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The Big Lake Economic Development Authority unanimously denied the sale of property parcel 65-00403-0430 and voted to hold it for future development.
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The property will remain under BLEDA control rather than being sold now. BLEDA also transferred an approved revolving loan for the 616 Rose Drive purchase and renovation from Big Lake Pizza Factory, Inc. to RM Specialties, LLC, keeping the same terms and conditions. The authority updated its loan policy to allow nonprofit applicants only under extraordinary circumstances and with adequate loan security.
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