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Carthage takes over loan program

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CARTHAGE — The village Board of Trustees on Monday took over the administration of the former Economic Development Corporation of Carthage loan fund.

The board formed the EDCC to oversee a revolving-loan program that began with repayments of loans the village issued from a federal $1.78 million Urban Development Action Grant to build the West End Dam in 1986.

Because of changes in the way industrial development agencies are administered, the EDCC board dissolved the organization last month and returned the program to the village.

Board members adjusted the budget by $1,000 to incorporate the loan program’s administration and appointed Village Clerk Kristy L. O’Shaughnessy to administer the fund.

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