Cottage Grove EDA Meeting 10-13-26

The Cottage Grove Economic Development Authority meeting on October 13, 2026, covered development updates and three funding or agreement items. The EDA approved a four-year professional services agreement with DART for its transportation loop serving older adults and residents with limited mobility. The service costs about $35,000 annually, with DART reporting a current $10,000 funding gap; the city’s EDA has provided approximately $147,500 since 2020. The agreement formalizes the partnership, requires quarterly reporting and insurance, and includes termination provisions and an escalating fee structure. The EDA also approved a resolution supporting Trade Home Shoes’ application to the state Department of Employment and Economic Development’s Job Creation Fund. The company reports 47 existing Cottage Grove jobs and projects 13 new jobs over three years; any incentive would be paid directly by the state to the business.

The EDA approved the city’s Local Affordable Housing Aid policy by a 3–1 vote, establishing guidance for state aid estimated at up to $400,000 annually. The policy focuses on affordable rental projects, with loans, forgivable loans, or grants targeting households at 30–60% of area median income and affordability retained for 25 years. Members discussed whether to include homeownership projects, but left the policy unchanged pending further review; City Council consideration was scheduled for the following week. Staff cited a prior $916,000 forgivable loan for the Hadley apartment project using 2024–2026 funding. Other updates noted ongoing library, commercial, and apartment construction; no additional procurement approvals were identified.