Monticello EDA Regular Meeting Agenda Packet March 2026
Monticello EDA Approves Loan for Sperr Properties
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Description
On March 11, 2026, Monticello EDA authorized a $65,000 GMEF loan to Sperr Properties, LLC for renovations and equipment acquisition related to the re-opening of 154 West Broadway.
Contract Details
Contract Amount
$65,000
Vendor
SPERR PROPERTIES LLC
Agency
Town of Monticello, MN
Contract Type
FINANCIAL_SERVICES
Document Date
March 11, 2026
Contract Term
March 11, 2026 – March 1, 2036 (10 years)
Renewal Date
2036-03-01
Renewal Info
Loan matures March 1, 2036; secured by second mortgage, UCC, and personal guarantees. Subject to business subsidy compliance.
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