Article by: Rebecca Charles
The Spring Grove Economic Development Authority (EDA) is excited to announce that they have been awarded $3,500.00 in funding from Compeer Financial Rural Feasibility Study program for the purpose of commissioning a ‘Housing Subdivision Feasibility Study’ which will be used to determine best practices and opportunities for motivating developers to forge ahead with a new housing subdivision. CEDA representatives, Courtney Bergey Swanson and Rebecca Charles, authored the grant which was then submitted on behalf of the EDA. “Without the financial support of Compeer Financial, this study would not be completed”, says Charles. “It is the partnerships we pursue and maintain that make it possible for projects like this to materialize”.
Compeer Financial is a member-owned, Farm Credit cooperative serving and supporting agriculture and rural communities. Compeer provides loans, leases, risk management and other financial services throughout 144 counties in Illinois, Minnesota and Wisconsin. Their mission goes far beyond farm loans or insurance offerings. Compeer Financial is passionate about championing the hopes and dreams of rural America; and are always evolving to meet communities’ emerging needs and fully serve rural America.
The pending feasibility study was determined to be essential to encourage residential development for Spring Grove. The study is to be undertaken by city engineers, WHKS, an engineering firm in Rochester, MN. The Spring Grove EDA has commissioned the report in response the housing shortage currently plaguing SE Minnesota. The study is expected to begin within the next 30 days and will take approximately 3 months to complete.