Red Wing's attempt to help shoe company gets tied up

Last year, Red Wing officials made a skillful share to Red Wing Shoe Co.'s exertions to expatiate its

downtown store, but now thither are problems with the complex financial deal.

According to the cherry fender Republican Eagle, the deal regards $300,000 from the Red Wing Port    Nike Air Max Shoes

Authority and Housing Redevelopment federal agency. The money was to be repaid from the supplemental

property taxes generated by the expansion.

Now they discover, whilst, that the expanded store's assessment isn't high enough to generate those

additional property tax dollars. And urban centre functionaries just realized the deal was written to

repay merely the $300,000 principal to the loan pecuniary resource, not the $113,000 interest that would    Shoe Carnival

accrue over cardinal years.

City Council members must now select how to deal with the post.