NESPELEM – The Colville Business Council has approved a resolution to approve Key Bank to pursue up to $18 million in financing for construction of the Colville Treatment Facility.

According to the resolution, the proceeds of the loan will be used for “(i) paying for construction costs; and (ii) providing leverage loans to secure new market tax credits.”

CBC member Karen Condon cast the lone vote against the recommendation, while CBC members Andy Joseph Jr., Jack Ferguson, Richard Swan, Susie Allen, Margie Hutchinson, Janet Nicholson, Richard Moses, Joe Somday, Joel Boyd and Darnell Sam voted for the resolution.

Tribal administration is expected to return to CBC Chambers with specific financing packages in upcoming months.

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