Ponderosa Villa Board/Crawford City Council Meeting On Collateral For Villa Loan

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     The Crawford City Council and the Ponderosa Villa Board are meeting today in a joint special session at noon in City Hall.

     The lone agenda item is a loan or line of credit for Ponderosa Villa to pay off some outstanding debt. 

      The city council is involved because the city owns the Villa and the proposal from Security First Bank calls for the building and land to be put up as collateral. A representative of the bank will be on hand to explain the proposal.

    The council and Ponderosa Villa Board have been working together most closely since a February meeting on a possible leasing agreement for Senex Foundation to operate the nursing home revealed hard feelings between the two.

     The council has since provided one-time funding for the Villa, whose board has had a member attend council meetings and provide updates on the Villa’s attempts to find a permanent administrator and boost resident totals.

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