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Council approves $24,999.99 commercial loan for Lac du Lune property rehab
Summary
The council unanimously approved a $24,999.99 commercial loan through the city's program to support Max Ducharme's Lac du Lune LLC property rehabilitation and local housing recruitment efforts.
The International Falls City Council on Aug. 4 approved a commercial loan of $24,999.99 under the city’s commercial loan program to Max Ducharme of Lac du Lune LLC, with the motion carried unanimously.
Ducharme told the council he and his wife are renovating houses in International Falls to encourage new residents to move to town; he said the city program’s low-interest loan helps revitalize local real estate and increases rental supply. The council noted the city receives a modest financial return from that program and thanked the applicants for bringing households back to the community.
