Another year sought for River Bend to resume loan payments
Another facility-operating society in Red Deer is coming under financial scrutiny.
In 2004, the River Bend Golf and Recreation Society was given a $1.7 million loan by the City of Red Deer for clubhouse renovations and expansion. The loan was to be repaid over a 20-year period.
Sixteen years later, however, only three payments have been made totaling about $125,000, leaving over $1.5 million still outstanding.
This raised the eyebrows of several city councillors on Monday as they discussed first reading of a loan amendment to defer annual payments by another year, until December 2022.