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MOUNDS VIEW ECONOMIC DEVELOPMENT COMMISSION <br />RESOLUTION NO. 98-EDC-24 <br />CITY OF MOUNDS VIEW <br />COUNTY OF RAMSEY <br />STATE OF MINNESOTA <br />RESOLUTION RECOMMENDING THE REACTIVATION OF THE BUSINESS IMPROVEMENT <br />PARTNERSHIP LOAN PROGRAM <br />WHEREAS, on February 13, 1995 the Economic Development Commission adopted a <br />Resolution supporting the pursuit of a business loan program ; and <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 />WHEREAS, on June 25, 1995 the Economic Development Authority adopted a Resolution <br />approving the business loan program; and <br />WHEREAS, the stated purpose of the business loan program was to "[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 />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 />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 <br />the visual aesthetics and/or operational efficiency of the businesses receiving the loans; and <br />WHEREAS, each of the three loan recipients has made all of the required loan payments in full <br />and on time; and <br />WHEREAS, no business loans have been sought or granted since August of 1996, nor has the <br />business loan program been actively marketed or publicized since that time, despite the fact <br />that funds have been annually budgeted for the program; and <br />WHEREAS, the availability of low interest loan funds could prompt some businesses in Mounds <br />View to make improvements that might not otherwise be made, and that said improvements <br />could improve the appearance of Mounds View's commercial district and enhance its tax base; <br />and <br />WHEREAS, the reactivation of the business loan program would demonstrate to Mounds <br />View's businesses and residents the City's commitment to improving the local business climate;