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Low-interest roof loans expiring

By MELINDA WILLIAMS

melinda@southwesttimes.com

The opportunity for downtown Pulaski building owners to obtain low-interest loans to repair or replace their roofs is about to expire.

Shawn Utt, town manager, says Aug. 31 marks the end of a grant program that loaned up to $20,000 per building for roof repair or replacement. Participants received the funds in secured loans with 2.5 percent interest. Building liens served as collateral.

Pulaski received a $75,000 USDA Rural Business Development grant in August 2016 to cover roof work. One extension was granted, but Utt believes it’s unlikely a second would be approved.

Although former Economic Development Director John White informed Pulaski Town Council in 2016 that 85 percent of downtown buildings have “bad roofs,” Utt said only about five building owners took advantage of the project.

Tuesday, town council unanimously approved loans for Fine Arts Center for the New River Valley and the owner of the building directly west of Pulaski County Courthouse. The loan amounts are $15,000 and $20,000, respectively.

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