Quote:
Originally Posted by MonctonRad
From Mayor Dawn Arnold's FB page:
Applying for this low interest loan from the FCM was quite inventive. This should go along way towards reducing the cost of amortizing the Centre. Good idea!  |
I'd be curious to know what the interest rate and other terms of the loan are. It doesn't say on her FB page. At least I couldn't find it. I wonder if it is a non-interest bearing loan.
EDITED: Found out on Greg Turner's page this "The loan will have a positive impact on the overall budget . In this particular instance , it will benefit the Project financially as the interest rate will be considerably lower than traditional market rates."
I guess that answers somewhat my question on the interest rate, although it doesn't state the details.