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EDA approves forgivable loans for five child-care providers; agencies recap provider appreciation event
Summary
The EDA approved forgivable loan awards for Little Sprouts, Little Eagles Preschool, Lul Omar’s Daycare, Kassy’s Daycare, and Cheryl’s Daycare and recapped a provider appreciation event led by SMIF, First Children’s Finance, and Families First.
Administrator Bromeland reported at the May 28 Economic Development Authority meeting that five child-care providers were approved for forgivable loan funding: Little Sprouts; Little Eagles Preschool; Lul Omar’s Daycare; Kassy’s Daycare; and Cheryl’s Daycare. Bromeland said two providers have signed the required documents and one has submitted a draw request.
The board also recapped a Provider Appreciation event. Southern Minnesota Initiative Foundation (SMIF) provided a meal catered by Chipotle; SMIF, First Children’s Finance, and Families First delivered presentations that included resources for childcare providers. Pam DeMarce told the board she had contacted the city about potentially partnering with the Mankato Rotary to host one larger event in the future.
Administrator Bromeland clarified that the SCDP account balance of $18,599.96 can be used for residential housing rehabilitation, commercial rehabilitation, and public facility improvements, noting these are the stated allowable uses for that account. The meeting record did not specify loan award dollar amounts for each provider.
