Operating out of a temporary facility since 2012, Extreme Sandbox utilized a $30,000 gap loan, facilitated through the Open to Business Program, to assist in their expansion plans, including construction of a permanent building on Glendale Road.
The Open to Business Program is a free business consulting and loan program, facilitated through the City of Hastings. Extreme Sandbox allows individuals the opportunity to experience the thrill of operating heavy equipment in a safe and controlled environment.
“I cannot speak highly enough of both the City of Hastings and the Open to Business program. Without the guidance and support of both, we would not have been able to grow our business. We are excited that Extreme Sandbox has become a tourism draw, allowing visitors from all over the country to experience what Hastings has to offer.”
- Randy Stenger, owner of Extreme Sandbox
Linn Companies, owner of Holiday Gas Station on the corner of Highway 61 and 15th Street, sought to redevelop a property located directly across the street. The property, a small gas station that had been vacant for over ten years, has substantial demolition and site preparation costs. The Hastings Economic Development and Redevelopment Authority (HEDRA) established a Tax Increment Finance (TIF) District to assist with redevelopment.
TIF calculates the increment between the current and projected developed value of the property and, as a result, a portion of the increment is made available upfront to assist in property development. HEDRA issued a $245,000 TIF note to assist with the cleanup and site preparation costs. Issuance of the TIF note allowed Linn Companies to construct a NAPA auto parts store on the site. The new 8,500 square foot building replaced a community eyesore and increased the vitality of the commercial corridor.
Carlson Capital Management
Carlson Capital Management, a comprehensive wealth management firm with more than $900 million in assets, outgrew its existing office space north of Hastings. The Hastings Economic Development and Redevelopment Authority (HEDRA) assisted Carlson on their office needs by proposing the sale of an existing 0.4 acre redevelopment site in Downtown Hastings for one dollar.
Located at 118 East 4th Street, the site was valued at over $140,000. Carlson constructed a 3,800 square foot building valued at over $330,000. Opening in 2011, the showplace brick and stone building is an architectural gem, complementing adjacent historic structures and incorporating a grove of mature oak trees into the site.
Hastings Business and Industrial Park operator, Innovative Surfaces, needed to expand its custom countertop operations. The City of Hastings, along with Innovative Surfaces and Miller Electric worked together to create a solution hat ensured the continued operations of both businesses in Hastings.
Through the assistance of HEDRA's Land for a DOLLAR! program, Miller Electric was able to acquire 2.4 acres and complete construction of a new 20,000 square foot office warehouse facility. As a result, Innovative Surfaces acquired the former Miller Electric site and completed a successful expansion of its operations.
Fully serviced lots are available in the Hastings Business and Industrial Park for only one dollar per acre under the Land Subsidy Program. The market value of the land is held as a deferred loan against the property. Upon completion of certain job, wage, and construction improvement values, the loan is terminated with no further obligations. The program allows businesses greater ability to invest in buildings and jobs instead of raw land. Since 1997 the Land Credit program has fostered the construction or expansion of 19 businesses creating over 120 jobs and nearly $11.1 million in new commercial space.