Three loans approved by CWC board

MARGARETVILLE, N.Y., September 11, 2007 - A Walton physician, a Margaretville car wash and a Walton restaurant will receive low-interest business loans following action take by the Catskill Watershed Corp. on August 28, when a stormwater planning grant was also awarded to the Town of Windham.

The CWC Board approved a REDI Loan to help Dr. Eric Dohner relocate his practice from leased offices at Delaware Valley Hospital to a building he is purchasing at 6 Franklin Road in Walton. One floor of the two-story structure will be occupied by Dr. Dohner’s practice, and the other will be rented to another professional in the community.

A portion of the loan, offered at zero interest for the first year with deferred payments for six months, will be provided under the CWC’s Walton Flood Loan program to help Dr. Dohner replace equipment which was lost in the 2006 flood that devastated Walton. The flood forced the physician to move from his damaged building to the leased quarters at the hospital, which now needs the space for other purposes.

Another Walton business - Danny’s Restaurant and Lounge - was awarded a low interest REDI Loan to acquire a new, more efficient heating system, and to restructure existing debt. The eatery is owned by Leo Hannan and Wilma Hannan.

Frank and Richard Busciglio, owners of the Margaretville Car Wash, plan to use their low-interest REDI Loan to acquire a new automatic washing unit for their facility.

In other business, the CWC Board approved a $42,491 Stormwater Infrastructure Planning and Assessment Grant to the Town of Windham. The funds will be used to inventory, evaluate and assess existing stormwater structures in the hamlets of Windham and Hensonville and prioritize recommendations for repair or replacement. The Town will supply a 15 percent match of $7,498.

For more information on the non-profit Catskill Watershed Corporation and its environmental protection, economic development and education programs, go to www.cwconline.org, or call 845-586-1400.