Economic Development - EDA/HRA
Overview
In June of 2009 the City Council approved the formation of an Economic Development Authority with Housing Rehabilitation Authority Powers. The purpose of the Fertile EDA is to provide encouragement, loan funds and economic incentives to strengthen Fertile's economy by assisting both new and existing businesses and industries. Through its Housing Authority powers, the EDA is also able to provide low interest loans for income eligible residents for housing rehabilitation.
The EDA is comprised of a seven member Board that meets bi-monthly.
- Todd Christian, President
- Vacant, Vice President
- Vacant
- Jane Opdahl, Commissioner
- Karin Braun, Commissioner
- Mary Kiefert, Commissioner and Council Representative
- Amanda Bossman, Commissioner and Council Representative
Business Incentives
The City of Fertile EDA is offering incentives to businesses and industries that wish to locate in the Industrial Park. Lots can be purchased with a low down payment of only $2,500 and a generous two-year payment plan. As part of this payment plan, future payments can be eliminated entirely by meeting certain benchmarks established by the EDA.
Water and sewer hook-up fees are also quite low and can also be paid for over time. In addition, the City now offers free water and sewer service for two years for businesses locating within the Industrial Park. Our water and sewer rates are also quite low in comparison to surrounding communities.
Continued Growth
Since 2009 the EDA has been very active in promoting economic growth and stability by playing a vital role in the following:
- Provided 17 low interest loans to 15 businesses for start-up, rehabilitation and/or expansion.
- Provided low interest loans to three homeowners for housing improvements.
- Provided one loan to non-profit for community garden project.
- Construction of Fair Meadow Assisted Living which provides 19 assisted living apartments.
- Establishment and improvement of TIF Housing Subdivision with 18 large residential lots.
- Establishment and improvement of TIF Industrial District with 12 shovel ready lots.
- Provided for incentives to promote purchase and development of lots in Industrial Park.
For further information on Fertile's EDA and the services and assistance they provide, please contact:
Lisa Liden
Executive Director
PO Box 628
Fertile, MN 56540
(218) 945-3136
fertile@gvtel.com
