NorthEscambia.com reports that the Urban Development Center failed to pay off its loan from the Town of Century and has asked for another extension. Read Request for Extension
Last February, the Century Town Council loaned the cash-strapped UDC $61,925 to help the company buy computers and workbooks for its YouthFirst Century program to help 250 middle and high school students annually. The Escambia Children’s Trust had agreed to give $1.2 million, and UDC would repay the interest-free loan when it received money from the Trust.
The computers were bought, and the Trust reimbursed UDC but the company didn’t cut a check to the Town of Century until September. UDC still owes $21,295 and now wants another two months due to “continued slow financial receivables.”
The Trust stopped funding YouthFirst Century when it discovered the program had only served about 30 kids, ages 11-18. UDC received $264,058.03 for taking care of those children, according to NorthEscambia.com.
We warned the Trust Board that UDC would not meet its goal, but the board approved the proposal. Imagine how many children in Escambia County could have gotten eye exams and glasses for $264K.
