City loans $30K for new cattle barn
To help get construction underway on the new cattle barn at the fairgrounds, the East Otter Tail County Fair Board will be borrowing $30,000 from the city of Perham.
City councilors unanimously agreed to loan the money at their regular meeting last week.
The loan is for three years, at a 3 percent interest rate, with payments due twice per year.
Councilors and representatives of the fair board had earlier reached a consensus on the terms of the loan.
“We’re interested in a loan from the city, specifically because some of our pledges will not be coming in until fall,” said Pete Zavadil, fair board president.
Fair board members approached the city earlier this spring to inquire about possible funding and/or donations for the cattle barns.
In addition to the loan, the city also donated $30,000 to the project, out of proceeds from the sale of land along 3rd Ave. That land was sold to Lakes Area Cooperative. Closing on the property occurred Wednesday, May 29.
In an email to the Focus on Tuesday, City Manager Kelcey Klemm said the old cattle barns at the fairgrounds have already been torn down. The dairy barn is still standing, and might remain in place.
The goal of the fair board is to have the new barn up and operational in time for this summer’s fair. The new barn will be located next to the 4-H building, in front of the children’s barn. It will hold more than 150 head of cattle, and will be focused on educating consumers about the agricultural industry.