Defiance Local News

 

HENRY COUNTY COMMISSIONERS APPROVE PAYBACK SCHEDULE WITH COLARAFFI

 

A sizable past due account that was owed to the Henry County Commissioners may be closer to a resolution.   Commissioners have signed a pay-back agreement with Peter Colaraffi  from Revenge Designs, to settle a loan of just over $300,000 that was tied to the HP-2G project that never materialized.   Colaraffi was given the money to help with start-up of a car production facility in Henry County, in a check released by then county commissioner president Rich Meyers.   Maumee Valley Planning Agency was involved in trying to get the money back, and filed suit in Defiance County against Colaraffi and Revenge Designs.

            As part of the payback agreement signed by Henry County Commissioners, a check for $25,000 has already been received from Colaraffi. And he has agreed to 9 monthly payments, to be culminated with a payment of $160,000, due at the end of November.   Commissioner Hastedt reports this would total $203,000 in payments toward the overdue loan; and would stop the court proceedings. But if any payment is missed; the court case would be refilled, seeking the full amount.

 

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