By Tucker Henderson

Reporter

The New York Mills Economic Development Authority met for their regularly scheduled meeting last Wednesday to discuss matters relating to economic development within the city.  ¶  The board is maintaining a healthy revolving loan fund balance with all loans current or ahead and a balance of $213,364.27 available for local business ventures seeking financial assistance.  ¶  Jordan Grossman of Community Economic Development Associates (CEDA) joined the meeting virtually and asked the board what they would like to do going forward with Newman Outdoor Advertising opportunities that were discussed last month. The cost of the proposed advertising in the Fargo Metro area and other regions come to $8,316 and is covered completely by CEDA funding. The board decided to go ahead with the proposal.  

Grossman also asked about going forward with promotional videos of business owners in town who have received Downtown Matching Grant Program funds, as well as a business workshop idea that was previously discussed. Both were okayed by the board.

Only one Downtown Matching Grant Program application was submitted this past month by Designs by Tes for a new door totaling $1,400. The application was approved by the board to match 50 percent of the cost. 

The board also discussed approving an application for interior updates from Mills Country Market that has been tabled for the past couple months due to the interior versus exterior requirements. The board decided to approve the grant for the cost and will total $5,000 in conjunction with the business’ previous exterior grant. If grant funds are not fully dispersed in December to other businesses, the board will discuss the approval of more funds for the interior update cost for Mills Country Market which is allowed in their original grant application stipulations. Tim Muehler abstained from the vote. 

The board updated the application to reapply for the funding for next year. They updated the requirements so that interior updates are an option for funding. The $5,000 maximum was suggested to remain to help spread out the money around to as many businesses as possible. The application was approved and will be submitted to the Otter Tail County Community Development Agency board.

Julie Roberts gave an update on South Point and the apartment building, which will have a December 1 move-in date for new tenants. They are finalizing the building and will be hosting walkthroughs on Saturday, Nov. 23 and Saturday, Nov. 30. The two lots across from the apartment building are tied up until Otter Tail County gives word on whether they receive grant funding or not for the senior housing project. The purchase agreement expires at the end of the year and is contingent on that funding.

In other news

• Julie Roberts said that one lot was purchased in the Country View Addition and a spec. home will be built there in the spring. That leaves five lots remaining in the addition.

• A meeting about the Otter Tail County resource center was had last Monday and the NY Mills City Center is still slated to host the location. The participants learned more about what a resource center offers its area communities.

• The next meeting will be Wednesday, Dec. 18 at 8:30 a.m.