Laserfiche WebLink
EDA Meeting #25 <br />August 12, 1996 <br />Page 2 <br />1 <br />2 <br />4 <br />5 <br />6 <br />7 <br />8 <br />9 <br />10 <br />11 <br />12 <br />13 <br />14 <br />15 <br />16 <br />17 <br />18 <br />19 <br />20 <br />21 <br />22 <br />23 <br />24 <br />25 <br />26 <br />27 <br />28 <br />29 <br />30 <br />31 <br />32 <br />33 <br />34 <br />35 <br />36 <br />37 <br />38 <br />39 <br />40 <br />41 <br />42 <br />43 <br />44 <br />45 <br />46 <br />� �� '�t�. � <br />� ��� � � <br />Ms. Bennett noted that Mounds View Fina is now fully approved by the City to construct a canopy and <br />they are now in a position to request iinancial assistance from the City to complete the remodeling and <br />expansion of their gas station. The applicant is requesting the maximum loan of $50,000. The City's <br />participation would be $25,000 at 2% fxed interest for ten years and Western Banlc's participation would <br />be I 1% fixed interest for ten years. <br />Ms. Bennett explained that this project meets the goals of the program by enhancing the aesthetics of the <br />property and improving the commercial tax base. The estimated total project costs is about $222,000. <br />She noted that the applicant is using several different sou►•ces to fund the project. <br />MOTION/SECOND: Hanlrner/Quidc to approve Resolution No. 96-EDA50, Approving Business <br />Improvement Partnership Loan for Mounds View Fina. <br />VOTE: <br />REPORTS: <br />5 ayes 0 nays Motion Carried <br />Report of GDA Board Members: <br />Report of President Linlce: No report. <br />Report of Vice President Blanchard: No report. <br />Report of Secretary Trude: No report. <br />Report of Commissioners: <br />Commissioner Quicic: No report. <br />Commissioner Hankner: No report. <br />Report of Executive Director: No report. <br />Report of Treasurer: No report. <br />President Linlce adjourned the meeting at 9:33 p.m. <br />Respectfully sub�nitted, <br />Tamara D. Saeflce <br />Recording Secretary <br />