Thumbnail photo by Gavin Van Alstine
Updated at 1:52 p.m. to correct an error about the Harbor District’s loan status with the USDA. According to CCHD financial advisor Sandy Moreno, the agency has 120 days to make a loan payment to the agency or it runs the risk of defaulting on the loan.
Crescent City Harbor’s financial advisor said the agency has 120 days to make a loan payment to the U.S. Department of Agriculture or it runs the risk of defaulting on its loan.
Crescent City Harbor’s financial advisor said the agency has 120 days to reinstate property insurance for its inner boat basin or its loan with the U.S. Department of Agriculture will be considered delinquent.
Reporting to the Harbor District Board following a meeting with USDA officials last week, Sandy Moreno said she and Harbormaster Mike Rademaker hope to get the district’s loan payments reduced, which would improve cash flow.
But if the marina isn’t insured within 120 days doesn’t make a payment within four months, the USDA will accelerate the claim to the U.S. Department of Treasury “for action,” Moreno told commissioners Wednesday.

