CHEDA MEETS AND GRANTS NEW LOCAL BUSINESS 10 YEAR REVOLVING LOAN

The Crookston Housing and Economic Development Authority met Tuesday morning at Valley Technology Park and discussed housing updates, the Store Front Projects and Safe Routes to School grants, and other items. 

CHEDA discussed updates to the Diocese project. They want to do something for the community with the 20 acres behind the golf course, including housing developments. “I sent a letter a couple of weeks ago saying, ‘We’re excited people are looking at developing that property, putting housing down there, and the city excited to hear what they would need in the way of infrastructure.’ Said Executive Director of the EDA Karie Kirshbaum. “Housing is one of the top needs in Crookston.” 

The board also provided updates on the Store Front Projects. This project offers businesses updates to their property’s exterior and aesthetic. The companies get a 25% match on their application. For example, if the applicant received a grant for $5,000, the EDA will match $1,250. There have been 27 applicants for the project, and seven applications have been accepted. Applications are still open. 

The Small City Development Grant was also discussed for 1.4 million dollars and will be focused on Ward four, the Woods Edition, and downtown.

The TA Grant will be brought to the city council to approve a “letter of intent” for $600,000. The TA grant concerns the safe routes of school funds at Highland Elementary School. CHEDA discussed the Safe Routes to School project. They said that 100% of the funding will come from the Minnesota Department of Transportation, approximately $700,000. It starts at Crookston Sports Center, goes through Eickhoff Boulevard, and is meant for Highland School.

“There’s a few different grants we’re working with,” Kirshbaum explains. “I have a strong background in writing and getting grants for different cities for community organizations. I try to keep an eye on, as an economic developer, to find out what projects our public works have going on. What projects do our Parks and Rec have? We will see what we can do to find grants to offset the cost to the city. So even if we have a $200,000 project, even if I can get $50,000, that benefits the city.” 

The board also approved Brady-Martz as the financial advisor for the quarterly economic review. Brady-Martz is a recurring financial advisor for the EDA yearly; this has been supported once again but to meet four times annually.  “Brady-Martz has always been our financial advisor,” Kirshbaum explains. “They do our once a year. We hit Brady-Martz up with a lot of questions. Their auditor works with us, and he does an excellent job. There are other adjustments we’d like to see made more often. Since he’s our independent auditor, we can’t use him for that, so we have to find another person to help us reconcile some reports every quarter instead of at the end of the year like we’ve been doing.” 

The board also discussed acquiring Bob Herkenoff’s property. Herkenoff wanted a tax reduction, but the board wanted to meet with him to buy the lot outright for $66,000. The panel would also like to build housing on this property.

The board also approved a Revolving Loan Application for Jonathan Stapp and his business, Immaculate Lawns. The company specializes in lawn care and snow removal. The loan was for $2,500 per year for ten years (for a total of $25,000 over ten years), and Stapp will use it on equipment. “If I’m able to find a mid-size tractor with the snow blowers on the front and the shovels on the back,” Stapp explained. “Possibly another trailer, plows for the trucks, and keep a little on the top for payroll.” Stapp wants to build credibility so that if he wants to get another loan, he can return and get one. 

The board also discussed the Industrial Park Engineering Study. They have yet to have an environmental study done, so they need someone to come in, and the board wants to do that ahead of time. 

The consent agenda included CHEDA approving the September 26 board meeting minutes. It also approved payables and disbursements in the amount of $126,460.68.