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On December 14, the Iron Range Resources & Rehabilitation Board gave approximately $3.5 million in loans, $4.1 million in community grants, $18 million in K-12 school collaboration funds, $1.4 million in higher education funds, and $7.2 million in mining fund rebates were approved to advance projects in northeastern Minnesota. The total combined project investment is approximately $157.7 million. The projects are expected to increase the regional tax base, create permanent and construction jobs, provide essential services, improve education and expand outdoor recreation and mining. The loans are anticipated to impact 19.5 jobs and create 32 construction jobs. The infrastructure projects are projected to impact 54 jobs and create 306 construction jobs.
The Cook County/Grand Marias EDA received $450,000 to construct infrastructure to develop two mixed-use buildings, including 14 workforce housing apartments and six commercial/retail spaces in Tofte. Joe Swanson proposed the Downtown Tofte project. Joe Swanson and Pipasu Soni two purchased The Bluefin Bay Family Resorts Lake Superior Resorts on June 30, 2020.
The Downtown Tofte project will have 14 apartments and six retail spaces between the Americinn and Sawbill Outfitters on the north side of Highway 61. The project is estimated to cost $5.4 million. The total square footage of the two buildings is 21,107 square feet.
Cook County/Grand Marias EDA received $500,000 to construct infrastructure to develop a mixed-use building with six workforce housing apartments with garage spaces and four commercial/retail spaces.
The Sawbill Village project, as proposed by Rob Dieter, will be located on the south side of Highway 61 opposite the Tofte Holiday gas station on 2.2 acre’s owned by Dieter.
The project will include six apartments, three retail spaces and one dining space and is estimated to cost $2.5 to $3 million.
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