SUMMERSIDE, P.E.I. — Summerside city council has agreed to guarantee a loan sought by Generation XX for the next phase of its extensive renovations.
Generation XX is a youth and teen-focused non-governmental organization in the city. It has been undergoing renovations for some time and is now planning to move on the second phase of the work, which is expected to cost $950,000.
The organization has or is working towards securing most of the funding but it will require taking out an additional loan of $253,000. It has asked the city to act as a guarantor and has offered up its facility at 328 Notre Dame St.as security.
Council voted unanimously during its monthly meeting Monday night to accept the proposal.
