Elysian Economic Development Authority Minutes April 2, 2026
EDA Approves Loan for The Pit Stop 60 Reopening
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Description
The Elysian Economic Development Authority approved a $35,000 revolving fund loan to Michael and Shylah Cassidy to finance remodeling and start-up costs for reopening The Pit Stop 60. The five-year loan at 3% interest is contingent on successful property closing and recording of a mortgage on 205 State Highway 60 East.
Contract Details
Contract Amount
$35,000
Vendor
CASSIDY, MICHAEL & SHYLAH
Agency
City of Elysian, MN
Contract Type
FINANCIAL_SERVICES
Document Date
April 2, 2026
Contract Term
5 years at 3.0% interest; monthly payment $628.90
Renewal Info
Five-year term loan; no renewal terms stated in the minutes.
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