January 21st, 2015 – 5:24am
KONP News
(PORT ANGELES) – Clallam County will forgive a more-than 200-thousand dollar loan for the Forks pool.
County commissioners yesterday agreed to relieving the Quillayute Valley Park and Recreation District of the debt that stretched back to 2004.
A decade ago, the district was awarded both a grant of 160-thousand dollars and an interest free loan of 225-thousand dollars to support its community pool and recreation center.
So far, it has made just three payments on the loan and still owed about 205-thousand dollars. Citing a reduction of revenue and other significant downturns in the local economy, the Park District has sought relief from its debt in a letter to the Clallam County Commissioners.
As commissioners discussed the proposal at their Tuesday work session, commissioner Mike Chapman pointed out how forgiving the loan may reduce risk for the County’s taxpayers. He said in a default, the county could’ve ended up having to take over the pool costing hundreds of thousands of dollars more.
All three commissioners voted in favor of forgiving the debt. The measure will now be forwarded to the Prosecuting Attorney’s Office to draw up the required legal paperwork that will relieve the Park district of its remaining debt.