Elliot Lake council is not keen on forgiving a loan to the local Junior A team
The Wildcats organization is asking council for forgiveness on a $80,000 loan ... council is saying no. Photo: algomamanitoulin.com
Elliot Lake city councillors were united in their stand that there will be no forgiveness of a loan paid for with taxpayer dollars.
On Monday night, the Elliot Lake Wildcats Junior A team asked for forgiveness of the $80,000 city loan approved four years ago.
Or, failing that, team treasurer, Brad Lees, asked councilors for an extension of their loan repayment term to 10 years.
Mayor Dan Marchisella suggested the Wildcats’ debt will likely be decided when city officials examine the team’s financials at the Finance and Administration Committee meeting in August.