News Column

BRIEF: East Grand Forks official who signed unpaid loans on administrative leave

May 7, 2014

Grand Forks Herald



May 07--Jim Richter, East Grand Forks' director of its Economic Development and Housing Authority, has been placed on paid administrative leave, said City Administrator David Murphy during a City Council meeting Tuesday.

Murphy revealed last week that a $510,000 loan from the EDHA made to owners of a downtown building in 1999 had never been paid, even though the recipients were required to start $30,000 annual payments in 2003.

Richter signed the original loan agreement with Boardwalk Enterprises for the Boardwalk building, which houses restaurants on the city's riverfront.

This is a developing story. Updated information will be posted later today.

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Source: Grand Forks Herald (ND)