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EDA debates use of housing fund: $100,000 builder loans, tax‑abatement timing and program limits
Summary
Board members reviewed Fund 208 (housing) and discussed whether to continue tax‑abatement incentives and a $100,000 builder loan program as lot inventory falls to roughly 10 remaining; proposals included limiting concurrent loans and preserving a $150,000 cushion to meet abatement obligations.
The East Grand Forks Economic Development Authority spent a substantial portion of its Jan. 28 meeting reviewing Fund 208 (the housing fund) and weighing how to use remaining resources as the EDA’s unsold lot inventory falls to roughly 10 parcels.
Carla, who presented draft year‑end account figures, said rebates remaining in the 280 housing fund (about $45,500) will be moved to fund 620 (EDA general) after accounts payable are posted and that final December numbers will be reported next month. Board members said the…
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