Private rink backers falling behind on loan repayments
Posted Aug 4, 2010 05:29:22 AM.
This article is more than 5 years old.
The people behind a private ice rink in Bedford are four years behind on loan payments – and the province wants its money back.
The CBC reports the Rocky Lake Development Association got a $1.5 million loan from the province four years ago to buy the land. The terms of the loan apparently included annual interest payments — but so far, none have been made.
The group is reportedly behind $162,000 in payments.
The economic development minister says the situation can’t continue.
The chairman of the non-profit association says the loan will be repaid.
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