FAIRMONT– The Fairmont Economic Development Authority (FEDA) on Monday discussed a partial mortgage release for Fairmont Brewing Company (FBC). Economic Development Coordinator, Ned Koppen, said that approving the request will allow FBC to potentially sell a building on 5th Street that the brewery owns.

“They want to cash that out. They don’t have any use for it. They’re asking if we would partially forgive that mortgage or release them from that property on 5th Street so that they can sell it. Their hopes and dreams is to turn around with that cash realization and potentially purchase the building right next to them,” Koppen said.

He added that it’s not much of a risk on FEDA’s part and that he thinks it’s a reasonable request.

It was asked what building the brewery owners are thinking of purchasing and Koppen said it’s the building right next to them, where a pet grooming business was.

“From the conversations I’ve had, if they can obtain that space and then create another entrance from their current building into that area, it will give them a party room, entertainment/dining room area and expand what they have for seating,” Koppen said.

“That’d be great,” said member Jeff Rouse.

A motion to accept the partial mortgage release for FBC passed with member Chris Pierce abstained.

The board also heard a request from Fairmont Area Chamber of Commerce President, Kandi Menne, to monetarily support the Fairmont Area Career Exploration (ACE), which will be on May 6 this year.

“This would be the 18th year of this educational experience. It’s hosted at Fairmont High School and it’s typically a half day where up to 12 area schools, about half from Martin County, come for the experience,” Menne said.

She explained more about how the day works and that it’s split into two portions where students hear from a panel of local people who attended a local school and then chose to stay here or return to the area to live and work. The second portion of the day is a career fair where around 80 career booths, including colleges and businesses, are set up in the school’s gym.

Menne also shared that at least 550 students have traditionally attended the event. She invited the FEDA board members to attend some or all of the event if they’re able to.

The board approved a sponsorship for ACE in the amount of $1,500.

In other business, Koppen said that four Revolving Loan Funds, for D&R Repair, Gemini Music, Cutting Edge Fitness and The Ranch Restaurant, were recently paid off.

“I think that’s great that we’re able to help four businesses. Now we can turn around and lend to somebody else,” Koppen said.