Regions to provide CVB financing
“I would think we should be prudent with our money, and if we can save that kind of money, we should do it,” Edmiston said.
Bond attorney C. Grant Schlueter, of Foley & Judell, went over the commitment letter from Regions Bank. He said it was the best proposal “by far” received by the CVB.
“We believe it is very good,” Schlueter said. “There were two items we felt needed to be resolved and they agreed to them.”
Schlueter said the payment schedule for the proposed $2 million loan was for 10 years at between $240,000-$250,000 annually.