By Sara StrongLuverne Economic Development Authority voted to delay the $40,000 payment due from Corn-er Stone for one more year. Corn-er Stone is in the process of developing a new business that will process soybeans in Luverne. The loan will be repaid a year from now.David Kolsrud represented Corn-er Stone Co-op at the meeting Tuesday. Blue Mound Soy is a branch of Corn-er Stone co-op and intends to build a cold-process soybean plant in Luverne. It would extract oil and soy meal from soybeans.He said, "The work we’ve done here has made a difference." Luverne’s reputation as a leader in renewable energy is strong, Kolsrud said. Groups from across the country, and from foreign countries, regularly tour the ethanol plant and ask about wind energy. The "farmer owned" concept is intriguing to many outsiders, Kolsrud said, and makes the local renewable energy efforts stand out.The soybean processing that’s planned for Luverne is unique because of its method. Currently, chemicals and heat are used to extract oil and make flour from the beans, but a newly-patented cold process can achieve the same results at room temperature.LEDA member Bob Latham said, "Let’s keep moving forward so you can get it built."In other business Tuesday, the LEDA:oGot an update on the status of Netbriefings. The webcasting and consulting firm had a better financial report this month than it had recently. Its loan payments to the LEDA start in November, and its interest rates increase with no local employees.The LEDA loaned the company $250,000 in November 2001. Statema said he’s particularly interested in the amount of webcasting the company does, because that work could be done from Luverne, where most consulting jobs would probably be based out of the Twin Cities.oDiscussed the application sent to the state to designate Luverne as an "E-commerce Certification" community. The label will be an extra selling point for the community, comparable to the few of Minnesota towns called "Star Cities."
