A loan to the Friends of the Pavilion is on hold.
Kincardine Council last night deferred a decision to loan them money until their July 2nd meeting.
[The idea was for the Municipality of Kincardine to borrow 350 thousand dollars from C-I-B-C then turn around and loan the money to the Friends in order for them to pay their bills.
Council was to have been made a decision last night but deferred it until July 2nd.
Deputy Mayor Laura Haight says they would like to go through their financial statements in order to proceed with the loan agreement.
She says the Treasurer — Brenda French — will be in contact with the group to get the information.
Haight says the Friends have been struggling to get their organization up and running while at the same time trying to raise funds and book the building for events.
She says she wants to cut them some slack by giving them some time to gather their financial statements.
Haight suggests that in the future the Friends should go to the Recreation committee and deliver a report highlighting their success, failures, and plans for the future on a yearly basis.
She says by doing so there is no miscommunication and the information is there if any questions or concerns are raised.
The loan would be repaid over a 10-year period at an interest rate to be determined.
Council requested that French secure the best rate for a 30-day period while they wait for the Friends to produce their financial statements.