The approval of a $100,000 loan earlier this week could pave the way for construction to begin on a 41-unit apartment complex in Crookston.
The Crookston Housing and Economic Development Authority Board approved lending the money to Northridge Assets, which seeks to build the apartments on the city's northeastern edge, according to a report in the Crookston Daily Times.
The loan, which would have a six-year term at 3.5 percent interest, still needs federal approval. If given the green light, the loan would be the latest addition to a financial package that includes a $250,000 loan from the city of Crookston.
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