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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