THE Millicent and District Community Club has been thrown another lifeline by Wattle Range Council as it struggles to repay a $400,000 community loan.
At Tuesday’s monthly meeting, councillors resolved to accept interest only payments from the club for its twice-refinanced loan until February 2019, with interest and principal repayments to resume from March 2019.
The loan, which was to be paid back in the current financial year, has an outstanding balance of $194,000.
Following a deputation to council in September last year, the club’s outstanding principal repayments – totalling $2605 per month – were deferred until March 2019.
Community club management committee chair