| Fifth Third gives Deer Valley more credit
The new loan and security agreement provides for a revolving line of credit of no more than $2.5 million, according to an April 16 filing with the Securities and Exchange Commission. The agreement provides a standby source of working capital, letters of credit required by terms of some repurchase agreements and performance bonds, and financing for potential acquisitions of new manufacturing facilities or subsidiaries. Deer Valley also renewed an existing agreement providing for a $2.5 million revolving line of credit, the filing said. .
Risky stretch of Rte. 17B set to be widened soon
This summer, the Department of Transportation will widen a half-mile section from Kaufman Road to Hamilton Road, at a cost of $1.9 million. The DOT will add a 12-foot lane and build two large culverts by this fall, said project manager Brian Doak, who works in the Binghamton office. The stretch runs in the Town of Thompson, just west of the Monticello Gaming & Raceway to the Kinnebrook manufactured-homes community. Here, the road narrows from four to two lanes. Here, the DOT says, drivers are twice as likely to get into an accident than in most other sections of Route 17B. There has been one accident for every 2 million cars, according to a 2001 study. That's twice the accident rate as the state average for a comparable road. But although many cars have crashed along this half-mile stretch, this is not the deadliest section.
Mobile Home Residents Buy Park
EXETER, N.H. -- The residents of an Exeter mobile home park have purchased the land under their homes in the largest deal of its kind in New Hampshire. The Exeter River Manufactured Housing Cooperative bought the Lindenshire Mobile Home Park last week for $15.6 million. The 89-acre park is home to 392 households. Chris Clasby of the New Hampshire Community Loan Fund said the sale gives residents security because they won't have to worry about the park being sold and will have control over their rents. The loan fund provided the group with a $3 million second mortgage. .
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