The Junction City/Geary County Economic Development Commission is considering whether or not to become an E-Community and offer a new type of revolving loan fund.

The new revolving loan fund would be funded through the sale of tax credits by the EDC, that’s according to Susan Jagerson, EDC Specialist with the Junction City Area Chamber of Commerce.

“We can sell up to a maximum of $125,000 in tax credits would which would give you about $166,000 and cash in your revolving loan. It would be both state and federal tax credits so what we would do, in order to apply for the loan we would need to get verbal commitments on at least half of that amount for the tax credits, but the tax credit can benefit the taxpayer by being able to take deductions in their taxes,” said Jagerson.

Other E-Communities in the area include Pottawatomie County and Wabaunsee County.

The Economic Development Advisory Committee would be in control over the revolving loan fund through the E-Community. The current revolving loan fund being used takes final approval from the City Commission.

The EDC will consider creating the E-Community during their meeting next week.