Two housing loans were approved during the NED, Inc. meeting.
The first loan of $25,000 is for housing rehabilitation of a 1,232-square-foot home in Norfolk. Funding will be provided by NED, Inc’s housing reuse funds and is a 1 percent interest loan up to 20 years.
“The applicant’s house is structurally sound, in good condition and, after repairs, will meet or exceed all the required Minimum Rehabilitation Standards,” said NENEDD Housing Specialist Martin Griffith. “The loan recipient is very excited and grateful to have the opportunity to make needed improvements and updates to her home.”
The second was a direct homebuyer assistance loan for $21,000 for a house located in Newman Grove. Funding will be provided by the NED, Inc. Direct Homebuyer Assistance Grant. It is a 0% deferred interest loan due upon transfer of title.
“It was an absolute pleasure partnering with our newest homebuyer utilizing our direct homebuyer assistance program. Many congratulations,” said NENEDD Housing Loan Specialist Mandy Gear. “Here’s to new beginnings and sweet memories in your new place!!”
The NED, Inc. Board also approved two business loans during the meeting.
The first was accepting $50,000 Community Development Block Grant (CDBG) Revolving Loan Fund (RLF) funds from Knox County for a loan to Mara Breithaupt, d/b/a Commercial Hotel in Verdigre. Breithaupt is planning the purchase of the Commercial Hotel at 217 S. Main St. in Verdigre. It’s an old two-story building with seven rooms to rent, a kitchen, and a dining room. It’s also the only hotel in Verdigre. Due to recreation opportunities in and around Verdigre and Knox County, lodging is needed throughout the year.
The second loan, for $102,000, was to Stankoski Dozer and Excavating, LLC, near Monroe. Derek and Keely Stankoski, members of Stankoski Dozer and Excavating, LLC (SDE) are planning the purchase of an excavator and semi-tractor to enhance their dozing and excavating business. SDE was established by the Stankoskis in August 2020. It is operated out of their home in Monroe. SDE provides excavating services to Platte, Nance, Boone, Madison, Colfax, Butler, Polk, and Merrick counties.
“NED, Inc. is excited to see this relatively new business continue to expand with the purchase of additional equipment,” said NENEDD Business Loan Specialist Jeff Christensen about Stankoski Dozer and Excavating, adding this about Commercial Hotel, “It’s great to see Knox County continue to support and assist local businesses with new ownership of the Commercial Hotel in Verdigre.”
The NED, Inc. Board, as well as the NENEDD Board, reappointed Aaron Gutz, Elizabeth McManigal, and Troy Weyhrich to another three-year term on the Northeast Revolving Loan Fund (RLF) Committee.
Also during the NENEDD meeting, a $92,000 loan was approved for ASQ Promotional Products, Inc. in Norfolk. Three employees of ASQ Promotional Products, Inc. (Advertising Solutions of Quality) are planning the purchase of the business. ASQ has been in business in Norfolk since 2002. It is a promotional product company providing embroidered and screen-printed clothing, and other promotional products with a company or organization’s logo.
“NENEDD is supportive of the change of local ownership of ASQ Promotional Products, Inc., which will benefit clients and all involved with this business operation,” Christensen said.
The NED, Inc. Board of Directors meeting and NENEDD’s Annual Council of Officials meeting are set for Wednesday, June 29, 2022. The NED, Inc. meeting will start at 7 p.m. and NENEDD at 7:15 p.m., or following the NED, Inc. meeting. The agendas will be posted on the website on Monday, June 27, 2022, after 5 p.m. The meetings will be held at the City of Norfolk Offices — Training Room, 309 N. 5th St., Norfolk, NE 68701.