“At the time, the principal balance was $263,799.61 with unpaid interest of $4,603.84,” Campbell-Blair wrote. The Tri-Agency defaulted on the loan in 2011 and the USDA accelerated that debt in 2012, Campbell-Blair wrote in a report to supervisors Tuesday. Administering the program itself, the Tri-Agency’s USDA loan carried 1 percent interest per annum over a 30-year term, according to Deputy County Counsel Joel Campbell-Blair. The Tri-Agency created its second revolving loan program in 1997 using $400,000 it borrowed from USDA Rural Development. Department of Commerce and has been administered through the Del Norte Economic Development Corporation since 1976. The Tri-Agency brought two revolving loan programs to Del Norte County: One that was funded through the U.S. “Instead of a request to budget $70,000 from the general fund, I would rather see us hire a grant writer that could be utilized by the county and the city and perhaps even the harbor and turn that $70,000-a-year salary into potentially $70 million in grants.”ĭistrict 5 Supervisor Bob Berkowitz was absent Tuesday.Ĭonsisting of representatives from Crescent City, the Crescent City Harbor District and Del Norte County, the Tri-Agency Economic Development Authority was created to help the community’s economic recovery following the 1964 tsunami. “The Tri-Agency has had 50 years to prove that they are a worthwhile agency and they have fallen short,” she said. Her colleagues on the Del Norte County Board of Supervisors argued Tuesday that the Tri-Agency Economic Development Authority had some success as an economic driver despite its history of making bad business loans.īut Starkey, who represents District 2, said she felt a request to contribute $70,000 toward hiring a director and pay the balance of that outstanding loan was “just another layer of wasted government money.” Department of Agriculture loan, Valerie Starkey alone expressed reservations about resurrecting the joint-powers authority that had defaulted on that debt. Though she agreed Del Norte County shared an obligation to pay off an outstanding U.S. The Tri-Agency Economic Authority consists of representatives from Crescent City, Del Norte County and the Crescent City Harbor District.
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