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Home arrow News arrow Local News arrow Foothill Village loans in spotlight

Foothill Village loans in spotlight

By SUNNY LOCKWOOD

The newest residential retirement community in Angels Camp was scrutinized Tuesday night when the city council accepted a performance report on Foothill Village and discussed loans to the retirement community.

Because Mayor Debbie Ponte is also marketing director of Foothill Village, she excused herself from the discussion and left the building. Vice Mayor Curley Middleton then took charge of the discussion.

With Councilman Lee Seaton absent, only three council members remained to discuss and act on the two items regarding Foothill Village

The 65-suite, 80,000-square foot retirement center sits atop a hill overlooking Highway 4 on the southeast side of town. During its construction, the city of Angels Camp received a $420,000 Community Development Block Grant, which it loaned to Foothill Village.

The retirement center was obligated to create 29 new jobs for local residents under the terms of the grant loan, reported Terry Cox of Cox Consulting, Tuesday night. Cox said her annual performance report was required to be submitted to the State Department of Housing and Community Development.

In her report, Cox said Foothill Village has created 29 full-time jobs, which are now filled. She reported that 20 of those jobs went to employees whose income ranked below 80 percent of the median income for Calaveras County.

In Cox's written report, she said 25 of the employees are white, one is black and three are Hispanic.

Councilman Dorian Faught pointed out that as Foothill Village developers pay back the block grant funds, the city has that money plus the interest it has earned to loan to other business projects.

The three-member council unanimously accepted the report.

Cox then presented a request from Butte Community Bank, the bank that holds the $5 million note on Foothill Village. As Cox explained it, there are three loans to the retirement community — the bank's $5 million loan, another loan from the bank for $500,000 and the grant loan from the city for $420,000.


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