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cschuldt@nujournal.com NEW ULM — The New Ulm Economic Development Authority (EDA) approved a $50,000 loan to M&K Forestry & Land Management Services, Monday during a special meeting. This loan would be used for M&K to purchase equipment needed for business operations. The EDA previously tabled a decision on the loan during their regular meeting on April 12. At that time the board had concerns about the number of employees being hired. The only jobs being created by the business were the two owners, Mike Vetter and Kris Mathiowetz. In addition, the board wanted the owners to present a busin...

cschuldt@nujournal.com NEW ULM–The New Ulm Economic Development Authority (EDA) tabled a decision on a $50,000 loan to M&K Forestry & Land Management Services Tuesday, citing a need for more information. M&K Forestry & Land Management is planning to start a new business and needs assistance with the down payment for a bank loan. The total loan package is $273,000 with loans from Bank Midwest and the EDA. City Manager Chris Dalton said the $50,000 would help close a loan for equipment purchase. The equipment is currently on hold until the loan is approved. M&K has two contracts pending on...

cschuldt@nujournal.com NEW ULM — The New Ulm Economic Development Authority (EDA) voted Tuesday to establish a new rehab loan programs for single-family homes. The loan program is called “The Get It Ready” program and provides loans with less-than-market rates to homeowners who have significant, necessary and expensive rehabilitation needs on their homes which may impact the home’s livability and attractiveness when selling. The program using EDA funds intends to stimulate needed investments in homes that need additional work to “get it ready” for the market. Other programs of thi...

cschuldt@nujournal.com Staff photo by Clay Schuld The Economic Development Authority approved a lease agreement with Ted Bergstrom of Bergstrom Concessions for a property at 326 N. Broadway. Bergstrom plans to use a portion of the property for a concession stand on weekends starting in late March. NEW ULM — Ted Bergstrom will once again open a concession stand at 326 N. Broadway starting late March if weather permits. The New Ulm Economic Development Authority approved a lease agreement with Bergstrom to rent the property to open his concession stand. Bergstrom rented the same location from...