City loans $500,000 to Bell Lumber

Bell Lumber & Pole will receive a $500,000 performance based loan from the city of Sidney.

Although this loan was already approved by the city council in fall 2012, when construction of the utility pole treatment plant was announced, the two entities officially entered into the loan agreement with city council approval this week.

The money for the loan will come from a fund authorized by the Sidney voters in 2007 specifically to be used for job creation projects. These funds are provided as an incentive for major projects like the Bell plant to attract businesses to the community. These funds...