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LaGrange County Extends Loan to the Michiana Event Center

 

The LaGrange County Council and LaGrange County Commissioners, in conjunction with the LaGrange County Economic Development Corporation and the Michiana Event Center (MEC), are excited to announce the closing of a loan from the newly created LaGrange County Revolving Loan Fund to the Michiana Event Center.

A loan of up to $1.3 million dollars was approved at a joint meeting of the LaGrange County Commissioners and LaGrange County Council on August 9th, 2012 for the MEC. The funds will be used to purchase the building they are operating in and are currently leasing, as well as to purchase the surrounding ~64 acres for future growth and expansion of the facility. The loan is interest bearing, and is structured to be paid back within 5-years.

"We are pleased that the LaGrange County Commissioners and Council voted to support the MEC," said Dennis Fry, Facilities and Operations Manager for the MEC. “This public-private partnership will go a long way to helping the MEC grow as a premier multi-use event facility. Our economic impact on the community will only continue to grow as we invest into upgrades in the facility.”

The MEC plans to continue with improvements to the facility, including upgrades to the parking area, the interior of the building, and eventually a new façade as well.

"We are happy to help the MEC with this loan to help them secure the facility,” said Ryan Riegsecker, LaGrange County Council member and Chair of the Major Moves Loan Committee. “This will help to ensure the community has another great place to host trade shows, auctions, and other special events while bringing more visitor dollars into LaGrange County.”

“This investment from the LaGrange County Revolving Loan Fund is a great use of the funds,” said Keith Gillenwater, President & CEO of the LaGrange County Economic Development Corporation. “Tourism and the trade show/auction industry are large economic drivers in LaGrange County, and ensuring the continued operation of another facility that has shown success in the limited time they have been open is great for our community. The impact of this loan will turn over many times in the LaGrange County community and our region.”