Thanks a Lot

Massillon's Mayor for Life came to City Council Monday night to announce an exciting way to save the city money. Massillon can refinance its section 108 loan. This is the loan the city took out to pay the mortgage at the Hampton Inn. The hotel is in private hands. The city pays the mortgage. Someone else owns the hotel. Brilliant. What a shrewd business deal.

Mayor Cicchinelli believes the city will be able to save almost $500,000 dollars in interest costs over the next ten years. The city already committed $211,000 dollars for this year's hotel loan payment.

What is a "Section 108 Loan"

According to the Department of Housing and Urban Development;
The Section 108 Loan Guarantee Program is a source of financing allotted for the economic development, housing rehabilitation, public facilities rehab, construction or installation for the benefit of low- to moderate - income persons, or to aid in the prevention of slums.

What does paying the mortgage for a privately owned hotel have to do with housing for poor people?

Nothing. It's a hotel!

The Massillon Review has a better plan to save money. Don't use our tax dollars to pay the mortgage for hotels owned by wealthy developers.