The Greenville City Council has accepted a settlement offer on a revolving loan which was issued to Troy Schukar for business buildings along Route 40, east of Elm Street.
Click below to hear Greenville City Manager Dave Willey tell WGEL about the arrangement:
The last payment on the loan was in October of 2012. Willey told the council the settlement allows the city to recover a significant portion of the outstanding loan and the remainder of the debt will be written off.
The city manager said the city will continue to benefit with property taxes on the property. Click below to hear more:
The council voted unanimously to accept the settlement offer.