Advisor explains loan processes for city projects

Spear Financial Vice President Larry Burger came to city hall March 24 to discuss the loan process for future city sewer upgrades mandated by Iowa DNR.

Burger initially thought the city was in good shape to get a State Revolving Loan Fund, however, his base rates were off by around double of what the project likely will cost.

Burger had base rates of $500 and $750 thousand, when city engineer Lee Galvatne said that amount will not cover the whole project. Galvatne estimated costs around $2 million, not including a possible $500 thousand Community Development Block Grant.

Read full story in the April 3 Tribune-Journal.