The Augusta City Council got some good news last week when it met.
A loan the city issued to Gear Up Inc. has been completely repaid in full – five months early.
According to a memo to the council from Josh Shaw, Assistant to the City Manager, Gear Up owner Josh Ogden said business was doing very well and they were continuing to grow. Ogden said they have traditional funding for their future growth plans and no longer needed the revolving loan from the city.
“Based on the final job certification report provided by Gear Up, staff would consider this loan a success and believe that it met the job retention/creation goals,” Shaw said.
Things aren’t going quite as well for another revolving loan recipient. Procoaters is two payments behind on their loan. As of Monday’s meeting, the company owed $2,976.
The company’s owners have been in contact with the city and have plans to get the payments back on track.
The council will have work sessions on Dec. 10, 2012 and Jan. 14, 2013.
The December meeting created a conflict for City Inspector Dan Allen who would be instrumental to the discussion of code enforcement for downtown buildings. The council voted 6-1 with Mike Rawlings against to mover that meeting to 5:30 p.m.
The Jan. 14, 2013 meeting on water system improvements will be held at 6:30 p.m.