Ketchikan Gateway Borough
economic loan proposal.
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
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
Leave the loaning of funds to the private financial houses.
About: "Senior citizen,
local business owner"
Received June 22, 2010 - Published
June 24, 2010
Economical Development Loan
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