A new daycare in downtown Mankato is receiving funds from the City to meet childcare needs and create new jobs.
A request by Candice Deal-Bartell for a 125-thousand dollar loan from the Economic Development Authority has been approved for Cultivate Mankato, LLC at the corner of Main Street and Broad Street.
City Manager Pat Hentges says the daycare has the potential of 160-slots for children.
“It’s a well-needed crisis, you know as people are aware, for example, people may be paying upwards to for two children $1,600 a month for daycare, if they’re a working couple. It’s a crisis in greater Minnesota and even in the Twin Cities.”
The City Center Renaissance loan request is payable over 8 years at 5-percent interest to make improvements at the Ridgely Building at 227 East Main Street. Upgrades include framing, ceiling, new flooring as well as fencing and rubber mulch on the exterior of the building.
Hentges adds that addressing daycare needs has been one of the city’s main goals.
“This is another project, we’ve facilitated some additional beds. I know there’s some discussion going on about a change in the Hilltop (Mankato). We may contribute and support that on a new Hilltop location. Part of the crisis and part of the issue is getting workers and having enough ratio of supervisions. It’s one of the most regulated industries by State Human Services and so that is helping.”
The business plans to employ 35 people, providing care for children six weeks old to preschool age.
Officials plan to open Cultivate Mankato daycare in the spring of 2019.