Port Authority Seeking Funds From Commissioners

POSTED BY: Mark Bullion
Thursday, May 5, 2011 - 06:08 PM
Port Authority

During these tough economic times, the Zanesville Muskingum County Port Authority is feeling the pinch and is looking to fund a few projects with the help of the County Commissioners.

Port Authority Executive Director Mike Jacoby went in front of the commissioners Thursday morning to ask for a line of credit to help with some Eastpointe Business Park improvement projects.

"Rather than take our limited cash to make these improvements at Eastpointe, what we'd like to do is have a 150,000 dollar line of credit," said Jacoby.

 That line of credit, Jacoby says, would go toward wetland restoration, a new sign where the new entrance is to the park, and a few other projects. The 150,000 dollar credit line wouldn't just be for these specific projects but also new ones that may arise in the future. He says if the commissioners do approve the line of credit, the Port Authority would have to get approval from the commissioners first to use the funding.

"We may need cash before another lot sells and we just want the county to essentially loan us money until we sell more land. And they are going to recoop their investment but we just need a little flexibility in the use of the cash," said Jacoby.

The commissioners are expected to discuss the matter within the coming weeks.


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