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The Sleepy Eye Herald Dispatch - Sleepy Eye, MN
  • December EDA board meeting update

  • The December EDA Board Meeting again began with discussion on the current status of the EDA delinquent loan held by Shane’s Tire which dates back to 2007. City Attorney Nip Hauser, is continuing to work with the loan holder to finalize a solution to get this loan current, or paid in full, so that this matter can come to a close.
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  • The December EDA Board Meeting again began with discussion on the current status of the EDA delinquent loan held by Shane’s Tire which dates back to 2007. City Attorney Nip Hauser, is continuing to work with the loan holder to finalize a solution to get this loan current, or paid in full, so that this matter can come to a close.
     
    EDA Board members also met with representatives from the Eagles Club to discuss their current delinquent EDA loan. The EDA has requested information, and for improved communication, from the Fraternal Order of Eagles to keep the EDA updated on pertinent information regarding the repayment of their EDA loan.
     
    An EDA Loan Summary that displayed all EDA loans issued over the years was shared with the board members. The 25 EDA Rehab Loans issued were listed individually by loan amounts, with interest paid, and of these 25 loans, 23 have been repaid, leaving only two loans that were not repaid in full due to bankruptcy or going out of business. That is a 92 percent success rate for EDA Rehab Loans. There have been 46 EDA Revolving Fund loans administered since 1993; they were listed individually by loan amounts, with interest paid. Five of those loans have been lost due to bankruptcy, 30 have been repaid in full, and 11 are currently active. The Revolving Loan Fund has had an 86 percent success rate.
     
    Bob Elston from the PUC attended the meeting and explained some ideas on sharing PUC information on energy conservation and rebates of which Kurk could distribute to the local businesses on his regular visits with them. This information also could be displayed on the city website.
     
    The board approved paying the annual membership dues to GMRPTC, and also for two conferences that Kurk will attend. Tabled to the January meeting was consideration of the annual fee for The Center for Rural Policy & Development.
     
    Two more donations were received for the Veteran’s Park Project. There will be a committee planning meeting at the end of January for phase two of Veteran’s Park.
    Some topics were also discussed by the board regarding the 2013 Planning Meeting that will take place next month. The EDA Board will set their 2013 goals at this meeting.

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