Monticello Economic Development Authority Agenda Packet April 2026
EDA approves GMEF loan to Sperr Properties
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Description
The Monticello EDA approved a $65,000 GMEF loan and business subsidy agreement with Sperr Properties, LLC to finance interior improvements and equipment for a new restaurant at 154 West Broadway. The loan is supported by solid cash flow and secured with personal guarantees and a UCC filing.
Contract Details
Contract Amount
$65,000
Vendor
SPERR PROPERTIES LLC
Agency
Town of Monticello, MN
Contract Type
FINANCIAL_SERVICES
Document Date
April 8, 2026
Renewal Info
Single GMEF loan authorization; repayment schedule and maturity not detailed in the minutes and no renewal terms stated.
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