Gateway of the Americas project landowners will ask the county Board of Supervisors to approve a resolution in support of a $2.55 million U.S. Department of Agriculture loan to finance the already-pipelined South Alamo Canal.
At the time the canal was to be pipelined, the Gateway landowners paid $1.625 million up-front to the Imperial Irrigation District. Cost overruns raised the price to $2.55, with IID paying the additional amount.
If the 30-year loan is obtained, the money would go to pay back the landowners and IID, and the landowners would repay the loan over the 30 years. By 2011, IID would pay its 75 percent of cost of the pipelining to the USDA.
The Board of Supervisors meets in open session at 9:30 a.m. Tuesday in the County Administration Center, 940 W. Main St., El Centro.