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132055130v2 <br /> <br /> <br />[Letterhead of Borrower] <br /> <br /> <br />April 24, 2024 <br /> <br />City of Little Canada <br />515 Little Canada Road E. <br />Little Canada, MN 55117 <br /> <br />RE: City of Little Canada, Minnesota Capital Campaign Financing Note, Series 2024 <br />(Saint Paul Academy and Summit School Project) <br /> <br />Dear Councilmembers: <br /> <br />Saint Paul Academy and Summit School is a Minnesota nonprofit corporation (the "Obligor") and <br />will be obligated to repay the above-referenced obligations (the "Obligations"). The Obligor will <br />be using the project financed by the Obligations for the operation of an educational facility. We <br />have been informed that Minnesota Statutes, Section 469.154, subdivision 7 (the "Act") <br />encourages beneficiaries of financing mechanisms such as the Obligations to target employment <br />opportunities to qualified individuals who are unemployed or economically disadvantaged as <br />defined in the federal Job Training Partnership Act of 1982, Statutes at Large, volume 96, page <br />1322. <br />The Obligor plans to implement one or more of the following specific steps to meet the <br />requirements of the Act: <br />– Updating and drafting new recruitment manual and hiring guidelines; <br /> <br />– Creating a pool of candidates from events/job fairs to develop relationships for future <br />hiring opportunities; <br />– Presenting at a Carney Sandoe Diversity Job Fair about moving to the Midwest; and <br />– Updating the career page on the school website to highlight diversity. <br />The Obligor understands that indication of the Obligor's plan for targeting employment <br />opportunities to qualified individuals who are unemployed or economically disadvantaged as <br />described above is a condition to approval by the Department of Employment and Economic <br />Development ("DEED") of financing the proposed project. We have been informed that the <br />approval of DEED is required by Minnesota Statutes, Section 469.154, subdivision 3. <br />It also is the plan of the Obligor to provide any reports to DEED as may be required by the Act or <br />other laws of the State of Minnesota. <br />SAINT PAUL ACADEMY AND SUMMIT <br />SCHOOL <br /> <br />By: <br /> Its: