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Council OKs $620,173.45 UDAG loan for Fastenal building redevelopment
Summary
Alliance City Council unanimously adopted Ordinance 014-26 to provide a $620,173.45 UDAG loan to Trad Investments, LLC and Ballher, LTD for redevelopment of the Fastenal building; council said the company has been operating for ten years and committee review occurred.
Council members unanimously approved Ordinance 014-26 on Feb. 2, 2026, authorizing a UDAG loan of $620,173.45 to Trad Investments, LLC and Ballher, LTD for redevelopment of the former Fastenal building. Dr. Lohnes introduced the ordinance, noting the business’ tenure and committee vetting; rules were suspended and the ordinance was adopted by roll call.
Safety Service Director Mike Dreger told council that future ordinance packets will include public presentations showing financial details so the public can see project specifics. The meeting minutes do not list loan covenants or repayment terms; those are expected to be finalized during subsequent contract steps.
The vote was unanimous and the ordinance was declared an emergency and enacted. Council staff will proceed with contract documentation and project coordination with the developer.
