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<br />. <br /> <br />. <br /> <br />. <br /> <br />EDA RESOLUTION NO. 95-EDA21 <br /> <br />RESOLUTION NO. 95-EDA21 APPROVING APPLICATION FOR THE STATE OF <br />MINNESOTA ECONOMIC RECOVERY GRANT TO PROVIDE A LOAN TO DYNEX <br />INDUSTRIES FOR EXPANSION OF LOCAL HEADQUARTERS FACILITY <br /> <br />WHEREAS, Dynex Industries, a local business in Mounds View since 1981, is reviewing <br />the expansion of their current headquarters facility located at 4751 Mustang Circle and needs <br />to secure gap financing to enable expansion in Mounds View; and <br /> <br />WHEREAS, Dynex Industries is a high quality, innovative environmental and <br />engineering services firm that manufactures fluorescent lamp recycling machines throughout <br />the U.S.; and <br /> <br />WHEREAS, Dynex Industries has been an excellent corporate citizen through <br />participation in Mounds View's Clean Up Days, Focus 2000 and Festival in the Park, and; <br /> <br />WHEREAS, The City of Mounds View is applying for an Economic Recovery Grant from <br />the Minne~Qta Department of Trade and Economic Development to make a low-interest loan to <br />Dynex Industries and establish a revolving loan fund; and <br /> <br />WHEREAS, such an endeavor would be in the best interest of the City to ensure the <br />retention of 45 and the addition of 25 high quality jobs. <br /> <br />NOW, THEREFORE, BE IT RESOLVED THAT the Economic Development Authority <br />hereby approves the application for an Economic Recovery Grant from the Minnesota <br />Department of Trade and Economic Development to provide a low interest loan to Dynex <br />Industries. <br /> <br />Adopted by the Economic Development Authority in and for the City of Mounds View this <br />I f February, 995. <br /> <br />ATTEST: <br /> <br /> <br />( Seal) <br />