City council voted to authorize $15,000 loan to Kent Wells Sherman House
The Stein Movers company moves the Wells Sherman house down Haymaker Parkway on the morning of August 11. The house is now sitting at the west end of College Ave. while construction on the Esplanande extension is underway. Photo by Matt Hafley.
April 9, 2013
The Kent Wells Sherman House was yet again a hot topic at the March 20 city council meeting. Kent City Council members voted to authorize a $15,000 loan for the relocation of the house to be used as a fundraising match.
Councilwoman Tracy Wallach said the loan was first brought up in July, and at that time, the $15,000 was requested.
The loan requires matching funds, which means that funds will be supplied in an amount matching the funds from other sources. Originally, it was supposed to be a grant, and then that was supposed to illicit matching funds for the grant, Wallach said. There was then an amendment made to turn it into a loan.
“That surprised me because I didn’t think we were doing a match and we were just doing a loan,” she said.
According to the ordinance, the Kent Wells Sherman House, Inc. will be given up to a $15,000 loan at zero percent interest to be paid back in equal installments over 120 months. The funds will be used for the relocation and refurbishing of the Kent Wells Sherman House.
Councilman John Kuhar voted against this ordinance, calling it a bad business decision because he hasn’t seen a copy of the promissory or mortgage notes and cannot support this spending of taxpayer dollars.
The relocation for the house is under negotiation, Wallach said. The house was supposed to be moved in January, then in February, and members of Kent Wells Sherman House, Inc. are now hoping for April.
Contact Yelena Tischenko at [email protected].
