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11/17/2023 7:23:53 PM
 
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Section 5: OPA Board Subject: ROC on OPVFD Msg# 1195293
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Ken:
I must disagree based on history. When the OPVFD needed a mortgage to finance the construction and end loan for the North side facility they had no problem obtaining a commitment from Taylor Bank. What surprised me was that was on leased property without our subordination. That said, OPA is responsible for any short fall suffered by OPVFD. Marty |
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For reference, the above message is a reply to a message where: Based on reporting in the Bayside Gazette, it looks like the OPVFD is going to simply ignore OPA and move forward with some sort of renovation project with the funding they have, and not even think about the plan proposed by OPA for a needed new structure. IMO, no local bank will give OPVFD a $2MM mortgage, based on their financials, without OPA backstopping it. |
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