2/4/2013 11:35:00 AM Windom EDA approves grant, industrial park plans
At a special meeting this afternoon, the Windom Economic Development Authority approved key elements of its North Windom Industrial Park project.
The board approved the final content of a state grant agreement. The grant, which calls for matching funds, exceeds $1 million. However, due to significant changes to the Highway 71 turning lane portion of the project, the state will cover a much higher percentage of the project than initially thought.
The total state participation in the project is now projected at just over $815,000. The only project costs that must be paid by the City of Windom are those related to utilities. The city must pay 50% of the utility costs.
Windom EDA Executive Aaron Backman said a critical new development is the fact that the state will cover a far greater share of the Highway 71 turning lane project than initially expected. The reason for this is that the turning lane is far larger than expected.
At the industrial park's entrance, which is across from County Road 15, the highway will essentially be five lanes wide.
The EDA board met in a closed session about lot values and potential for future land sales within the industrial park. Backman said there will be more discussions on this topic at future EDA meetings.
The EDA also approved plans for an application for a new potential grant program which could be tapped for future projects. Backman said this is a very important development and could play a key role in future development projects.