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� E�, � �' � �� � .� ; <br />� � �� � � <br />EDA <br />Meeting No. 12 <br />Page 2 <br />February 13, 1995 <br />PUBLIC HEARINGS: <br />There were no public hearings scheduled for this meeting. <br />EDA BUSINESS: <br />A. Consideration of Resolution No. 95-EDA21 Supportinq <br />Application for the State of Minnesota Economic Recovery Gran� <br />to Provide a Loan to Dynex Industries for Expansion of Local <br />Headquarte�s Facilitv <br />Cathy Benne�tt, Economic Development Coordinator, repor�ed that <br />Dynex Industries has been a local business since 1981. They <br />approached the City a few months ago with regards to expansion <br />of their current headquarters facility located at Mustang <br />Circle. Dynex Industries is an environmental and electrical <br />service company and recently began manufacturing a unique <br />machine that recycles fluorescent lamps. <br />A typical development agreement would not be feasible because <br />Dynex is not located in a current Tax Increment District. The <br />Economic Development Commission is in support of taking <br />necessary measures to assist in the retention of Dynex and has <br />passed Resolution No. 95-EDC3 in support of an application for <br />an Economic Recovery Grant from the Minnesota Department of <br />Trade and Economic Development. These grant funds are very <br />limited so it's imperative that a broad spectrum of support is <br />received. <br />MOTION/SECOND: Hankner/Blanchard to Approve Resolution No. <br />95-EDA21 Supporting Application for the State of Minnesota <br />Economic Recovery Grant to Provide a Loan to Dynex Industries <br />for Expansion of Local Headquarters Facility <br />Secretary Trude explained that this company employs <br />approximately 45 people in Mounds View and they hope to grow <br />by, perhaps, 25 jobs with this expansion. <br />Commissioner Hankner noted that the business of recycling <br />fluorescent lamps will grow in the near future because the <br />legislature has prohibited the disposal of fluorescenL- lamps <br />in landfillse <br />VOTE: 5 ayes 0 nays Motion Carried <br />B. Consideration of Acceptance of Economic Development Commission <br />1995 Calendar, Bylaws, and Work Plan <br />Cathy Bennett, Economic Development Coordinator, reported that <br />at the first regular meeting of the Economic Development <br />