Abraham asks Finance Committee to review loan status

NORWICH – At least one politician wants to keep a closer eye on the city’s outstanding business loans. Tuesday night, First Ward Alderman A. Anthony Abraham attended the City of Norwich Finance and Personnel Committee meeting to discuss his recommendation that economic development loans be monitored more closely.

Abraham wrote a letter to the mayor and each of the Common Council members suggesting a motion be passed that would give the Finance Committee the responsibility of monitoring all economic and community development loans and presenting the information to the full council. He presented his idea to the committee Tuesday night.

“That way we can be informed of the status of each loan, decide who is in default and decide what action needs to be taken,” Abraham said.

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