Published On: Thu, Oct 27th, 2011

Hearing is held to aid new industry with grant

HARTINGTON — A public hearing was held Monday concerning $505,000 in funds that would be used to help put a business in the Deerfield building just west of Hartington along Hwy 84.
The manufacturing business would be located in the building owned by Bob Eickhoff’s CORAE Inc. and at one time housed Neu Cheese Co.
The business would initially provide about 20 jobs.
The cost of the total project is $1,655,000 with matching funds of $1,150,000 being provided by the business in equity and other financing.

The Hartington City Council voted Tuesday on whether to proceed with an application for a Community Development Block Grant (CDBG) for $505,000.
The amount would become part of a revolving loan for the business, according to Chris Miller who is the President of the Hartington Economic Dev.
“The money would be funneled through the City but the funds will be handled by the Northeast Economic Development Inc. out of Norfolk,” Miller said. “The money will be dispersed through a revolving loan account that will be handled by the Northeast Economic Development.”
The money would be paid back by the manufacturing business and go back into the revolving loan funds.
“The city will in no way be financially liable for anything,” Miller said. “Other communities including Hartington will be able to go back and apply for those loans.”
If the $505,000 CDBG application is approved, the Northeast Economic Development will use $5,000 for administration fees.
A public hearing was held to give residents an opportunity to comment or ask questions concerning the application for the grant.
No negative remarks were made concerning the application during the hearing.

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