Dutrac Community Credit Union

REGIONAL LOAN FUND NO LONGER LINKED TO W E D C

A regional, revolving loan fund that was

being backed by the Wisconsin Economic

Development Corporation, is now being

handled by a different agency.

That’s according to Grant County Economic

Development Corporation Director, Ron Brisbois.

By D-O-A, Brisbois means the Wisconsin

Department of Administration.

Brisbois says the changes came about after

the Federal Department of Housing and

Urban Devleopment did a review of the

Wisconsin Economic Development Corporation

and the proposal to create the regional,

revolving loan funds. The key isssue is

defederalizing the money that would be

coming from the revolving loan funds.

Because of the extra step that has to be

taken to do that, the rules, regulations and

directives to create the regional revolving

loan funds will now come from the Wisconsin

Department of Administration.

—-dash—-

Brisbois has been updating local communities

about the change. He says the resolutions

passed earlier by local units of government

are now meaningless, and will have to be

considered again for approval.

While he admits the changes are a step back

in setting up the regional revolving loan

fund, it’s not a step back to square-one.

Brisbois also says some communities may

decide to not participate in the fund because

of the changes, and he certainly doesn’t

anticipate every county that was projected

to be a participant will be involved.

The regional revolving loan fund for southwest

Wisconsin was projected to be Grant, Iowa,

Lafayette, Richland and Green Counties.

Loyal Listener Prize Zone