Council Grants Loan Request for CirrusCity leaders have agreed to grant approval for a nearly $1-million loan at request from Cirrus Aircraft. Officials met with city leaders again, after last week the company felt it was the target of a councilman's scrutiny and judgement.
City leaders have agreed to grant approval for a nearly $1-million loan at request from Cirrus Aircraft. Officials met with city leaders again, after last week the company felt it was the target of a councilman's scrutiny and judgement.
The atmosphere at Monday's meeting was a complete turnaround from the March 5th meeting. The Growth Fund committee moved that the company receive the $950,000 loan, but only after chairman and council Vice President Doug Christensen gave an apology.
Christensen: "I can honestly say that I trust that Cirrus will repay the City of Grand Forks...there's absolutely no doubt in my mind the future of Cirrus in the city of Grand Forks is extremely bright."
The nearly $1-million loan is going towards an autoclave aimed at producing high quality products which will save the company money in the process.
Bill King, Business Administration VP, Cirrus Aircraft: "The future of this industry in this small measure goes with this expensive equipment that we're now investing heavily into."
Cirrus officials received affirmation from councilmen.
Hal Gershman, Council President: "We've got your back, we love you in our community you've got wonderful employees and we wish you a tremendous future with us."
Dana Sande, Councilman: "I think we're very fortunate that we have you here and I as well want to see a long term relationship with Cirrus and hopefully it can continue to expand in the future."
Bill King, the company's Vice President says without question it'll be able to pay back the city.
King: "The simple math if you will is that the savings alone off of the components that we are now manufacturing far exceed the $11,000 a month."
Construction for the autoclave will begin shortly and King says he expects it to be fully functioning by end of summer or early fall. The expansion will also add jobs.