- Associated Press - Friday, March 27, 2015

ANCHORAGE, Alaska (AP) - The Alaska Industrial Development and Export Authority has approved a loan for a new retail building in Wasilla.

The agency announced Thursday it will cover 90 percent of a $2.55 million load to Summit Fund, LLC., for an 11,400-square-foot building that will be leased to Petco.

Wells Fargo originated the loan and will loan the remaining 10 percent, $255,000.

The single-story building will be on the east Palmer-Wasilla Highway.

AIDEA (AY’-duh) is a public corporation of the state.

Its mission is to promote, develop and advance the general prosperity and economic welfare of Alaskans.

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