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Cottage Grove EDA approves $100,000 forgivable loan to restore Cedarhurst as wedding venue
Summary
The Cottage Grove Economic Development Authority on Aug. 12 approved a $100,000 forgivable loan to Bellagala to rehabilitate the historic Cedarhurst mansion into a year‑round wedding and events venue, contingent on project completion and lien clearance.
The Cottage Grove Economic Development Authority on Aug. 12 approved a $100,000 forgivable loan to Bellagala to help restore the Cedarhurst mansion and convert it into a year‑round wedding and events venue.
The EDA approved the business subsidy agreement by motion of EDA member Kambata, seconded by EDA member John Baptiste; the motion carried on a voice vote with all members present saying “aye.”
The loan is structured as a forgivable loan with a five‑year forgiveness period. ‘‘The subsidy would be a forgivable loan, which would be for 5 years after they complete the project just to ensure that the ownership maintains the same and the building is still operational,’’ Administrator Leavitt told the authority. Leavitt said the $100,000 would be disbursed after project completion once the city verifies that contractors have been paid and that no liens exist on the property.
Bellagala representatives, including Ben Wikstrom (owner’s…
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