Earlier this week I traveled to Minnewaukan, N.D., to attend the opening ceremony for the new Minnewaukan Public School.
The school’s opening was a proud moment for the Minnewaukan community, and it was highly anticipated. For years the town has struggled to shield itself against flooding from the adjacent Devils Lake, which threatened to overtake the old school. In addition to the flooding, the old school building did not have adequate or up-to-date facilities for the 287 students who attend.
I attended the ceremony to represent our Travois New Markets team. In December, Travois New Markets closed a $13.2 million New Markets Tax Credit (NMTC) transaction that provided gap financing for the construction of the new building. (Read more information here.)
T
he ceremony was held in the new gymnasium, and we heard from those involved in the project. Superintendent and Mayor Myron Jury spoke about the long process of making what seemed to be an unlikely goal a reality. The school was able to use multiple funding sources in the project, including Impact Aid bonds and state grants. NMTCs provided the last piece of funding that enabled them to bring the project to completion.
North Dakota Governor Jack Dalrymple and Congressman Kevin Cramer addressed the audience. They stirred up the students’ enthusiasm and showed pride for their North Dakota roots. Kent Anderson of the architecture firm Hepper-Olson, Jeff Seidel of Northland Securities, and I spoke as well and were very proud to have been involved with the project.
It was a great experience seeing the finished building that everyone worked so hard for and all of the smiling faces who will spend time in the building for many years to come.