2/23/17 – 10:38 A.M.

The Hancock County Commissioners have forgiven a part of the debt owed to the county’s revolving loan fund from the North Central Campus for Emerging Technologies. Emerging Technologies is leasing space in its building to Brown Mackie College. The college announced last year it would close when all its current students have finished their programs.

Emerging technologies borrowed $150,000 from the county’s revolving loan fund in 2005. Hancock Regional Planning Commission director Matt Cordonnier says in total, the company will pay back around 2/3 of the amount borrowed. He added the debt forgiveness plan means the county’s revolving loan fund ends up losing around $50,000 instead of more than $100,000.

Commissioner Mark Gazarek stressed that revolving loan money comes from the state and not the county’s general fund.