(KCPW News) KCPW Public Radio has withdrawn its application for a loan of up to $250,000 from Salt Lake City. The radio station had sought the help as a bridge loan, in order to make a payment towards the purchase of KCPW’s broadcast license that’s due by the end of October. But Mayor Ralph Becker says it’s not appropriate for the city to make the loan.
In a letter sent to city council members and delivered to KCPW, Becker says granting a loan to one non-profit organization without a fund or process for other nonprofits in a similar situation would set a bad fiscal precedent for the city.
KCPW President and CEO Ed Sweeney says to his surprise, an anonymous individual has stepped in to make the loan instead, based upon the city’s rejection.
“They stepped up and said look, I’ll make the loan to KCPW, it’s an anonymous individual at this time, on the same terms or better terms than what the city had to offer. And it was predicated expressly upon the city not being able to do it,” he says.
Members of the Salt Lake City Council had expressed support for making the loan to KCPW, but Sweeney says with Becker clearly indicating his disapproval, he does not want the station to be in the middle of a conflict between the mayor and city council.
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