CHEDA: Shanty is latest B3 grant recipient
The Irishman’s Shanty in Crookston is the latest recipient of a Building Better Business (B3) grant from the Crookston Housing & Economic Development Authority.
The initiative was launched in early 2019 as a tool to provide small grants, with a required match by the business applicant, to Crookston businesses to make various enhancements or improvements in general to their business. There is no repayment required unless a grant recipient ceases operations within two years of receiving the funds; in that event, $2,500 must be repaid.
The B3 fund started with $50,000 and, with the Shanty grant, now has around $11,500 remaining, said CHEDA Executive Director Craig Hoiseth. Assuming more applications continue to trickle in as time passes, he told his board that the B3 budget will likely need to be replenished if the program is to continue.
Applicants who have graduated from high school in Crookston as well as the University of Minnesota Crookston are eligible to receive an additional $2,000, which, in that event, makes $5,000 the maximum grant available. Shanty owner Paul Gregg, an alum of both institutions, therefore is being awarded $5,000.
The total project is $11,812. In involves a new heat pump for heating and cooling, new carpeting in the dining room, a new sidewalk and new point-of-sale equipment.
Businesses are eligible to receive a maximum of two B3 grants, although the maximum amount awarded the second time around is $3,000. Hoiseth indicated that Gregg could return next year with an application for a second grant to put toward other improvements.