City updates revolving load policy
The Pine River City Council on Tuesday, Nov. 12, approved changes to the city’s revolving loan policy.
The policy has been changed to provide financial assistance to businesses up to two miles outside the city. Businesses outside the city will be charged a 6.5 percent interest rate; businesses inside the city are charged a 5 percent interest rate.
The loans are sponsored by the city’s Economic Development Committee and can range from $3,000 to $20,000. They’re made at a reduced rate to retain jobs, create jobs, expand local businesses and start up new businesses.
Pine River Police Chief Paul Sand reported that October was busy, with calls including 68 traffic stops, 23 medical calls, three accidents, five assaults, one burglary and one DWI, among other calls.
In other business Nov. 12, the council:
• Approved purchase of two laptops for the police department.
• Heard there will be a ribbon cutting for the new Backus to Pine River sewer line at 2 p.m. Friday, Nov. 22, in Backus.
• Heard that the city engineer continues to meet with the DNR and department of transportation regarding future plans for the dam.
• Learned city hall offices will be closed Nov. 28-29 for Thanksgiving.
• Appointed Gary Siltman and Randolph Larson to the sewer board for another term each.