Commissioners address business loan items

The Pulaski County Commissioners recently passed motions to forgive the last payment of a Winamac Coil Spring loan and release a 2017 loan for Tippy’s during a regular meeting on March 18. First, Pulaski County Community Development Commission Executive Director Nathan Origer said that this year marks the 10th anniversary and final forgiveness of the $150,000 loan that the commissioners made to Winamac Coil Spring with LIT Economic Development funds. Pursuant to the terms of the loan agreement, the final $15,000 is to be forgiven, given that Winamac Coil Spring has a minimum of 25 full-time employees in Winamac. Origer also informed them that Sheila Jimenez, owner of Tippy's, has fully repaid the $25,000 revolving loan fund loan that she had received in 2017. He said that she has repaid it 10 months ahead of schedule.