NEW ULM --The New Ulm Economic Development Authority (EDA) discussed an $800,000 loan request from Oak Hills for the Garden Terrace project Tuesday. The board authorized staff to prepare loan documents, with formal approval of the loan coming at a future meeting. The $800,000 loan will be used to cover the purchase of furniture, fixtures and equipment for the new Garden Terrace building, which Oak Hills does not currently have the funds to cover. Earlier this year, the New Ulm Economic Development Authority sold the two existing Garden Terrace buildings and an adjacent vacant lot to ...