Wahpeton Council Approves Grant for WCCO Expansion, Article in Wahpeton Daily News
Posted 3/21/18 (Wed)
Sales tax for development money will be used to buy down interest on loan
Excerpt from article by Frank Stanko
With an 8-0 vote Monday, March 19, the Wahpeton City Council approved allocating up to $128,571.53 as an interest buy down grant for an expansion project by WCCO Belting, Inc.
The money comes from Wahpeton’s sales tax for economic development fund. WCCO’s project is expected to cost $3 million, with the first $1 million funded by the Bank of North Dakota’s Flex PACE program. The next $2 million is financed by new market tax credits.
“It is estimated that 10-15 new jobs will be created with the expansion,” Councilman-at-Large Lane Wateland said.
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