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The
Loring Business Association (LBA) is a non-profit corporation of
businesses devoted to enhancing the economic vitality of the Loring area
by promoting and supporting area businesses. Further, LBA strives to
create opportunities for more local business owners to play an active role
in the community, create a forum where business owners can address local
community and business issues, and develop an avenue where local
businesses can obtain information on public and/or non-profit programs and
services that can assist in local business development.
Founded
in 1994, the Association has developed into a well-respected organization
within the Loring community. Membership has grown to some 50 supporting
members, including professional service businesses, retail shops,
restaurants, residential and commercial property owners, lodging
facilities, educational institutions, religious institutions, and cultural
and civic institutions.
What
the LBA Does
The
LBA is involved in many activities that affect Loring area businesses,
including:
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Organizing
informative monthly general membership meeting luncheons, where
invited speakers present and discuss pertinent issues and
developments. Recent meeting topics have included Target Tower
development proposal, University of St. Thomas expansion plans,
Minneapolis Community and Technical College expansion plans, Metro
State relocation plans, new residential tower development proposal,
major roadway reconstruction projects, and crime and safety workshops.
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Producing
periodic newsletters, which keep the business community up-to-date in
a variety of areas.
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Administrating
a low-interest commercial loan program for area businesses. The
commercial loan program has approximately $100,000 remaining to loan
out to Loring area businesses. Recent loans have been closed to assist
a local advertising agency, a new day spa and salon, a neighborhood
coffee shop, and a local art gallery.
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Participating
in a variety of land-use, development, and area improvement issues,
including zoning workshops and information, reviewing development
proposals, and working with city officials to ensure better
connections between the Convention Center and the rest of the Loring
area as the expansion project proceeds.
As
well, the LBA is asked to review and comment on many other types matters
throughout the year.
Marketing
Programs
The LBA’s
marketing efforts are focused on producing and distributing some 10,000
Loring-Downtown area directories each year and maintain this website. The
members-only directory is distributed to most area residents, restaurants,
retail shops, area-business employees, area hotels and area institutions.
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