Carson City Supervisors to consider amending loan agreement with auto dealer
The Carson City Board of Supervisors will be discussing on Thursday an amendment to the previous redevelopment incentive loan package offered to Micheal Hohl Motors to keep the company's three dealerships in the county.
The company has already received $2.4 million in redevelopment funds that was used to help build the new Honda and Subaru dealerships on South Carson Street, and is preparing to take out the remaining $2.4 million for remodeling of the GM dealership.
The changes to the agreement being sought are to combine the previous promissory notes (one for each new dealership) with the new one, reducing the interest from 5 to 3 percent, and to extend the length of the notes from 20 to 30 years. These loans are paid off through the sales taxes generated by the dealerships, as part of the city's redevelopment program.
In return, the business will provide additional security for the loans in the form of the deed on the GM dealership, and agree to keep the business located in Carson City for the extended period of the loans.
Supervisors are also scheduled to vote on the selections of citizens to construct the pro and con arguments to be included with the ballot question for the Carson City Center Project.
Clerk-Recorder Alan Glover has forwarded six names to the board for their approval, which is included with several other items on the board's consent agenda.
On the pro side are: former Supervisor Robin Williamson, who now serves on the Carson City Library Board of Trustees; Sandy Foley, who also serves on the library board; and Catherine Cunningham, a member of the Carson City Library Foundation Board.
On the con side are: Attorney Day Williams, local business owner James Bagwell, and current candidate for supervisor Dennis Johnson. All three were involved with a petition drive to put the Nugget Project question on the ballot.
(See the applications for membership to this committee below.)
See the full agenda with supporting materials.
- Board of Supervisors
- Carson City
- Carson City Board of Supervisors
- Carson City Library
- Carson City Library Foundation
- attorney
- ballot question
- Board of Trustees
- Business
- candidate
- carson
- Carson Street
- center
- City
- City Center Project
- county
- day
- foundation
- from 5
- help
- Loans
- local
- local business
- local business
- Membership
- new
- News
- nugget
- nugget project
- program
- Program:
- Redevelopment
- remodeling
- sales
- south
- South Carson Street
- Supervisors
- Taxes
- The Pro....
- vote
- Day Williams
- Library
- Robin Williamson