Duluth City Council approves DECC’s $1 million loan request
DULUTH, MN. (Northern News Now) - The Duluth City Council has approved a $1 million loan for the DECC.
The DECC turned to the city for financial assistance ahead of the start of their Fall entertainment. The City Council approved the $1 million loan request for the DECC Monday during a council meeting.
Executive Director Dan Hartman said the DECC currently has $890,000. The request, according to Hartman is from a cause of inflation as the DECC is focused on making their wages match the market.
The DECC pleaded to the council that it is an economic engine for the region and is one of the largest entities that brings entertainment tourism to Duluth including a new Arena Football team next summer. On average, DECC leaders say the facility brings in millions of dollars in revenue a year.
It says the line of credit will be used as a financial cushion and financials are required monthly by the council. Any money borrowed by the DECC would need to be paid back to the council by October 1, 2024.
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