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Tue., Jul. 22
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City, theater owner disagree over loan

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OGDENSBURG - Projected job creation disagreements Monday led the Ogdensburg Growth Fund Development Corp. and the owner of a movie theater to part ways over how much he can borrow for improvements.

The city’s lending agency offered to loan Plattsburgh developer Gilbert J. Jones $60,000 instead the $100,000 he has asked for to install digital projection equipment for his twin-screen Ogdensburg Cinema I and II theaters at 219 Ford St. Both sums come with 3.25 percent interest rates payable over seven years.

Mr. Jones introduced a new set of terms after the meeting.

“I might consider $60,000 at zero percent interest in four years,” he said. “I’m not going to re-open it unless they consider my request.”

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