The Jefferson County Commission on June 1 forgave a $200,000 loan of metal mines funds made to the Jefferson Local Development Corporation in 2015 to help restore Whitehall’s historic Borden’s building.
JLDC Project Manager Eric Seidensticker told commissioners that the loan should be forgiven because the project succeeded in revitalizing the Borden’s building, which was even full during the pandemic when it was used as a vacation rental. Project Coordinator Tom Harrington said the previously blighted building, which was damaged in a 2009 fire, now has nine housing units, eight commercial spaces and a community conference room.
According to Commission meeting minutes from March 17, 2015, the total payback of the loan was intended to be $238,810, due in 2021. In that meeting, Boulder valley resident Bob Sims raised concerns about using taxpayer money on a project that only benefits Whitehall. Commission Chairman Leonard Wortman, who is also on the board of JLDC, said that the $200,000 was from the metal mines funds, whose purpose is to support “economic development.” In a recent interview, Harrington explained that the metal mines fund is provided to the county from the gross proceeds tax of mining operations, and agreed that the metal mines fund was appropriate to fund the Borden’s Project.
