Wayne City Council WIll Consider Two LB-840 Applications
Posted: 05 November, 2013
WAYNE (KTCH/KCTY) - The City Council will consider two applications for LB-840 funds when they meet at 5:30 this evening. An application by “OCC Builders”, doing business as “One Construction”, is seeking $37,000, while “Innovative Protectives” is asking for $10,000.
The concept of using the LB-840 money for Emergency Business Loans was previously approved by the Council. LB-840 is the result of The Local Option Municipal Economic Development Act of 1991- authorizing incorporated cities to collect and appropriate local tax dollars for economic development purposes. The City Council will also be asked to waive the temporary hook-up fee for electric services for those affected by the tornado and related storm damage. The Council will also hear a presentation on electric energy costs.