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GFDA Top Eleven 8-18-13

1) We closed a creative $983,000 loan package to finance the downtown Arvon Block development in partnership with Prairie Mountain Bank. The financing will support the historic renovation and the use of historic tax credits, as well as the two new businesses that will occupy the renovated property, the Celtic Cowboy restaurant and a boutique hotel. We used four of our financing tools to make the project work, including loans from our Brownfield fund, Downtown fund, Centene MicroBusiness fund and EDA fund. Dick Anderson Construction is the project’s general contractor.

2) Worked with a business on financing for their proposed expansion. Worked with a new entrepreneur on possible financing structures to purchase an existing business. Worked with another entrepreneur on financing options for a proposed new downtown business. Began working with a local entrepreneur on a grant application for equipment to be used in their business.

3) The City’s Planning Advisory Board approved annexation and zoning for the Talus 216-unit apartment complex development near Centene, and a minor subdivision for another phase of the Great Bear Innovation Park near MaltEurop.

8 more noteworthy events: http://www.gfdevelopment.org/news.php?nid=229

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