by Sam Hieb
Interesting agenda item for Tuesday’s Greensboro City Council meeting:
Resolution authorizing extending the repayment start date an additional twelve months on a $1,275,000 loan to the Nussbaum Center for Entrepreneurship Inc.
The City Council approved the loan in May 2011 after the Nussbaum Center moved to South Elm-Eugene Street. The attachment adds Nussbaum’s scheduled monthly payments “are significant and with expected lease levels yet to be attained beginning full repayment of the loan may lead to staffing and program in the short-term and would dramatically affect cash flow.”
It will be interesting to see if the council has a few choice words for the Nussbaum Center or if they simply rubber stamp it. Regarding the last post, note that Deep Roots –which opens its downtown location on Wednesday and to which DGI points as evidence that it’s doing something—- remember the City Council approved a $100,000 loan toward that project.