Despite having been approved by both the Archuleta County Board of County Commissioners (BoCC) and Pagosa Springs Town Council on Tuesday, March 3, a loan (of sorts) to the Pagosa Area Geothermal Water and Power Authority (PAGWAPA) was reconsidered by the BoCC Monday morning.
The funds, totaling $500,000 between the two entities, are to help PAGWAPA fund geothermal exploration work upfront, with PAGWAPA — and thus the town and the county — to be reimbursed for that work through grant funding from the Department of Local Affairs (DOLA).
On March 3, the county and the town each separately approved a $250,000 line of credit/loan to PAGWAPA, each with different details relating to invoices that may not be reimbursed by DOLA because they do not fall within the parameters of the grant.
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