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Monroe I-20 Development Update

The I-20 development board may be close to a solution that will allow the city to both finish and begin many projects.
MONROE - - The I-20 Development Board may be close to a solution that will allow the city to both finish and begin many projects.

However until an agrrement is made on a quorum between the mayor and city council this issue continues to cost the city money.

Dr. Dwight Vines Monroe’s Economic Development Officer says until this is resolved the city is suffering.

"We’re missing out on opportunities for development, we have a hotel developer who has plans for two hotels that he believes would generate about 700 thousand dollars a year in local taxes and create fifty permanent new jobs with a payroll of about 600 thousand dollars a year.”

Sue Nicholson President of Monroe’s Chamber of Commerce says it’s important to move beyond past obstacles for the betterment of the community.

"These economic opportunities translate into job creation and that’s what we need very much in this community and so we want to get over any hurdles that stop that opportunity."

 And despite the projects being on hold, the City of Monroe is still being charged interest on money they’ve borrowed to fund these projects.

"We have a tremendous expense here of interest we’re paying over 25-hundred dollars a day in interest for the money we’ve borrowed which we can’t put to work." says Dr. Vines

Dr. Vines also says that a name has been submitted that will allow the I-20 board to form a quorum but until that person is approved by the council projects are still on hold.


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