New down-payment spending OK’d in Eagle County |

New down-payment spending OK’d in Eagle County

Vail Daily staff report
Eagle County, CO Colorado

EAGLE COUNTY, Colorado ” The county’s down payment assistance fund got another $150,000 Tuesday.

The spending was OK’d by the county commissioners Tuesday as part of the year’s second supplemental budget.

The Eagle County Loan Fund, which helps locals get money to buy homes in the valley, is the county’s most popular down payment assistance program. The commissioners committed $200,000 to the fund at the beginning of the year.

A little more than $800,000 was given to 33 people in 2008, the programs busiest year. The commissioners are putting money in the fund on a quarterly basis this year.

The withdrawal drops the county’s contingency fund from $4.75 million to $4.6 million.

The commissioners also decided to spend about $32,000 to help fund service at the county airport and had to use $15,000 out of the insurance reserve fund to cover money needed because of bus accidents. The county had $65,000 in claims and insurance covered $50,000.

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