SitNews - Stories in the News - Ketchikan, Alaska


Ketchikan Gateway Borough economic loan proposal.
By A.M.Johnson


June 24, 2010


After reading the economic loan proposal on an Economical Development Loan program on the borough website, I am convinced that the concept of the borough staff and Assembly being in a decision position to loan money is not a healthy concept.

I have to agree with John Clifton, VP of First Bank who expressed the more accurate assessment and conclusion regarding this proposal.

I would urge the more conservative members of the Assembly to kill this proposal. Accepting Federal Government funds leads to restrictive and counterproductive results. Government in general will prove destructive not constructive, with business proposals.

If a business proposal will not stand the review of private financing organizations who are in the risk business, an elected body of amateurs, sans responsibility or obligation,business owners or not, elected assembly persons are ill prepared to be involved in oversight of any loan program. The potential of failure is increased with "Government" money involved. We do not need a Fanny May, "Loans to those who need sub-standard load backing" mentality.
While well intended, it is not the prerogative of local government to be in the fiscal loan business. If the response is that the borough is in the economic development business and this loan program fits, then perhaps the borough should review involvement with economic development. The borough can either make it easier for business or be restrictive. I know of no government, local.State or Federal that is not driven by empire building and doing so is consistently restrictive to the public in its empire building efforts.

Leave the loaning of funds to the private financial houses.


Ketchikan, AK

About: "Senior citizen, local business owner"

Received June 22, 2010 - Published June 24, 2010



Economical Development Loan program

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