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MOUNDS VIEW ECONOMIC DEVELOPMENT COMMISSION <br />RESOLUTION NO. 98-EDC-24 <br /> <br />CITY OF MOUNDS VIEW <br />COUNTY OF RAMSEY <br />STATE OF MINNESOTA <br /> <br /> <br />RESOLUTION MODIFYING THE BUSINESS IMPROVEMENT PARTNERSHIP LOAN <br />PROGRAM <br /> <br /> <br />WHEREAS, on February 13, 1995 the Economic Development Commission adopted a <br />Resolution supporting the pursuit of a business loan program ; and <br /> <br />WHEREAS, on May 25, 1995 the Economic Development Commission adopted a Resolution <br />approving funding for the business loan program for 1995 and 1996; and <br /> <br />WHEREAS, on June 25, 1995 the Economic Development Authority adopted a Resolution <br />approving the business loan program; and <br /> <br />WHEREAS, the stated purpose of the business loan program was to Α[help] Mounds View <br />businesses thrive and prosper while improving the aesthetics of the commercial, industrial and <br />retail sectors of the community;≅ and <br /> <br />WHEREAS, the types of improvements eligible for the loan program included: repairing <br />storefronts, windows, doors, etc.; upgrading interior design and configuration; painting, cleaning <br />or staining the interior or exterior of a building; upgrading or replacing an existing business sign; <br />new or upgraded landscaping; parking lot redesign or repair; stormwater discharge <br />improvements; and ADA compliance upgrades; and <br /> <br />WHEREAS, during 1995 and 1996 a total of three loans of $25,000.00 each were approved <br />pursuant to the business loan program, each of which resulted in significant improvements to the <br />visual aesthetics and/or operational efficiency of the businesses receiving the loans; and <br /> <br />WHEREAS , each of the three loan recipients has made all of the required loan payments in full <br />and on time; and <br /> <br />WHEREAS, the continued and or improved availability of low interest loan funds could prompt <br />some businesses in Mounds View to make improvements that might not otherwise be made, and <br />that said improvements could improve the appearance of Mounds View=s commercial district <br />and enhance its tax base; and <br /> <br />WHEREAS, the continuation and refinement of the business loan program would demonstrate to <br />Mounds View=s businesses and residents the City=s commitment to improving the local <br />business climate; <br /> <br /> <br /> <br />NOW THEREFORE, BE IT RESOLVED that the Economic Development Commission of the <br />City of Mounds View hereby recommends that the Economic Development Authority: <br /> <br />a. Approve the elimination of the current requirement that a business be located in <br /> Mounds View for at least two years before being eligible for the program.