County Supervisors Discuss Community Development Fund Loan Plan

Matt Cederburg from the City of Minden and Sharon Hueftle from SCEDD visited with the Kearney County Board of Supervisors about County Economic Development funds during the March 3 meeting. They presented the rough draft of a new plan for dispersement of the funds.

In an effort to use the existing reuse funds in the County before they must be returned to the state, the County will loan the money to one or more local businesses for projects that meet requirements. The project must create one new full time position for every $35,000 borrowed.

Any revolving funds generated by the loan will be diverted to SCEDD as the NDO. The funds must be under contract by June 30 or be returned to the State.
see March 11 Courier for full story