The Argos Town Council members reviewed a resolution and agreement that would provide American Rescue Plan Act funds to the Argos Community Development Corporation for two proposed programs.
Argos Economic Development Director Mark Van Der Weele explained that the resolution gives authority to spend the funds and enacts an agreement between the Argos Community Development Corporation and the Town of Argos for the use of those funds. Van Der Weele said the funds would go toward a business grant program and a newly created business loan program.
The agreement would be in place until December 31, 2026, which is the deadline date to use the American Rescue Plan Act funds. At that time, the town would need to decide whether or not to continue with the program and if the funds would need to be paid back to the town.
The proposed $120,000 would be split between both programs.
The resolution and included agreement were approved with a unanimous vote.
