A recipient of economic development assistance from the Town of Sylva and Jackson County has defaulted on its municipal loans.
Metrostat’s loan from the county came from its revolving loan fund, which has a poor track record. Only a few of its loans have been satisfied in full because most of the businesses that have received loans have failed, leaving the county holding little or no collateral to satisfy those loans.
Now, the commissioners find themselves pricing fiber optics by the strand-mile.
