Mahnomen City Council Chooses to Bond Fire Hall Project
Mahnomen, MN — The Mahnomen City Council held their first regular monthly meeting on Monday night, March 1st where they finalized a funding mechanism for their Fire Hall renovation. The council had originally planned to fund the project through the New Market Tax Credit program. However, because interest rates are so low currently for General Obligation Bonds, Mahnomen City Administrator Mitch Berg says they have since decided to bond the nearly $2 million project and potentially pay it off in cash after a couple years.
Now that their financing option has been secured for the fire hall renovation, Administrator Berg says they plan to get together and work with the architect to move forward with what needs to be done to begin construction.
Part of the Mahnomen Fire Hall renovation includes expanding into the building currently occupied by Lindfors Insurance. At this week’s meeting, they officially approved a purchase agreement for the building.
The City of Mahnomen is purchasing the Lindfors Insurance building at a price of $150,000.