Commissioners question fund operation
Tuesday night the Wake Forest commissioners had a lot of questions about the town’s Futures Fund after Deputy Town Manager Roe O’Donnell explained the fund’s operations and what has happened since the fund was established in 2010 to aid and promote economic development and enhancing the town’s nonresidential tax base. Large loans and grants will be made to high-impact larger businesses and loans of $1,000 up to $10,000 will be made to small businesses. Businesses apply and are judged by the Futures Fund committee, which includes O’Donnell and engineer Jim Bell, who was also at the meeting. Only if the committee approves of the applicant’s business plan and other information are the requests handed on to the town commissioners, who make the final decision. The commissioners have approved two grants: one of $14,300 to Riverplace LLC, owner of the former Burlington Mills plant on Capital Boulevard, for a boundary survey