Supervisors discuss interim financing for Driftless Area Center

The Allamakee County Board of Supervisors met with the Allamakee County Conservation Board at the Conservation Board Office in Harpers Ferry as part of the Conservation Board's Tuesday, August 2 regular monthly meeting. As part of the meeting's agenda, Allamakee County Conservation Director Jim Janett discussed the need for interim financing for the Driftless Area Education and Visitors Center, explaining that fundraising for the project is going well but some expenses will be coming due and need to be paid to keep the project moving forward in order for reimbursements to be received from secured grant funding.

Janett further advised that Jens Kallevang of the Hacker Nelson accounting firm has worked with the Conservation Board to create a spreadsheet to illustrate a calendar of payments due, pledges and grant reimbursements over the next three years, saying that this information will be useful in assessing the project's interim financing needs. In further discussion with the Supervisors, it was agreed that a $500,000 revolving line of credit would be preferable to meet the Driftless Center's interim financing needs and that all four of the banks within Allamakee County should be approached with this opportunity. Further details about interim financing options will be shared with the Supervisors as they become available.