Officials want $150K loan tied to Muncie project paid back

December 20, 2016

Officials in Delaware County want a businessman to repay a $150,000 loan that was made more than three years ago as part of an effort to redevelop a Muncie building and create jobs.

The Star Press reports Commissioner James King this week asked Bill Walters of Augusta Consulting, the county's economic development consultant, to work with county attorney John Brooke on recovering the money.

Businessman Gary Dannar planned to create hundreds jobs assembling Mobile Power Station vehicles, but that hasn't happened yet.

Attorney James Borgmann, who represents Dannar, says the loan was made by the Delaware County Redevelopment Commission and is not in default. The newspaper says the loan is payable to the county on Jan. 1, 2019, and Dannar has been making monthly interest payments.


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