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County approves $125,000 economic development loan to Snowpack Foods for local cold-storage project
Summary
The board approved a $125,000 economic development loan at 3.5% interest to Snowpack Foods to build a cold-storage facility in Caledonia; the EDA recommended approval and the board also discussed matching grants and equipment costs.
The Houston County Board of Commissioners approved a $125,000 economic-development loan to Snowpack Foods to fund racking and other cold-storage equipment for a planned cold-storage facility in Caledonia.
Pete, Snowpack’s owner, told the board the project has secured a larger RFSI grant and other low-interest financing, and that the loan will cover racking and equipment costs needed to make the facility operational. The county’s Economic Development Authority (EDA) recommended the loan unanimously. The board approved a 3.5% interest rate over a 10-year term.
Snowpack Foods currently stores product out of area freezers and expects the new facility to reduce trucking costs and expand capacity for local producers. The owner said the project’s total financing package includes a state RFSI award and other program funds; the county loan is intended to fill a financing gap for equipment.
Commissioners voted to approve the loan; the board recorded the motion and a unanimous aye vote. Staff noted the facility will add local cold-storage capacity and create jobs, and the county will track project progress through the EDA.
