Balaton EDA approves terms for liquor store loan
BALATON — The Balaton Economic Development Authority will be stepping forward to try and help keep the city’s municipal liquor store open. Monday night, the EDA board approved terms for a $30,000 loan to the city of Balaton for the Balaton Liquor Store. The terms set by the EDA board included a 3% interest rate for the loan, with the liquor store building as collateral. During Monday's meeting, board members also said that if the liquor store uses its remaining funds and has to dip into the $30,000 from the loan, it will trigger a special meeting with the Balaton City Council to ...