Mayor defends emergency loan

By: NewsCenter 16 Staff Email
By: NewsCenter 16 Staff Email

BENTON HARBOR Benton Harbor's mayor is still working to fend off critics of the $2.3 million emergency loan the state recently approved for the city.

Emergency Manager Tony Saunders applied for the loan against the wishes of the city commission. Hightower was always in favor of the loan.

It was the primary topic of his weekly video address. Mayor James Hightower compared the emergency loan to taking 10 credit cards with 10 different interest rates and combining them into one low-interest payment. The emergency loan carries an interest rate of 2.8 percent.

“If we hadn't done this, many of those vendors would have taken us to court, and it would have cost the city a lot more in court costs and attorney fees,” Hightower says. “This was a great business deal.”

Mayor Hightower says he'll detail how the $2.3 million dollars will be spent in next week's video address.

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