State Turns Jekyll Loan Into Grant

The state has turned the Jekyll Island Authority’s OneGeorgia loan into a grant, which no longer has to be repaid. The announcement was made during the JIA meeting yesterday. The original $7.1 million loan was made for construction of Jekyll’s Beach Village Retail Center. Total repayment of the loan would have cost the Authority $9.9 million. To date the Authority has made payments totaling $368,000.