Former Dollar Square Owner Tim Washington is late repaying his façade grant approved by ex-ADICA director Don Buie
ADICA notified Tim Washington that he defaulted on his loans and at tonight’s meeting they officially placed his loan in the “bad debt” category.
Interim ADICA Director James Taylor says it was the right thing to do. “We simply put it in a bad debt category because we don’t believe we should plan to use that money when we’re unlikely to get it in a timely fashion” says Taylor.
Washington is late paying his December and January payments of $500 each to ADICA.
When Taylor met with Washington he said he wants to repay the façade grant, however he’s unemployed and doesn’t have any money.
Not defaulting on his repayment schedule was a condition of his plea bargain, so Washington is legally violating his parole and could face jail time. The board is hoping Washington finds a job so he can repay them as soon as possible.
In other news ADICA swore in new members and agreed to designate $2,500 to the Georgia Cities Foundation.
The foundation will bring 47 investors to Albany so they can decide if they want to invest in redeveloping downtown.
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