Tuesday, December 15, 2015

Cirrus Gets $8.51 M Development Loan from City of Duluth

A multi-million dollar aviation development deal received unanimous support on Monday from the Duluth City Council.  

The vote from city councilors means the city has now officially agreed to a 15-year loan to Cirrus Design Corporation for $8.51 million.

Cirrus plans to use the funds for a major facility expansion of airplane finishing operations scheduled to be complete in 2016.

In return, the company has promised 150 new jobs in the new Duluth facility for at least three years. 

Plus, Cirrus has also guaranteed that it will maintain all of its North, South and European production line in Duluth for the next 20 years. 

Also in Monday night's meeting, the last of the year, The council voted tonight to raise councilor compensation from $833 dollars to $1,150 per month. 

The adds up to a nearly $4,000 annual pay increase.

The pay hike is a "catch-up" of sorts, since councilor pay has been frozen since 1999. 

The 38 percent raise was recommended by the city's charter commission last month. That commission was tasked with determining council pay by a November referendum vote. 

The fee would go into effect in 2018, after the next municipal election. 

Source:  http://www.wdio.com

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