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County EDA designee previews entrepreneurial grants and land-purchase fund
Summary
A county EDA designee told Lindstrom officials the county is developing an entrepreneurial program offering $5,000910,000 grants/loans and has about $1.3 million in a land-purchase fund that could support future Lindstrom projects; the county representative urged Lindstrom to bring proposals when ready.
Chris, the Lindstrom designee to the county EDA, outlined two county programs that may benefit Lindstrom businesses: an entrepreneurial program offering $5,000910,000 grants or loans for new or expanding businesses (training and a business-plan requirement apply) and a prospective faade-style program that may be structured as loans or grants. He said the county has committed funds and is open to collaborating on development projects.
"We we've got like 1,300,000 in that fund," Chris said when describing a county land-purchase fund intended to help acquire business-park land. He and other officials discussed that county support would likely be structured as a loan or reimbursable assistance rather than an unconditional grant, and that the county expects a tangible development plan before committing funds. Board members asked about matching requirements and how county support might be structured; Chris said the county is willing to work with a municipality on terms.
