Board rethinks raising MCEDA’s debt limit
THE MADISON COUNTY Board of Supervisors has changed its mind about how much money the county’s economic development authority, MCEDA, should be allowed to borrow.
Last week the board voted unanimously to rescind its resolution of support for legislation that would remove MCEDA’s debt limit, currently set at $12 million.
District 3 Supervisor Gerald Steen made the motion.
District 4 Supervisor Karl Banks said the prior resolution “had already been pulled,” but Steen said he wanted to go ahead and vote anyway.