DERBY — An indoor community recreation center in northern Vermont has closed due to financial problems.
Community National Bank has taken over Indoor Recreation of Orleans known as IROC in Derby on Sunday after the facility failed to pay its mortgage for months.
The chairman of the board and executive director said he hopes that the facility can be purchased and continue serving the entire community.
The center has a pool, skating rink, gym and offered fitness and recreation programs, as well as basketball, volleyball and soccer leagues.
The Caledonia Record reported that IROC’s board of directors could not raise enough money to secure a low-interest loan to pay off about $1 million in debt. The facility also needed $150,000 in maintenance.MORE IN Vermont NewsA confidential memo obtained by Vermont Public Radio shows that the Agency of Education is still... Full Story
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