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Ivanhoe council approves $30,000 revolving loan for Kulla Repair and Towing
Summary
The Ivanhoe City Council approved a $30,000 revolving loan to Kulla Repair and Towing to fund building improvements including raising the roof, pouring concrete, installing insulation, adding a restroom and connecting to water and sewer.
The Ivanhoe City Council on Oct. 13 approved a $30,000 revolving loan to Kulla Repair and Towing to support building upgrades. The loan was requested after owner Kyle Kulla told the council he purchased the building on a contract for deed and needs funds to raise the roof, pour concrete, add insulation and a restroom, and connect to water and sewer.
City Administrator Dianne Beckendorf and Vince Robinson of the Lincoln County HRA attended the public-comment portion to present the project status and the business case for the loan. On a motion by Council Member Adam Panka, seconded by Council Member Kyle Krier, the council voted to approve the revolving loan.
Why it matters: the loan aims to rehabilitate a local small business and preserve a service in town by helping the owner meet building- and utility-related requirements. The council recorded no conditions beyond approving the loan in the meeting minutes.
What’s next: council action at the Oct. 13 meeting authorized the loan; any required loan documents, repayment terms and implementation steps were not specified in the minutes and will be handled by city staff and the HRA.
