DERBY – Phil White, executive director of IROC, released a press statement yesterday in which he said the organization is pleased with the "steady growth of town support" evident on Town Meeting Day. IROC submitted appropriation requests to 14 towns, and while many failed to come to a vote or failed to pass, IROC received $32,000 in support, up from the $4000 it received in 2011.
Support came largely from Derby, along with Coventry, Craftsbury, Glover, and Brighton.
"In addition," White wrote, "the discussion at town meeting has generated private support in two other areas of our refinancing package."
White, in a letter to the Vermont Economic Development Authority (VEDA), from whom IROC is trying to negotiate a loan that would pay off its existing debt with Community National Bank and provide funds for some major repairs, spelled out the strengths and weaknesses of IROC's current financial situation.
Stating that "Town Meeting Day left some blood on the snow," White noted that current financial straits have resulted in a decline in membership, in the sale of dasherboard ads, and a resulting decline in revenues. However, White noted four positives to support refinancing with VEDA:
For more of this story, see Friday's edition of The Newport Daily Express for March 8, 2013.