Business picks up tab for annual EDA meeting
News | Published on June 7, 2021 at 4:25pm EDT | Author: Chad Koenen0
By Barbie Porter
The Vergas Economic Authority learned a donation of a downtown business will cover the food served at the group’s annual meeting, which drew more than 40 people.
Vergas City Clerk Julie Lammers informed the EDA that Billy’s Corner Bar and Grill picked up the tab for the food served at their establishment for the EDA’s annual meeting. In years past, the EDA has paid for and provided a chicken dinner to all guests that attend the meeting. With the most recent EDA expense paid, the annual meeting held this past spring cost the group only $55.
The EDA had a beginning balance for 2021 of $1,370. With the annual $7,000 allotment from the city council and the $55 expense subtracted, the balance sits at $8,315.
The EDA also has funds in a savings account with West Central Initiative (WCI) that totals $15,313. Lammers explained the WCI account was created through a donation of land. A parcel located in the Bennett addition was gifted to the EDA. The lot was sold and the EDA placed the money from the purchase in a savings account with WCI until a future project calls for the funds to be used.
The EDA also reviewed available lots for residential and commercial development in the city limits.
After looking at the city map, the group estimated there were 15 residential lots available. The EDA suggested contacting those selling the lots to see if there was anything the EDA can do to increase the chances of a sale and aid in development.
On the commercial side of the spectrum, there were no identified vacancies. The former supermarket building has been purchased. Plans are in the works for the prime real estate located on the corner of Main Street and Second Avenue. Details and are set to be made public in coming weeks.