Front Royal Elections 2020 issues: A conversation with Jeff Browne, EDA Chairman

Meet the Candidates is a series on the Royal Examiner where we will sit down with each candidate in our local election and discuss issues that are important to all of us. The Royal Examiner asked Michael Graham, a former Town Manager of Front Royal to host these conversations. As a former Town Manager, Michael has an insight into the issues facing the Town and hopefully be able to bring out from each candidate their vision and plan if they are to be elected in the November 3rd election.

One of the major issues brought out in these interviews is the financial arrangements regarding the Front Royal Police Department.  Graham invited Jeff Browne, EDA Chairman to our studio to brings us up-to-date with this issue.

Below is the chart of the loan amounts and interest on the loan as outlined in the video.

Requisitions 1 through 44  – $8,423,161.17
Legal Fees for refinancing  – $ 16,536.00
United Draw Fees  – $ 1,100.00

Interest from date of requisition (#1-#7) through 7/19/2018
First Bank & Trust @ 3.7525% $ 23,274.58

Interest from date of requisition (#8-#13) through 10/31/2018
First Bank & Trust @ 3.7525% $ 13,998.25

Interest 7/20/2018 through 10/31/2019 (Req #1-#7)
United Bank @ 3% $ 116,974.46

Interest 11/1/2018 through 10/31/2019 (Req #8-#13)
United Bank @ 3% $ 56,530.20

Interest from date of requisition (#14-#44) through 10/31/2019
United Bank @ 3% $ 81,078.73

Interest 11/1/2019 through 12/31/2019 (Req #1-#44)
United Bank @ 3% $ 42,817.73

Interest 1/1/2020 through 1/31/2020 (Req #1-#44)
United Bank @ 3% $ 21,759.83

Interest 2/1/2020 through 2/29/2020 (Req #1-#44)
United Bank @ 3% $ 20,355.97

Interest 3/1/2020 through 3/31/2020 (Req #1-#44)
United Bank @ 3% $ 21,759.83

Interest 4/1/2020 through 4/30/2020 (Req #1-#44)
United Bank @ 3% $ 21,057.90

Interest 5/1/2020 through 5/31/2020 (Req #1-#44)
United Bank @ 3% $ 21,759.83

Interest 6/1/2020 through 6/30/2020 (Req #1-#44)
United Bank @ 3% $ 21,057.90

Interest 7/1/2020 through 7/31/2020 (Req #1-#44)
United Bank @ 3% $ 21,759.83

Interest 8/1/2020 through 8/31/2020 (Req #1-#44)
United Bank @ 3% $ 21,759.83

TOTAL DUE  – $8,946,742.04