Newspaper article THE JOURNAL RECORD

State Authority Takes Action to Collect Industrial Park Loan

Newspaper article THE JOURNAL RECORD

State Authority Takes Action to Collect Industrial Park Loan

Article excerpt

The Oklahoma Industrial Finance Authority on Thursday voted to pursue legal action to collect on a delinquent loan to C.A. Henderson Industrial Park.

The loan, which principal amount was $600,228, is past due on two months' payment totaling $60,022, authority records show. The loan was made through the Oklahoma County Industrial Development Authority.

The finance authority committed to a $2 million loan to the Myriad Industrial Park in Elk City, which would be funded in the park's 13th month of operation, when it is profitable, said John G. Umdenstock, senior vice president of lending for the authority.

The property, formerly owned by a defunct Oklahoma City carpet manufacturer, will be used as a business incubator for 10 to 12 tenants, he said. The 140,000 square foot facility should open for business within the next 90 days, he said.

Organizers of the project are A. Dale Smith of Oklahoma City, and Claire Williams and Tim Belvin of Kansas City, Mo.

The authority also gave final approval to a $10 million tax-exempt revenue bond issue initiated last summer. The bonds are now in the process to go to market, said bond counsel Jim Gibbens. Proceeds will go partially to fund projects approved over the past six months in Claremore, Eufaula, Miami, Sapulpa and Tulsa.

In other action, the authority denied a $2 million loan application for Guthrie Cotton Oil Co. …

Search by... Author
Show... All Results Primary Sources Peer-reviewed

Oops!

An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.