Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
EDA to review $200,000 loan request and $100,000 tax‑abatement ask from House of Hoops
Summary
At its meeting, the Kasson City Economic Development Authority heard a request from House of Hoops for a $200,000 loan and a $100,000 tax abatement to cover unexpected soil remediation; staff asked the applicant to submit a full loan application for review by a loan subcommittee and aimed to return a recommendation in June.
The Kasson City Economic Development Authority (EDA) discussed a development financing request for House of Hoops during its meeting.
The Coordinator (S4) told the board that Nick Posius of House of Hoops has purchased a Main Street site and has asked the city for financial assistance, including a $100,000 tax abatement to cover unanticipated soil remediation and a $200,000 loan. “He did submit the application for tax abatement and the pre application for the loan,” the Coordinator said, and staff included a memo with valuations and estimated future tax payments.
The Coordinator said a tax‑increment financing…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
