RALEIGH, N.C. (AP) – Leaders of the N.C. Rural Economic Development Center are discussing the agency’s future following a critical review of its operations.
The News & Observer of Raleigh reports (http://bit.ly/191eXoR) those leaders said they intend to focus on small business needs in a diminished form as they deal with a loss in its ability to handle millions in state funding.
Under a plan discussed Wednesday, the center would no longer make grants. It would oversee several smaller loan programs focusing on small businesses.
A report from State Auditor Beth Wood found grant reporting requirements weren’t carried out, job creation measures for grant recipients failed to be verified and pay of then-President Billy Ray Hall was unreasonable.
Hall retired and center chairwoman Valeria Lee resigned.
Information from: The News & Observer, http://www.newsobserver.com
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