BEATRICE, Neb. (AP) — The Beatrice City Council has written off $880,000 in outstanding balances on three loans with companies that are no longer operating.

Council members wrote off the balances Monday night after city auditors expressed concern over the debt. The Beatrice Sun (http://bit.ly/1QZ0uQg ) reports that the city wrote off a $250,000 loan for Store Kraft, $330,000 of a $600,000 loan for Store Kraft subsidiary 5Stat, and a $300,000 loan for Blue Valley Automation.

City Administrator Tobias Tempelmeyer says the city will continue to collect the money owed on the Community Development Block Grant loans.

Community Development Block Grant loans are meant to support business and activities that stimulate job creation and economic expansion.