By Sara StrongThe Luverne Economic Development Authority has a few more business ventures in the works.It voted Tuesday to guarantee the first $25,000 of the refinancing of Minnesota Special Liquids, which produces the animal feed, Alcomp.It also is considering helping Plaza 75 owner Rich Dreckman get the new office project underway on South Highway 75.Also, the former Exsito plant has a more permanent tenant.Alcomp, Minnesota Special LiquidsMSL is on solid financial ground, but wants to refinance to provide operating money for expansion and additional working capital."We’re growing fast, and it’s hard to tell what we’ll need," owner Ben Steensma told the LEDA Tuesday.The company employs 14 people including local people, truckers and remote salespeople.Luverne Economic Development Director Dan Statema said, "It’s important to remember that MSL is key to maintaining the viability of the rail."Alcomp is an alcohol-based liquid animal feed supplement.The company has no outstanding bank loans and is cash flow positive, with good accounts payable.Statema said in a memo to the LEDA, "Return on this small LEDA investment could be extraordinary."The product has been patented for various animals: chickens, turkeys, beef cattle, dairy cattle, hogs, sheep and goats. Alcomp has gained popularity because it contains no animal byproducts. It is a high energy and high protein product that rivals the quality of animal fat in the results it gets.Plaza 75Dreckman is owner of Align-Tech & Tire and is entering the development business.He purchased the former True Value property and is converting it into an 8,000-square-foot office complex that he says will hold about six tenants, depending on size need.Dreckman came to the LEDA Tuesday asking for a tax abatement and reduced utility rate. The LEDA couldn’t act on those requests because only the City Council has that authority. And, a total property tax abatement would involve school and county approval as well as the city’s.Dreckman has a commitment from three tenants, with more showing interest. But banks are asking for more tenants or lower operating costs before they’ll sign off on a loan."It’s difficult to find renters with a building that’s not there yet," Dreckman said.He said he’s putting $320,000 into the project.The LEDA may consider becoming a tenant to help Dreckman secure financing. Plaza 75 will probably be on a later agenda, with a different proposal. Former Exsito buildingThe 612 West Hatting property, the former home of the tomato processing plant, Exsito, will have a new tenant for at least a year.Falcon Pallets will lease the facility for $1,000 a month for a year, maybe more. It proposed the price to the LEDA with an option to buy the building and three acres for $150,000.The LEDA said the land and building is worth more than that, but will take the offer for leasing it for now."It’s not maximizing the use of the facility, but from a cash-flow perspective [it will work]," Statema said.The city put $300,000 into the building to make it a food-grade building for the processing business. The latest estimated value of the site is $200,000, not including the surrounding acreage.