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RESOLUTION NO. 95-EDA21 <br />CITY OF MOUNDS VIEW <br />COUNTY OF RAMSEY <br />STATE OF MINNESOTA <br />RESOLUTION NO. 95-EDA21 APPROVING APPLICATION FOR THE STATE OF MI�INESOTA <br />ECONOMIC RECOVERY GRANT TO PROVIDE A LOAN TO DYNEX INDUSTRIES FOR <br />EXPANSIONOF LOCAL HEADG�UARTERS FACILITIY <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 />WHEREAS, Dynex Industries is a high quality, innovative environmental and engineering <br />consulting servicdes firm that manufactures fluorescent lamp recycling machines throughout <br />the U.S.; and <br />WHEREAS, the City of Mounds View is applying for an Economic Recovery Grant from the <br />Minnesata Department of Trade and Economic Development to make a low-interest loan to <br />Dynex Industries and establish a revolving loan fund; and <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 />NOW, THEREFORE, BE IT RESOLVED THAT the Economic Development Authority hereby <br />approves the application for an Economic Recovery Grant from the Minnesota Department of <br />Trade and Economic Development to provide a low interest loan to Dynex Industries. <br />ATTEST: <br />(SEAL) <br />Adopted by the Economic Development Authority in and <br />for the City of Mounds View this 13th day of February, 1995. <br />President <br />Executive Director <br />