SitNews - Stories in the News - Ketchikan, Alaska



Monies From Ward Cove Sale?
By Dave Rettke


January 28, 2006

Correct me if I'm wrong, and I could well be, but it was my understanding that all monies that were paid out from the $25 million dollar 'jobs fund' were to be used to create more jobs in our local economy. As such I think I remember reading and hearing that all monies paid back on the fund would be used to create a revolving fund for loaning to new and ongoing businesses to create even more opportunities locally.

That said, I have been curious as to what the dispostion of the funds from the land sales at Ward Cove is. Where are they, and what has happened to the original fund for creating jobs? I know some money was loaned to Ketchikan Ship and Drydock. Have they been paying it back? Hasn't that money been going back into the originating fund? Shouldn't the money from the land sales of Ward Cove and Mud Bight be going back into that fund to be loaned out for increasing the jobs and economy as originally intended?

Just curious.

Dave Rettke
Ketchikan, AK - USA


About: Dave Rettke lives in Ketchikan and has been calling it home since 1987. He worked at the pulp mill until its demise and now works for a mine near Juneau. He has three adult children, raised mostly in Ketchikan and two grand kids.



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