Though we have already issued the check to repay this loan at the City’s request, I am asking for ex post facto permission. Because repayment was a formality and the City was firm in their request that it be repaid before the new year, that action was already taken. But we should still get the formal action on the record.
Recommendation: I recommend that you approve repayment of the loan to the City of Palos Heights in the amount of $250,000.