A natural accord
Chico Creek Nature Center agrees to loan repayment plan with city of Chico
After defaulting on an $185,000 loan to the city of Chico for about a year, the Chico Creek Nature Center has agreed to a long-term repayment plan.
The center borrowed the money in 2005 to help finance construction of The Bidwell Park Interpretive Center. As with many community-oriented programs, however, the center lost a substantial sum of grant money from the city and struggled to make ends meet; in 2013, CCNC launched a crowdfunding campaign to cover the cost of educational programs.
Caitlin Riley, executive director of CCNC, said by phone that the city has reset interest on the loan. The outstanding debt is $181,000. The new agreement will carry out over the next few decades, beginning with a $600 quarterly payment and increasing from there. After five years, the city and the center will renegotiate.