HUMBOLDT MOTOR S

[Pages:1]Thursday, AUGUST 15, 2019 ? The Humboldt Independent ? 3A

[Shelter ] CONTINUED FROM FRONT PAGE

the run area would be lime- $1,815 per month or $22,000 loan such as the one re- to the projection. Duck rac-

stone rock to reduce odor. per year.

ceived by the Kiddie Cats es and cornfield feeds were

There will be camera se- Gronbach said he would Day Care, could possibly among the options explored.

curity for the shelter that be willing to enter into a be obtained but would also It was also discussed what

could be dedicated with lease/purchase agreement require the city and county kind of donors to seek out

the system viewed by the with HCAS for $235,000 guaranteeing the debt, as the and what amounts to ask for.

Humboldt County dispatch. at 5 percent interest for 15 HCAS has no collateral. A As a point of information,

Board member Jess Tepner years, or until the structure USDA loan would reported- Goedken reported receiving

of Bode said a six-motion is paid for. Monthly pay- ly be at 4.25 percent interest. a call from Sheryl Tegtmey-

camera Lorex? Smart sys- ments would be $1,858 per Goedken explained that er with the Humboldt Coun-

tem would only run $600- month.

a request to the Humboldt ty Humane Society. She

$700.

Goedken told the group County Development As- reported that Almost Home

Board member Larry that the most economical al- sociation would go before in Fort Dodge would agree

Plagmann asked about stor- ternative may be to look at a their finance loan committee to house animals brought in

age and room for expansion? Humboldt County Develop- for a review. There would by Humboldt County. She

Lee said there would be ment Association (HCDA) also be a guarantee of pay- reported that Webster City is

an additional 200 feet west revolving loan fund agree- ment requirement on the sending animals there.

of the structure on the 5,625 ment for $235,000 at an in- part of the city and county. Humboldt County Sher-

square foot lot for possible terest rate of 2 percent per "In the agreement with iff Dean Kruger reported

future construction.

year.

the HCAS, we can stipulate that the county paid Almost

Cordray said shelves The cost would be $1,189 that city or county funds Home $3,200 per year and

could be constructed along per month. However, there only go to the retirement of then $40 per dog beyond 40

Pictured from left: Humboldt County Development Executive Director Alissa O'Connor, Rec Center manager Paxton Petersen explaining Ga Ga Ball, Sen. Tim Kraayenbrink, Gov. Kim Reynolds, Lt. Gov. Adam Gregg, a governor staff member and Humboldt Mayor Dan Scholl. Padding for the pit is made by Hadar Manufacturing in Humboldt. Reynolds was favorably impressed by how much of the items for the new center are made right here in Iowa. Humboldt Independent photo by Kent Thompson.

walls in front of the cat and laundry rooms.

"If there are donations of large pallets of dog food we can store it in the former fire station area of City Hall," Board member Travis Goedken said.

FINANCING OPTIONS Goedken presented several

would be a balloon payment at the end of 10 years, at which time $129,201 would still be owed.

"We would need to have a second applicant take over the loan for the additional 10 years at the same rate and payment schedule of $1,189 per month.

"There are several ben-

loan debt," Goedken told the HCAS Board.

After a few more comments and questions, Board member Rick Pedersen moved to "approach HCDA and see if they are willing to partner with us." The 11 Board members in attendance unanimously agreed to pursue that route.

dogs in a year. "They won't take animals,

especially cats, when they are full, and they are often times are full," Erickson said.

It was reported that both the city/Humboldt County and HCAS are protected by the agreement the county board signed last week and

financing options for the efits in utilizing the HCDA

that the Humboldt City

[Governor ] CONTINUED FROM 2A

non-profit to discuss.

revolving loan fund. One, RAISING FUNDS

Council is considering sign-

In virtually all scenarios, it has more flexibility than The Board discussed pos- ing. Only local animals will

the city and county would be some other payment meth- sible fundraising events and be housed at the Humboldt

the Nielsen family/city of Humboldt shared success story.

The Recreation Center

Subscribe Today! employs three full-time and

12-17 part-time employees. "The way the Rec Cen-

ter opened out of the chute, we were blown out of the water by the community's acceptance and participation as to what membership levels were, so we are quite

Call 515.332.2514 confident that our economic

projections will be exceeded

512 Sumner Avenue ?Humboldt by the year one actual re-

facility exceeding our conservative financial numbers, we were able to set $100,000 aside for future structural repairs and maintenance, to keep the facility nice, clean and well maintained," the administrator said.

So, bragging to the governor? Yes, there was a little of that in a modest way.

The greater community can be proud this private/ public partnership is keeping citizens fit as a fiddle.

the signor of the loan agreement and would be responsible for the payment, unless the HCAS could secure a large donor or enough private fundraising to pay off the debt.

Goedken said the rural economic development arms of Midland Power Cooperative or Corn Belt Power Cooperative could provide 80 percent of building project funds, $188,000 at 3 percent interest for 10 years.

Payments would be

ods. Two, as a fledging start-up organization, the HCAS has no credit history. The third advantage is that it would keep monthly loan payments below $1,200 a month. Hopefully at the end of 20 years there would be funds to help put toward the debt. The disadvantage is that after 10 years, you would need an entity to accept that $129,000 balloon payment to pay off the loan," Goedken said.

A USDA rural facilities

strategies to

attract

donors

Community Animal Shelter.

ceipts," Humboldt City Ad-

ministrator Travis Goedken

said. "Because of the use of the

HUMBOLDT

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