EDA Approves Historical Society Loan Request

At Thursday morning’s meeting, the Economic Development Authority reviewed and approved a request by the Northfield Historical Society for $75,000 of Downtown Revolving Loan Funds.

The Historical Society will use the funds to restore the roof of the Scriver Building to its original design (repairing the leaks in the process), create new exhibit space to expand their offerings, and to address interior wiring, plumbing, and soundproofing issues.

This work will be the first phase of the planned restoration of this important downtown building and is expected to be completed in time for the July 4th celebration.

The NDDC had worked with the EDA to make the Downtown Revolving Loan Fund more “user-friendly” in the hopes of stimulating just this type of exciting project. This is the first loan approved since the terms of the program were revised and the first loan in 2005.

For more information on the Downtown Revolving Loan Fund, call City Economic Development Specialist Deanna Kuennen at 645-3069.