SBA 504 UPDATE – February Update

St. Croix Area Event   
Thursday, February 14, 2019
7:30 am – 8:00 am Networking & Breakfast
8:00 am – 9:00 am Program
Hampton Inn & Suites Hudson
2610 Pearson Drive, Hudson, WI, 54016

Regional Business Fund: Learn more about RBF, a regional business revolving loan fund operating in the Wisconsin counties of Barron, Chippewa, Clark, Dunn, Eau Claire, Polk, and St. Croix. RBF offers low-interest gap loan funds to businesses providing an economic benefit which could include a business expansion; diversification of the economy; addition of new technology; creation or retention of quality jobs; and/or private capital investment in the region. Tobi LeMahieu, Fund Manager, will provide an update on the RBF.

Update on St.Croix Meadows Redevelopment: Demolition took place on the old St. Croix Meadows dog track building to make way for a new development off Carmichael Road. This activity started last March and a $500,000 Idle Sites grant was awarded to the City of Hudson to offset a portion of the demolition and site grading costs. It late October development agreements were in place for two separate sites, including a 284,000+/- advanced manufacturing facility for Hudson-based Phillips Medisize. Developers of the 130-acre St. Croix Meadows site envision corporate space, hospitality, and a stadium for a 2020 entry into the Northwoods League. City of Hudson Mayor, Rich O’Connor will provide an update on the project.

Ramsey County Economic Development Update
Hear from Ramsey County Community and Economic Development Director Kari Collins. She will discuss County Economic Development initiatives for 2019.

Riverfront Properties Update
Hear from Ramsey County Redevelopment Manager, Josh Olson on recent updates on the Riverfront Properties project. The project is a nearly five-acre site located along the bluff overlooking the Mississippi River in downtown Saint Paul. In June 2015, Ramsey County began deconstruction of the former Adult Detention Center and West buildings located on the iconic site to prepare it for sale and private development.

A Request for Development Interest was issued on Nov. 9, 2017. On Nov. 20, 2018, the County Board directed staff to begin negotiations on an exclusive six-month agreement with AECOM to perform due diligence on a proposal to develop the Riverfront Properties site.

Hennepin County Event
Thursday, March 14, 2019
7:45 am – 8:00 am Networking & Breakfast
8:00 am – 9:00 am Program
City of Eden Prairie
8080 Mitchell Road, Eden Prairie, MN, 55344

Hennepin County Community and Economic Development (Elise Durbin): Hennepin County understands that vital economies start with small businesses. Learn more about the county’s programs designed to support businesses, promote economic development, create and retain jobs and cultivate entrepreneurs—including Open to Business, Economic Gardening, Business Recycling, and others. Additionally, hear about the county’s Southwest LRT Community Works project, which works with cities along the corridor to plan “beyond the rails”.

Southwest LRT/METRO Green Line Extension (James Mockovciak): Learn about the Southwest LRT/METRO Green Line Extension project, which broke ground in November. The presentation will include a high level overview that include the project timeline, economic development along the corridor, funding, the scope of civil construction and project milestone.

City of Eden Prairie (Janet Jeremiah): In anticipation of Southwest LRT, Eden Prairie recently adopted a Transit Oriented Development (TOD) ordinance to stimulate and guide future redevelopment around its four planned transit stations. A brief overview the TOD ordinance and a focus on a related redevelopment project called Elevate at Southwest Station will be provided.

Our loan officers listed below can be reached at 651.481.8081 or toll-free at 1.888.481.4504.

About Us
TCM has been a leader in SBA 504 financing since its inception in 1990. TCM provides SBA 504 lending throughout the state of Minnesota and select counties in Wisconsin including Polk, Barron, St. Croix, Dunn, Pierce, Pepin, Buffalo, Treapealeau, and LaCrosse. For more information about TCM and the SBA 504 financing tool, visit www.504lending.com.