A $5.8 million bond issued to the City of Marion in 2011 to help pay for projects, including the failed Old Y development, could be paid off in full this year.

Although the city’s Community Revitalization Enhancement District (CReED) board was set to expire at the end of 2019, the board met Friday in its first meeting since January of last year. Commission Attorney Herb Spitzer said he reviewed regulations which revealed the commission can continue to operate as long as it still has financial obligations and/or funds in its account, and the board is responsible to pay the 2011 bond debt.

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