The Elk River Economic Development Authority (EDA) has approved a $74,999 energy efficiency microloan for Ralphie’s Victory Lane.
Brian Brehmer of Ralphie’s Victory Lane plans to renovate a gas station at the corner of Highway 10 and Joplin Street in Elk River. The loan money will be used to install high efficiency lighting and signs and improve the parking lot.
The EDA voted 6-0 June 17 to approve the 10-year loan, which will carry a 3 percent interest rate.
The city’s energy efficiency improvement microloan program is available to owners of commercial or industrial buildings in Elk River.