The Crookston Housing and Economic Development Authority (CHEDA) met on Tuesday morning at Valley Technology Park.
CHEDA TO SUBMIT APPLICATION TO NEWLY DEVELOPED GREEN BANK
The board began the meeting by discussing the Minnesota Climate Innovation Finance Authority and the newly developed Green Bank (Fresh Energy). The Green Bank has received $45 million for initial seed appropriation, which can be distributed to organizations nationwide that submit a strategic plan. The strategic plan must establish targets for several projects: investment levels, greenhouse gas emissions reduction levels, installed energy capacity, or energy savings. The Finance Authority is intended to be a technical assistance resource for borrowers (such as CHEDA). In addition, it is expected to form partnerships with contractors and inform them of financing programs.
CHEDA is planning on submitting a strategic plan to the Minnesota Climate Innovation Finance Authority to receive funds for the weatherization plan for infrastructure and housing in Crookston. CHEDA has not disclosed how much they will ask for or when to submit the request. The Finance Authority will accept the strategic plan applications through December 15, 2024.
CHEDA LOOKS TO APPLY FOR LOCAL CLIMATE ACTION GRANT
The board approved the Crookston EDA to apply for the local Climate Action Grant in the amount of $50,000 through the Minnesota Pollution Control Agency. “The Minnesota Pollution Control Agency has a Climate Action Grant available,” said Crookston EDA Director Karie Kirschbaum, “This is up to $50,000 where you can look at different projects to help your cities, so we are considering a couple of options. One of them is to put solar panels up by Valley Tech to help offset our electric bills and to keep our tax dollars down so we don’t have to pay quite as much, and we’re considering a couple of other options. We just wanted approval to move forward once we identify the project.”
The final item the board approved was the agreement with the City of Crookston to disburse the Small Cities Development Grant (SCDG) Local Program Income.
The City was ultimately awarded $1.2 million in grant funding for the SCDG program. The EDA will have the responsibility of initiating and managing the program in which they will decide where the funding goes toward. The EDA will initially use funds from their budget regarding the SCDG; then, they will send the invoices to the City and reimburse them with the grant funding that has been received.
The consent agenda included the approval of minutes from the February 29 meeting. It also included the approval of bills and disbursements in the amount of $236,050.59. CHEDA will meet again on Tuesday, April 30, at Valley Technology Park.
