The Koochiching Economic Development Authority is expected to discuss the foreign trade zone when it meets at 10 a.m. Wednesday.
The meeting is scheduled to be held at the Koochiching County Courthouse boardroom. An agenda is considered tentative until the government body begins the meeting and makes additions or deletions to the proposed agenda.
In June, the board agreed to put developing the foreign trade zone site back on the front burner and reconsider bidding options. The FTZ is owned by the city and Koochiching County and managed by the KEDA.
The board is also scheduled to hear an update about developing a second cold box for the cold weather testing facility.
On Tuesday, KEDA Director Paul Nevanen told the county board that the KEDA has applied for a $200,000 grant from the Minnesota Department of Employment and Economic Development. The grant would require a local match, which would be covered by financial commitments of up to $350,000 by both the county and city of International Falls.
Nevanen said should the grant application be successful, the financial pledge from the county and city could be reduced to $250,000 each.
The estimated cost of the cold box is $605,000. The total cost of the project is estimated at $700,000.
Also on Wednesday’s agenda is consideration of a revised 2012 budget and a director’s report.
Near the beginning of each meeting, the KEDA Board offers a period when the public may address the board on any topic.
