Featured:

Mercury Mosaics and Tile

Wadena, MN (2020)

The NMTC loan proceeds will be utilized to complete tenant improvements at an existing 19,200 sq. ft. warehouse building in Wadena, MN, purchase equipment, and provide working capital.

COMMUNITY IMPACT
  • 20 FTE jobs
  • 5 construction jobs
FINANCING SOURCES
  • NMTC amount: $655,738
  • Total Project Costs: $765,000
  • CDE:
PROJECT LOCATION

1430 Homecrest Avenue

Wadena, MN 56482

Project Description

The NMTC loan proceeds will be utilized to complete tenant improvements at an existing 19,200 SF warehouse building in Wadena, MN, purchase equipment, and provide working capital. The Sponsor’s existing location in NE Minneapolis is land locked and doesn’t offer any possibilities for expansion. After a two year process involving site visits to four MN communities, a WI community and an Iowa community the company identified Wadena, MN as its preferred choice for expansion. Wadena, MN is small rural community about 3 hours from Minneapolis.