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 in July, August, September and October.

NEW ULM — 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 in July, August, September and October.

This property is currently rented by the Broadway Haus for tenant parking and snow removal during winter months. Bergstrom does not plan to use the space then.

Other food vendors would be allowed to use the location, but Bergstrom requested no menu items be duplicated by other vendors. Assistant City Manager Audra Shaneman said any other vendors would also need to go through the same lease process.

The location for Bergstrom’s tent will be marked off in some way.

Shaneman said the city is not providing any seating for the area at this time because of the COVID-19 pandemic, but picnic tables were available at Schonlau Park and Kiesling Park.

Board member Les Schultz made a motion to approve the lease, with a second from Dan Braam.

Commercial Rehab Loan and Application Improvements

The board accepted revisions to the Commercial Rehab Loan Program. Due to the transitioning of the limited loan to a small business loan, staff chose to separate the two loans, creating two documents of guidelines and applications.

The goal was to update the documents to match program guidelines, include best practices and to provide consistency with the process of these loans.

Some changes to the commercial rehab loan include the applicant must secure a loan before starting rehab work; loans must have matching funds from a local lender; and loans over $50,000 require EDA approval.

The limited loan of $5,000 has been changed into a small business loan of $10,000.

The small business loan documents will come to the EDA in August.

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The EDA authorized an agreement with the Small Business Development Center (SBDC) for $30,000.

The agreement for additional targeted services through the EDA is to encourage local businesses to use and benefit from the SBDC services, which included business consultants.

In 2020, the EDA provided a location for the consultant in City Hall, provided a location and staffing for a Consultant Cafe and referred many to their services for COVID-related financial consulting among other topics.

The 2021 proposal includes in-person consultant time in City Hall, Consulting Cafes quarterly either in person or with Zoom, business training, access to the business succession tool BizLink North and an emphasis on improving the digital marketing efforts of the center to promote their services and the partnership.

The board unanimously approved the agreement.