EDGERTON Economic Development Association (EDA)
Here's what we offer:
- Low-interest loans for new businesses
- Low-cost commercial and industrial lots
- Ask about our Residential Demolition Program (see program details below)
- Information about businesses, schools and the community
Contact Michael Vander Haar at:
Edgerton Economic Development Association
c/o City of Edgerton
801 1st Ave W
P.O. Box 145
Edgerton, Minnesota 56128
Phone: (507) 442-7891
Fax: (507) 442-3567
RESIDENTIAL DEMOLITION PROGRAM
The purpose of the Edgerton Economic Development Authority's Demolition Program is to provide financial assistance to owners, developers, and/or contractors to demolish substandard housing structures.
Demolition of substandard structures must be initiated within 6 months of application and completed within 30 days of start of demolition. New construction must begin within 1 year of application and must be completed within 1 year of the start date. The Edgerton EDA reserves the right to grant extensions of time under extenuating circumstances.
The Edgerton EDA agrees to provide financial assistance up to $5000 per property to the owner, developer, and/or contractor for approved projects. The Property must have a minimum of $50,000 per lot value of improvements and must increase the property value from its current value. Financial assistance will be advanced by the Edgerton EDA after completion of the demolition and new construction has begun.*
Requirements (the following must be submitted with the application):
- Copy of the property's most current estimated market value, including a breakdown of land value and structure value.
- Proof of ownership.
- Plan For the property once demolition is completed.
- Itemized estimate of demolition costs.
- Itemized estimate of disposal costs.
- Estimated value of lot once project is completed.
This program will be available for an undisclosed amount of time and will be reviewed periodically. The EDA reserves the right to discontinue the program at any time without warning.
* "New construction has begun" is defined as permanent foundation has been constructed.
If you would like to see/print the Residential Demolition Program application, click here: http://edgertonmn.com/upload/EDA%20program.doc