Neillsville City Council Approves Housing Loan Write-Down
Monday, August 1st, 2016 -- 9:29 AM
-The Neillsville City Council approved a housing loan write-down at their meeting last week.The city owns a home at 209 W. 10th Street and Sunrise Real Estate was made an offer on the property, but its $5,000 short of the loan the city would need to cover the price. However, the home itself has been on the market for over a year and a half. The offer was good until Friday. The city had to have the Chippewa County Housing Authority approve the write down so they could sell the home.
Neillsville would have first dibs on the sale while the second would go the Western Dairyland Power. The council agreed with the advice of the city attorney who suggested they see a closing statement to make sure all the funds were going to the loan and not the pocket of the seller. It was also stated that the property would now go into the hands of someone who would use it. Finally, the council heard some updated financials from Memorial Medical Center. Things have slowed down a little during the summer, but that’s normal, and the hospital is doing very well overall, especially compared to last year.
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