(KNOX) –
The city of Crookston was awarded $1,487,000 in Redevelopment Grant funds for asbestos abatement, demolition and public infrastructure on the Red River Valley Winter Shows.
Formerly an arena for livestock and agricultural shows, the nine-acre site will be redeveloped into a 7,000-square-foot credit union. It is anticipated this project will create eight jobs, retain 12 jobs, increase the tax base by $50,553 and leverage $7 million of private investment.
Matching funds will be provided by tax increment financing. The grant comes from the Minnesota Department of Employment and Economic Development.
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