It was a split decision, but Onondaga County legislators approved a $20 million revolving loan for the County Industrial Development Agency.
“We are investing in our economic infrastructure and our ability to compete in that arena to increase jobs and do all those things,” Republican County Legislator Brian May said.
It was not disclosed what the $20 million will be used for. Members of the Legislature's Ways and Means Committee said it would go toward multiple projects and initiatives.
"It’s a tool kit, to be honest, to allow us to advance our economic development goals,” May said.
Those who voted against the loan expressed concern with taking money out of a recovery fund that is intended to help residents, small businesses and assistance programs.
“There’s just so many issues that this stimulus money was designed for, not for economic development projects that did not start before the pandemic,” said Legislator Mary Kuhn, a Democrat.
Other legislators wanted to know when the loan would be repaid, but that information was not made clear during the session.
All loan activity will be reported to the Legislature on a quarterly basis.