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St. James EDA reviews finances, outstanding loan tied to Collage St. James and apartment repairs
Summary
Economic Development Director Brianna Sanders presented the EDA’s financial report noting outstanding bonds and a remaining loan balance related to Collage St. James, pending review by the Watonwan County Loan Committee; the board approved the financial report and discussed repairs at Lake Lane Apartments and possible renovation funding for 500 Armstrong Blvd N.
Brianna Sanders, St. James Economic Development Director, presented the EDA’s financial report at the June 9 meeting, noting outstanding bonds and a remaining loan balance connected with Collage St. James. Sanders said the Watonwan County Loan Committee will review that loan at a later meeting because the business involved has closed.
Sanders outlined pending work at Lake Lane Apartments, including a shed purchase and fence replacement, and said the board discussed whether funding is available to assist renovations at 500 Armstrong Blvd N. The minutes do not specify dollar amounts for the outstanding bonds, the remaining loan balance, or the potential renovation assistance.
The EDA moved to approve the financial report. Mark Johnson made the motion, Travis Elg seconded it, and the board approved the report 5-0. The minutes record no abstentions or dissent on this vote.
The board did not take a separate funding action for the Lake Lane or 500 Armstrong items during this meeting; Sanders indicated only that those items are pending and that staff will follow up. The minutes note the Watonwan County Loan Committee will review the Collage St. James loan but do not specify a meeting date or next steps for approval authority.
