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10/18/2016

THE FAIRMONT ECONOMIC DEVELOPMENT AUTHORITY AT MONDAY'S MEETING APPROVED A MICROLOAN REQUEST FROM BOWLMOR LANES FOR BUILDING AND SIDEWALK IMPROVEMENTS. THE TOTAL PROJECT COST ESTIMATE IS $13,162.93. F E D A LOAN GUIDELINES ALLOW A LOAN OF 5O% OF THAT TOTAL, AMOUNTING TO 6,581 DOLLARS AT AN INTEREST RATE OF 3% FOR SEVEN YEARS.

PERSONAL GUARANTEES WILL BE REQUIRED AND THE COLLATERAL WILL BE A SECOND POSITION ON THE BUILDING. THE FUNDS WILL GO TOWARD STEEL SIDING AND INSULATION ON THE EAST AND WEST SIDES OF THE BUILDING AND SIDEWALK REPLACEMENT ON THE SOUTH SIDE OF THE BUILDING.

THE FAIRMONT E D A INVITED OTHER COMMUNITY LEADERS AND GOVERNMENT OFFICIALS IN FOR A PRESENTATION FROM BUXTON, A RETAIL BUSINESS RECRUITER. CODY GUNSTENSON, DIRECTOR OF SALES FOR THE COMPANY, MADE HIS PITCH TO THOSE IN ATTENDANCE. HE POINTED OUT THAT BUXTON HAS WORKED WITH 750 MUNICIPALITIES IN THE LAST 12 YEARS ON RECRUITING RETAIL BUSINESSES SPECIFICALLY SUITED FOR EACH COMMUNITY AND INCREASING AND DIVERSIFYING WHILE STRENGTHENING THEIR RETAIL BASE. HE SAYS THEY ALSO WORK TO RETAIN PRESENT BUSINESSES IN THE COMMUNITIES THEY SERVE AND WILL NOT RECRUIT BUSINESS THAT WOULD THREATEN THOSE EXISTING BUSINESSES, BUT WOULD LOOK TO FILL A NEED FOR PRODUCTS OR SERVICES PEOPLE NOW LEAVE TOWN TO PURCHASE ELSEWHERE.

GUNSTENSON SAYS BUXTON SEEKS A MULTIYEAR AGREEMENT OF THREE YEARS TO WORK WITH COMMUNITIES AT A COST OF 50,000 DOLLARS PER YEAR, WITH AN OPT OUT CLAUSE AT THE END OF EVERY YEAR IN THE AGREEMENT. LINSEY PREUSS, FAIRMONT'S ECONOMIC DEVELOPMENT COORDINATOR, SAYS F E D A WOULD CONSIDER THE PROPOSAL AT THEIR NEXT MEETING IN NOVEMBER.


ROD HALVORSEN
© 2015 KSUM KFMC


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