Economic Development Authority Board
Minnesota Small Business Loan Guarantee ProgramThe Minnesota Department of Employment and Economic Development (DEED) now offers the Minnesota Small Business Loan Guarantee Program. This temporary program, established in response to the 2020 public health emergency, will help Minnesota lenders provide capital to small businesses in Minnesota affected by COVID-19. These loans can be used for a variety of purposes and can be subordinate to other financing. Allowable loan uses must be exclusively in Minnesota and include machinery or equipment purchases, maintenance, or repair; expenses related to moving into or within Minnesota; and working capital when the working capital is secured by fixed assets when possible.
Below is some informational material to find out more options available for Small Businesses who have been affected by the Corona virus.
DEED Creating Emergency Loan Program for Minnesota Small Businesses
Thousands of businesses negatively impacted by COVID-19 could be helped
Disaster Loan Assistance
PIPESTONE ECONOMIC DEVELOPMENT AUTHORITY BOARD
The Economic Development Authority Board was established in order to promote the economic, commercial, and industrial development and redevelopment of the City. The Board consists of seven (7) members, three of whom must be members of the City Council and four of whom may be any citizen residing in the City. All commissioners are appointed by the Mayor with approval of the City Council.
The terms of the four commissioners who are not members of the City Council will have initial two, three, four and five years respectively, and thereafter will have six-year terms. The terms of each commissioner who is a member of the City Council shall coincide with that commissioner's term of office as a City Council member.
The Pipestone EDA has taken an active role in the City’s effort to eliminate blight in Pipestone. Thanks to generous donations from local businesses and residents, the EDA purchased and remodeled 2 homes that had been condemned. Under the direction of the MN West Carpentry Instructor, MN West students and Pipestone Area High School students did much of the remodeling of the 2 homes, gaining valuable “hands on” experience.
Upon completion, the EDA sold the homes, recouping its costs and putting 2 once condemned properties back on the tax rolls, benefiting the County, School District and City. The EDA has just begun a 3rd remodeling project with completion expected in Spring of 2020. This joint effort by the EDA, City, MN West and Pipestone Area Schools is a unique project that is helping to reduce the number of blighted properties in the City and add to the City’s tax base. Contact Jeff Jones at 507-825-3324 for more information.
- Council Chambers
119 2nd Ave. #9
Pipestone, MN 56164
Phone: (507) 825-3324
|Kevin Paulsen||President||January 2022|
|Jim Stout||Secretary/Treasure||January 2021|
|Jeremy Whipple||Member||January 2022|
|Robert Woodbury||Member||January 2022|
|Myron Koets||Mayor||January 2021|
|Dave Kor||Member||January 2021|
|Rodger Smidt||Council Liaison||January 2023|