Detroit Lakes lands big federal grant
Thanks to a federal grant, the City of Detroit Lakes is getting half of its North Industrial Park expansion paid for.
The Federal Economic Development Administration awarded a $1.12 million matching grant for the 60-acre expansion, which will come south of the existing park. It will be east of the Gerald Cleveland farm.
"Yahoo! We're very happy. It's really a wonderful, wonderful thing," Community Development Director Larry Remmen said.
Remmen applied for the grant to secure half of the funding for a $2.2 million expansion project. The matching city funds will come from a $250,000 state grant and loans and bonds that the sale of the lots and assessments will pay back.
Beginning in 2010, the project will include sewer, water and streets to serve 18 industrial sites. Most of the lots are two to three acres in size with a few ranging from five to seven acres.
The city has two remaining lots for sale in the industrial park.
The city created the North Industrial Park in 1998, with Team Industries as the first business in the park.
Remmen said the only other land the city could purchase in that area to expand the industrial park would be the Cleveland property, "which we would be interested in doing."
Although the city hasn't had businesses waiting in line to purchase lots, that doesn't mean it's not time to prepare ahead of time.
"If you wait until that happens, it's too late," he said.
While the grant was written under the city's name, the city has given the Detroit Lakes Development Authority responsibility to sell the lots.
"This will make more lots available for new and expanding businesses, and it'll just help us continue the economic growth and job creation that we're always trying to make happen," Remmen said.