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Edina HRA approves Spark support for three small businesses, including $200,000 forgivable loan for Americana
Summary
The Edina HRA approved a $200,000 forgivable loan for a $3 million Americana restaurant redevelopment on France Avenue and two streamlined Spark grants (up to $24,000 each) for Coders Clubhouse and JJ’s Poke to fund permanent physical improvements; motions were unanimous or carried by voice vote.
The Edina Housing and Redevelopment Authority on Dec. 11 approved a package of Spark program awards intended to spur small-business investment along France Avenue and nearby retail corridors.
The board approved a forgivable loan of $200,000 to support an Americana restaurant redevelopment at 5036 France Avenue, part of a project the city described as roughly $3,000,000 in total construction. Economic development manager Bill Neuendorf told commissioners the loan would be structured as a reimbursable, forgivable loan that funds only physical improvements that remain with the property, and that forgiveness is conditioned in the contract. "The total forgivable loan amount that we're looking at and proposing this morning is $200,000 out of a…
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