Council to seek refinancing of village offices

By David Fleet
Goodrich- On Monday night, the village council voted 4-0 to consider refinancing the Rural Development Loan taken out in 2003 for the construction of the village offices. About 22 years remain on the current loan for the village offices at an interest rate of 4.250 percent, the unpaid balance is $819,074. Council member Wendy Ciaramitaro was absent.
The United States Department of Agriculture is recommending possible refinancing due to lower interest rate and to pay off the loan sooner, said Sheri Wilkerson, village administrator.
“We tried this before and it did not work,” said Doug McAbee, village council president. “If it works this would be a big help.”
Construction on the $1 million DPW and Goodrich administrative offices on three acres began in spring 2004. The structure is 4,400 square feet and is used to house equipment in addition to the offices.
In 2006 the village finished the lower floor of the Gordon H. Bachmann Department of Public Works building, 7338 S. State Road as the new council meeting area. Completion of the lower level allowed village boards and commissions to utilize about 1,500 square feet of space for meetings.
Prior to the opening, meetings were convened on the second floor of the Goodrich-Atlas Lyceum 10237 Hegel Road.

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