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St. Peter council approves accessibility grant changes, awards, downtown loans and a loan extension
Summary
At its June 23 meeting the council approved an amendment to accessibility-grant forgiveness rules, awarded 2025 accessibility grants to seven applicants totaling about $56,439, approved right-of-way license and loans for a downtown business (Timeless), and authorized a loan extension for Spring Touch at 430 Ritz Street.
The St. Peter City Council approved a package of administrative and economic-development actions on Monday, including a change to accessibility-grant forgiveness rules, award decisions for the 2025 Accessibility Improvement Grant program, a right-of-way license and two downtown loans for a business called Timeless, and a loan extension for Spring Touch.
Accessibility grant policy and awards: staff proposed an amendment to the Accessibility Improvement Grant program guidelines to immediately fully forgive awards rather than amortize forgiveness over 15 years for amounts that exceed administrative-reporting thresholds. The change stemmed from the finance director’s review of tax- and accounting-related tracking burdens for awards or loans above about $9,000. The council approved the amendment after the EDA recommended the change.
The council then approved the 2025 Accessibility Improvement Grant awards. Staff said the program budget was approximately $55,000 (interest earned on revolving loan funds); the review committee received 11 applications totaling about $103,000 in requests and recommended funding seven businesses and organizations for a total of $56,439 as listed in the packet.
Downtown accessibility improvements and loans for Timeless: Timeless was recommended for two approvals: a license to place a roughly 3½–4-foot ramp in the Park Row sidewalk (right-of-way) and two loan awards to support exterior and interior improvements. The CBD exterior loan request was roughly $19,416 (up to 90% funded with a 10% match, 0% amortized over 10 years and a $5,000 potential forgiveness at payoff), and a revolving-loan request of about $26,650 (about 5.5% interest amortized over 20 years). Both EDA and loan review committees recommended approval, and the council voted to adopt the resolutions.
Spring Touch loan extension: the council approved a loan extension for Spring Touch (430 Ritz Street). Staff said the original loan had been issued in 2015 and recommended extending the balance (reported at about $213,000) for 10 years at roughly 5.5% per the program’s prime-rate-based guidance; the council approved the extension.
Votes at a glance: the council approved the ADA grant guideline amendment; approved the 2025 accessibility grant awards (seven applicants, ~$56,439); approved Timeless’s ramp license and both CBD and revolving loans; and approved the Spring Touch loan extension. All items carried on motion and recorded 'Aye' votes during roll calls.
What’s next: staff will finalize grant agreements and loan documents, manage the right-of-way license, and return with any follow-up items as projects progress.
