The mission of the Sleepy Eye Economic Development Authority is to maintain and improve the community through the retention and growth of business, industry, and services.
- Complete Phase Two of Veteran’s Park
- Downtown Revitalization – Main Street Program
- Secure at least one business on the Snow property
- The June EDA Board meeting began with the approval of the minutes from the meeting held in April, and also the approval of the financial report for April and May. The Inn of Seven Gables and the Eagles Club are currently delinquent with their EDA Revolving Loan payments. Efforts continue to be made to bring them up to date.
- The EDA Board approved the contribution to the Small Business Development Center (SBDC). This organization provides assistance to beginning businesses and helps them set up their business plan and also help implement it. There are a few businesses here in Sleepy Eye that have taken advantage of using this organization, and a couple of years ago, the EDA implemented the use of this organization into their guidelines for usage when applying for a loan from the EDA Revolving Loan Fund.
- We are currently planning a second committee meeting to discuss developing and implementing programs to pursue in regard to a sign and awning program, a downtown storefront revitalization program and a commercial rehab program. The committee is going to discuss these three possibilities and others, and then would like to meet with the City Council Finance Committee and sit down and come up with making some of these a reality.
- The board discussed some of the inquiries on the Snow property and will be working with local realtors as these inquiries move to actually going into action. One residential lot has been sold, and there are three or four local and new businesses that we have had discussions with as well.
- An update was given regarding the activity and installation of the objects for Phase Two of Veteran’s Park. The Memorial Wall, the KIA Memorial, benches and tables, as well as signage for the park. This information is available to the public on SE Online, and will soon also be in the Herald-Dispatch, regarding donations and procedures for purchasing plates for the memorial wall, purchasing benches, planters, picnic tables and other items that will be located in the park.
- The board approved two Capital Improvement Loan buydown applications, pending the approval of the bids and invoices from the work that is going to be done on these two downtown businesses.