Jenny Gruenwald addressed the Spring Valley Economic Development Authority during its monthly meeting Wednesday, Sept. 11, about the new endeavor she is delving into with her aunt, Denise Erichsen.

The pair recently purchased the former Victorian Inn located on 310 North Broadway with plans of turning it into a retreat house called Glad Gatherings.

"We are primarily targeting quilters and scrapbookers to rent mostly on the weekends," explained Gruenwald. The retreat, which will also be available for other community events, can accommodate 12 people comfortably.

They plan to make further updates on the house to restore it and to make it more energy efficient.

According to Gruenwald they are working to have the roof replaced this fall. With the winter fast approaching they may have to wait until spring to complete other exterior work such as landscaping and painting. The pair is planning to working on the interior issues during the colder months.

Optimistically, they are projecting the retreat center to be open this November.

Gruenwald and Erichsen asked the board to review the $40,000 general revolving fund loan they are hoping to put toward the project.

The pair has also applied for the Small Cities Block Grant (SCBG), but as that program works on first come first served basis for applicants that came in after the initial deadline their application may not be reviewed for some time.

Economic development director Cathy Enerson explained the positive impact the retreat could have on the city of Spring Valley.

The property will remain commercial and add to the lodging tax base. The work they will be doing to further restore the property will preserve the architectural and historical character at what is considered the entrance to downtown.

Enerson and Gruenwald are confident it will help draw more business to the city.

"From our past experience when people come in and do their crafting they go the grocery store, bakeries, out to eat and gas stations. So, we're hoping it will be a destination for people and bring business to other businesses in Spring Valley," Gruenwald told the EDA.

The board approved the loan of $40,000 at 3 percent interest with $10,000 pending the SCBG. The money will be dispersed as the work is completed.

In other business:

• The Spring Valley City Council has approved the EDA's 2014 budget.

• Enerson announced that Home Federal Savings Bank is giving its financial support in conjunction with the Small Cities Block Grant. The bank has committed $200,000 in low interest loans for qualified borrowers in the downtown area.

• The final Downtown Design meeting will be held Wednesday, Sept. 18, at 3 p.m. in the Spring Valley Public Library.

• The next EDA meeting will be held on Oct, 8 at 8:30 a.m