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Anoka County housing board approves $25,000 forgivable loan to Anoka Technical College Foundation
Summary
The Anoka County Housing and Redevelopment Authority voted unanimously Feb. 25 to approve a $25,000 forgivable loan (contract C00114366) to the Anoka Technical College Foundation to help purchase a flatbed laser cutter; the loan is reduced by $5,000 for every 50 students trained, and staff clarified the contract's term is the fund-request window.
On Feb. 25, 2025, the Anoka County Housing and Redevelopment Authority approved a $25,000 forgivable loan to the Anoka Technical College Foundation to help purchase training equipment under contract C00114366.
The action came after the ACHRA management committee recommended the loan and staff provided details about the award and its terms. ACHRA staff member Tanya said the foundation reduced its requested amount after obtaining better pricing and other donations, and clarified that the contract term (March 1, 2025, to Feb. 28, 2026) is the period for requesting funds rather than a strict repayment window.
The loan will be reduced by $5,000 for every 50 students trained on the machine; staff reported the foundation revised its training target from 50 to up to 25 students. Trustees were told the equipment’s total cost is $181,576 and that $125,500 in other donations had already been secured. The machine was described by trustees as a flatbed laser cutter.
Trustee Schulte moved to approve the recommendation; Trustee Heinrich seconded. The roll-call vote recorded trustees Rinehart, Gamache, Schulte, Jepsen, Meissner and Heinrich voting “aye,” and the measure passed unanimously.
Supporters noted prior partnerships between the ACHRA and the technical college and a planned fundraiser in April; no amendments to the loan terms were made during the meeting. The contract identifier recorded in the meeting record is C00114366, and ACHRA staff said the loan functions as a loan agreement with forgiveness tied to student training counts.
