TJD Repair and Service, LLC, received the Blue Earth EDA’s October Business Spotlight Award. Owners Trey Dyslin, middle, and Jared Resutek, right, accepted the award from CEDA specialist Amy Schaefer, left.

The Blue Earth Economic Development Authority (EDA) board met bright and early on Thursday, Oct. 20, to whisk through its October agenda.

The EDA board attended to several matters of old business, including the final approval of a contract for professional services with Community and Economic Development Associates (CEDA).

The contract will secure CEDA specialist Amy Schaefer’s services for the city of Blue Earth in 2023. She is contracted to work approximately four days a week.

Apart from a five percent increase in annual reimbursements to CEDA, the contract presents no other changes from 2022’s CEDA contract.

Schaefer also informed the EDA she has added a clause to the board’s Commercial Business Improvement Forgivable Loan application which clarifies businesses may not apply for the loan retroactively.

“This year the program has been used a lot, but there has been some miscommunication with people trying to use it retroactively,” Schaefer explained. “We have no way of knowing if our funding will still be available retroactively.” 

Speaking to the loan program’s popularity, the EDA awarded a Commercial Business Improvement Forgivable Loan on Oct. 20 to Mike Lahti, owner of Lost Saint Brewing Company.

Lahti plans to add a deck to the back of the brewery site, along with an accessible, ADA-compliant ramp leading up to the seating area. He also wants to construct stairs to the building entrance and add signage to the site.

The EDA approved Lahti’s request for a $5,000 loan to help cover the project’s $10,170 total estimated cost.

The EDA also approved a loan application from Shawna Hannaman, who is planning to purchase Blue Earth’s Classic Cuts with her husband.

The couple plans to make several improvements to the business, including adding new chairs, a dispensary sink, a washer, a half-wall, a tanning bed, signage and new products.

The improvements will cost an estimated $75,000, $50,000 of which the couple will fund themselves.

The EDA granted the couple a $25,000 five-year loan to help fund the improvements, at a 6.5 percent interest rate.

“(Hannaman’s) daughter will be her successor,” Schaefer added. “They are set up very successfully for continuity.” 

In an effort to encourage more local businesses to consider succession planning, the EDA moved to financially sponsor local businesses who take part in a succession planning course offered by University of Minnesota Extension in partnership with VisionOne High Performance Group.

The course consists of five online classes offered on Thursdays from Oct. 6 to Nov. 10. The EDA will front $250 of the course’s total $500 cost for local businesses who wish to participate.

“It’s a good course. It walks (businesses) through, start to finish, with developing a succession plan,” Schaefer said, adding, “it’s our small businesses that really need this.” 

In other business, the Blue Earth EDA: 

• Gave October’s Business Spotlight Award to TJD Repair and Service, LLC.

Owners Trey Dyslin and Jared Resutek attended the meeting to accept the award, and informed the EDA that they have been very busy providing oil changes and servicing semi trucks and ag equipment. TJD Repair and Service also began selling tires recently.

“We never thought we’d sell tires,” Dyslin admitted.

• Went into closed session to discuss a real estate transaction. The EDA made no decisions following the closed session.