News: Michigan's Adventure gets loan-to-grant

Posted at 5:47 AM EDT (0947 GMT)

Jul. 6th, 2004 -- It was decided last week that The Michigan Economic Development Commission will award a $2.5 million loan-to-grant to Muskegon County based upon a project at Michigan's Adventure in which the park will expand and create more jobs due to an increased water supply.

The park project is an agreement that brings together The Northside Water System and Muskegon County, who previously had several disagreements on how to change the current water system in part of the county. The county and several townships said that it is their intent that additional communities have the ability to be served and that the Department of Public Works operate the system. The agreement is planned to function for 40 years, and a long-term goal is to make water available to any city or township that will request the service.

Michigan's Adventure will make a payment of $400,000 to extend water and is committed to repay up to 61 percent of the MEDC loan to grant if jobs are not created. The county also intends to use reserves and internal lending from Solid Waste to finance the project.

Visit White Lake Beacon for more details.