PIMA — It’s still a waiting game to see if a Circle K truck stop will come to Pima.
During Tuesday’s meeting, the Pima Town Council adjourned into closed executive session to speak with the town’s attorney over a proposal to use town assets as collateral so the McRea family could obtain a USDA loan through Graham County Co-op.
However, when the council returned from the nearly one-hour long executive session, the council moved on to the next item of business on the agenda and the McRea proposal was not discussed.
After the meeting, Mayor Brian Paull said the council is still gathering information, and the issue might be taken up in a special meeting later this month or at the council’s regular meeting in September.
In June, MiQuel McRea asked the council to put up $3 million in town assets as collateral for a $2 million USDA loan that would be given to the Co-op to disburse to the McRea family for development of the truck stop. The loan requires 200 percent collateral, and McRea told the council her family could muster about $1 million.
Build-out of the truck stop is estimated at about $5 million, and McRea told the council in June her family is investigating another USDA loan program — the OneRD Guarantee Loan Initiative — for the remaining $3 million.
