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Legislature closes out $375K in failed loans

Aug 21, 2015 6:55 am
Jim Planck is reporting in The Daily Mail the Greene County Legislature voted Wed., Aug. 19, to close out $375,000 in bad loans made by the county over the past decade. The two resolutions approved by the full board salvaged more than $100,000 for the county. Officials will now close out a $135,000 mortgage loan for a Coxsackie property made to the late owner of Cameo's Restaurant in Athens. The second matter disposed of was a promissory note made in 2007 to Athens on the Hudson, LLC for nearly a quarter million dollars. Those funds were intended to help the company acquire, renovate and expand the former Hagar’s Harbor Restaurant and Marina, in Athens. Payments on the note stopped in 2011. Read the full story in The Daily Mail.
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