NorShor Consultant: Project in Need of $5 Million
Posted at: 04/24/2013 10:17 PM
| Updated at: 04/24/2013 10:44 PM
By: Alan Hoglund
Plans to redevelop downtown Duluth's historic Norshor Theatre are making progress.
In a Duluth Economic Development Authority meeting, project consultant Brian Gorecki updated members on project funding. He told Eyewitness New pre-development funding is in place. But he said the project still needs $4.95 million in bonding money from the state.
Gorecki said "we're going to need that $4.95 million to close the gap on the overall project. We feel confident and encouraged by the news we're getting from the legislature. It is a key and critical piece."
Gorecki says bonding bill proposals from the House and Governor Mark Dayton do include money for the project.
The Senate bonding proposal has yet to be released.
DEDA also approved an item on their agenda to be the co-signer on a grant to help fund the project. The Legacy Grant is for $150,000, according to Gorecki.