Here we go again!
To the Editor:
The HUD Special Purpose Grant to establish a revolving loan fund in Caledonia county for both Lyndon and St. Johnsbury was all so well intended through the work of Senator Patrick Leahy. Once established the Loan Fund was intended to augment existing federal, state, regional, local, public and private lending resources. The operations manual was clear:
III - Criteria for Lending:
1) The honesty and integrity of the borrower to be without question. 4) The borrower must be unable to obtain adequate financing at reasonable rates and terms from private sources or other federal, state or local programs.