There's a toss up about a loan in one Southwest Michigan community. Buchanan Downtown Development Authority Executive Director Debra Patzer says the DDA and the city have differing views about whether or not a $250,000 loan from the city to the DDA has to be repaid. Patzer says the DDA used that money for improvements around the city.
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Patzer says if the city requires the DDA to pay back to loan, it won't be able to do as many projects downtown. Neither Patzer nor Buchanan Mayor Barbara Clark was present when the city gave the DDA the loan in 2007, but Clark still feels it needs to be paid back.
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Currently the DDA owns the city hall building. And Patzer says one idea floating around is the exchange of the building for the loan's forgiveness. But Clark says the city is also thinking purchasing the former Fifth Third Bank on East Front Street and moving city hall operations there. Clark says the city is waiting on a surveyor report to find out which option is the most cost effective.
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