Kitsap Caucus

Brynn Grimley wrote a story about a loan a company can get if the county will be the second guarantor. This is one of those stories in which no matter what the commissioners do, someone will complain. Is this a “The same people who . . .” story?

By that I mean are the same people who are complaining about the county’s reluctance the ones critical of the county for loaning the money for the Harborside Condominiums, or redoing the loan on the condos? If you recall, in redoing the loan and agreeing to taking on first position, county commissioners did it because not doing it could have placed the county in a worse position, having to pay off millions without being able to sell units. Commissioners also said it was probably a mistake to guarantee the loan in the first place, but the three commissioners who did that are all now in different political positions.

I suspect this is a “The same people who . . . ” story because there is someone asking why the county wouldn’t guarantee this loan when they would the other one.

There is no way for the county to act without generating criticism. If the county agrees to back the loan, it risks forfeiting future Community Development Block Grant funds that are relied upon by local agencies. If the county declines to back the loan, though, it risks losing potential Kitsap jobs. For those who are full-time critics on the Internet, this story is a dream come true.

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This entry was posted on Monday, February 8th, 2010 at 1:35 pm by Steven Gardner and is filed under County. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.