KGP Telecommunications, currently located on Highway 60 West, is considering relocating its headquarters but expressed a preference to remain in Faribault if sufficient financial assistance is secured. The council’s resolution supports KGP’s application for a forgivable loan from the state, which would facilitate their future projects. Although a representative from KGP was not present at the meeting, a written statement from Matthew Drevo, the General Counsel and Vice President, was shared with the council members.

Further deliberations included the council’s unanimous approval of a resolution to address slum and blight conditions in the central business district. This initiative is part of the Small Cities Development Program. The council is waiting for formal approval from the Department of Employment and Economic Development (DEED) to proceed.

Another agenda item was the redevelopment grant application for the property on First Street North. The council passed resolutions to designate the property as blighted and substandard, allowing future eligibility for a Redevelopment Tax Increment Financing (TIF) District. The developer, Think Biz LLC, committed to a 50% local match for the grant.