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Hibbing council approves $250,000 interfund loan to start Dillon Road shovel‑ready work
Summary
The council approved a $250,000 interfund loan to fund initial site‑preparation work for 60 acres on Dillon Road; staff said a phase‑1 'shovel‑ready' package is expected to cost about $60,000 and that detailed bids and budgets will be returned to the council.
Hibbing — The City Council voted to authorize an interfund loan of $250,000 to begin site‑work for redevelopment of land along Dillon Road.
City planner Ms. Olavanti told the council the request, filed as interfund loan resolution 205118, "The amount that we'd like to start with is $250,000" to fund preliminary 'shovel‑ready' work for the properties the city recently purchased. She said the overall parcel totals roughly 60 acres and includes both industrial and potential housing sites; the phase‑1 shovel‑ready work alone is estimated at about $60,000 pending bids.
Olavanti described the mechanics of an interfund loan: the money would move from the general fund into the project fund and would be repaid, typically, once a developer is secured. She said the loan would carry an interest rate to protect taxpayers. Councilors pressed staff for more details on the scope and timelines; city staff said formal budgets and service agreements will be presented for approval once quotes and bids are obtained.
The council approved the resolution to make the initial designation. Next steps for staff include soliciting bids and returning with a detailed phase‑1 budget and any proposed service agreements before expenditures are charged against the loan.
The council’s vote authorizes the city to begin preliminary work that staff said is intended to make parcels more attractive to potential developers and to position the sites for commercial and residential reuse.
