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EDA approves two $5,000 faade loans for Lindstrom Antique Mall
Summary
The Lindstrom EDA approved two faade loans totaling $10,000 for exterior renovations at 212740 Lake Boulevard (Lindstrom Antique Mall); staff said funds will cover window and door replacement and additional faade work and that loans are 1% interest over 10 years with annual amortized payments.
The Lindstrom Economic Development Authority approved two faade loans—$5,000 each—to support exterior renovations at the Lindstrom Antique Mall (212740 Lake Boulevard). Dan said the new building owners plan window and door replacements and other faade improvements and that the EDAs updated policy allows two loans per property for distinct eligible projects.
"What they're looking to do is a window and door replacement of all the exterior windows and doors, as well as making some faade improvements to the outside of the building," Dan said. He told the board the applicants are seeking a total of $10,000 in loan funds and that the Faade Loan Program had a balance of about $28,262 before the awards. Dan explained the loans carry "1% interest on a 10 year term" and are repaid according to an amortization schedule with annual payments.
Board members asked whether the work applies only to the ground level; staff confirmed the projects are ground-level exterior improvements and that final design approvals will proceed through the building-permit review process. A motion to accept the applications and approve the loans was moved, seconded and passed by voice vote.
