April 6, 2016

EDC fine-tunes, approves loans, grants

By Suzanne Werre

Housing and building assistance plans were major topics at this week’s Underwood Area Economic Development Corporation’s regular meeting.

They approved paying a down-payment assistance loan that was previously approved in 2012, but had not been asked for until now.

Since they had approved it four years ago, the EDC members agreed they should follow through with the loan of just more than $4000. The approval is contingent on the homeowners providing proof of a mortgage.

They also approved a newly requested housing down-payment assistance loan for a family buying a home in the Repnow-Mees Addition in south Underwood.

A Main Street Grant, which is set up for business owners to spruce up, update, and otherwise improve their storefronts, was approved for a downtown business in the amount of a little more than $3600, which will be used to improve the storefront.



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