Jamestown City Council will consider authorizing the hiring of five police officers at their voting session tonight.
The resolution will appear under new business.
Also under new business, Council will vote on a $350,000 bridge loan to Jade Empire LLC for the Prendergast Landing Project. The term is 10 years at 4% interest. Council approval is required because the loan amount exceeds $100,000.
The loan is to provide working capital in the form of a bridge loan to allow construction to continue towards completion at 106-108 Fairmount Avenue. The Prendergast Landing project is receiving $1,909,204 in state grant funding, which is reimbursable upon project completion. Jade Empire LLC will make monthly payments on this loan until receiving grant reimbursement from the state, at which time they will promptly repay the balance of the loan early. Project completion is anticipated for late summer 2026.
Council will hold a brief work session at 7:00 p.m. with the voting session starting at 7:30 p.m. in the Council Chambers located on the second floor of City Hall. All meetings are open to the public and also will be livestreamed on jamestownny.gov.
Leave a Reply