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EDC says $1.6M in EDA reimbursements remain unpaid, parking garage bill due late April
Summary
Staff told the Dickinson Economic Development Corporation that about $1,600,000 in Economic Development Administration reimbursements remain outstanding, leaving roughly $650,000 due soon for the Water Street parking garage and creating a near-term cash pressure that could require using a line of credit if federal reimbursements are delayed.
Staff member said the EDC is carrying about $1,600,000 in outstanding reimbursements from the Economic Development Administration tied to Water Street work and that a partial federal shutdown has left the city without an ETA on payment. “We have about $1,600,000 still outstanding in reimbursements from the EDA,” the staff member said, and added that approximately $650,000 remains to pay on the parking garage; final inspections are targeted the week of April 21 with a certificate of occupancy around April 28.
Board members asked whether the corporation would tap a line of credit if reimbursements do not arrive. The staff member said operations have been tightened across 2026 and that the EDC is monitoring expenditures closely; with the outstanding payment the EDC estimates about five months of runway without reimbursements. The staff member said finance and administration will report back at the next meeting with an updated cash picture and that a decision about drawing credit would likely be needed in three to four months if reimbursements remain unpaid.
