(Neb.)-Commissioners Invite State To Monitor Funding
(Chadron)-The State of Nebraska Department of Economic Development will be receiving an invitation from the Dawes County Commissioners to monitor distribution of funds for a loan program operated by Nebraska Northwest Development Corporation. NNDC Executive Director Deb Cottier spoke with the Board on Wednesday morning about a potential visit and the reasoning for extending the invitation.
According to Cottier, in 1992, the NNDC Revolving Loan Fund was established through the State, in cooperation with the Commissioners, to allow small businesses in Dawes County to have accessibility to funding. Recently, the federal government, or more specifically the Department of Housing and Urban Development, informed states that that funding must be used only for intended purposes, and the states must now follow up to ensure the funds have been used properly. Should Dawes County be monitored, the State would examine records only as far back as 2010.
Cottier stated she had no worries should the State monitor the funding in Dawes County, and suggested the Board extend a letter of invitation to the DED. Should any violations be found, it is possible that the State would work with the County to make corrections, or they could request the funding be returned. Cottier believes there are some entities which will have problems providing documentation of the funding usage, but is confident all of NNDC’s records are complete. Currently, Dawes County has approximately $350,000 in funds, of which approximately $340,000 is loaned out. Statewide, the figure is around $8 million.
The letter was received by the Commissioners and NNDC around May 10th, and the County has 60 days to respond. The Board asked Cottier to draft a letter indicating their desire for the monitoring, and they will then sign that and send it to the DED.
(Copyright 2012 KCSR/Chadrad Communications, Inc. May not be reproduced in any form without permission.)
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