18 more investors wait while city appeals termination of program
February 12, 2011 2:00 PM
Brooke Edwards

VICTORVILLE • The city agreed to refund $500,000 to an Asian investor who loaned the money through Victorville’s EB-5 program — a program that’s since been terminated by the federal government.

Victorville just approved spending another $50,000 to fight that termination, with EB-5 money the city’s only viable option to refinance its wastewater treatment plant and replenish borrowed funds.

In the meantime, Mayor Ryan McEachron said the city decided to refund that one loan to avoid a lawsuit from the uneasy investor.

To read more about the EB-5 refund, see the full story in Sunday’s Press Dispatch. Get complete stories every day with the “exactly as printed” Daily Press E-edition, only $5 per month! Click here to try it free for 7 days. To subscribe to the Daily Press in print or online, call (760) 241-7755, 1-800-553-2006 or click here.

Brooke Edwards may be reached at (760) 955-5358 or at bedwards@VVDailyPress.com.