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1-16-09

 

 

 

 

 

 

FOR RESIDENTS
Low interest loan program okayed by city

by Alan McArthur
Landmark reporter

Platte City will be participating in two programs after the board of aldermen approved them on Tuesday night.

The city will participate in the “Show Me Green” sales tax holiday and a home remodeling loan program.

The sales tax holiday allows citizens to purchase Energy Star appliances between April 19 and 25 without city sales tax being applied. The holiday applies to any appliance purchased in Platte City between the allowed dates.

The proposal was discussed by both the public works subcommittee and the public safety subcommittee last week. Both of the committees recommended the board approve the proposal.

The city will also participate in a home remodeling loan program through the Mid-America Regional Council (MARC) and CommunityAmerica Credit Union (CACU).

The loan program will provide residents with a loan of up to $30,000 and an interest rate of 1.35 percent below the conventional home equity loan rate. To qualify, the resident must have a credit score above 620 and the property must be valued at less than $200,000.

In order for the city to participate there is a fee of $250 in order to participate in an advertising campaign with MARC.

“I was sorry to hear there was a price tag attached, but it is minimal,” said Andy Stanton, board president.

Aaron Jung, alderman, asked where the $250 would come from.

“We have not yet identified a fund,” said Jason Metten, city administrator. “Most likely it would be from general accounting because it would be a promotional expense.”

“So MARC gets all the money?” asked Stanton.

Metten said he thinks MARC will pool the money to design promotional materials.

“We should have free use of it and can put it in the city newsletter,” said Metten.

The board approved both programs with votes of 6-0.

The board also approved a reorganization of the public works and public safety subcommittee members.

The public safety subcommittee will now have Aldermen Ron Stone, Tony Paolillo, and Aaron Jung as members. The public works subcommittee will have Aldermen Andy Stanton, Marsha Clark, and Debbie Kirkpatrick.

The public works subcommittee meets on the first Monday of every month and the public safety subcommittee meets on the first Tuesday of every month at city hall.

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