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EDA E A aVleeting#25 ... .. <br /> August 12, 1996 <br /> Page-2 .. <br /> • <br /> • <br /> • <br /> 1 Ms.Bennett noted that Mounds View Fide is now.fialiy approved by the City to construct a canopy and <br /> 2 they.are now in a position to request financial assistance from'the City to complete the remodeling and <br /> • 3.. expansion of theirgas station. The applicant is requesting the maximum loan of$50,000. The City's <br /> 4 participation would be$25,000 at 2%fixed interest for ten years and W estern'-Bank's participation would <br /> 5 be,11%fixed interest for ten,years. <br /> 6 <br /> 7 Ms:Bennett explained that thisproject meets the goals:of the program by enhancing the aesthetics of the <br /> 8: property and improving the commercial tax base. The estimated total project costs is.about$222,000. <br /> 9 She noted that the applicant,is using several different sources to fund the project. <br /> 10 <br /> 11 ; MOTTQNi8gC(5Nf):-Hankner/Quick to approve Resolution 1No 96*EDASO,Approving Business .... <br /> 12 Improvement Partnership Loan-for Mounds View Fina. <br /> 13 <br /> 14 - VOTE 5 ayes 0 nays Motion Carried <br /> 15° <br /> 16 RE1O4TS <br /> 1.7 <br /> 19 <br /> 2Q .,Report of President.Linke: .No report: <br /> 21 <br /> 22 '•Report of Vice President Bl; nohard: No report. <br /> 23 <br /> 24 Report of Secretary Trude No report. s<' <br /> 25' <br /> 2,6 . Report of-Commissioners: <br /> 27 <br />. . : 28 Commn)issioner Quick: Np report. <br /> F� 29 <br /> 30 Commissioner Hankner: No report. <br /> 31 <br /> 32 R$PQr't Qf tNf 9utf,'Q.Dijrgctpr: No report. <br /> 33 <br /> 34 Reniprt pf Iyae .ter: No report <br /> 35 <br /> 36 President.Linke adjourned.the meeting'at 9:33 p.m, <br />{ <br /> 38 Respectfully submitted, <br /> 40. <br /> -42 Tajo 0 $aetke <br /> 43 Rec din ecre <br /> or <br /> . . . <br /> g'S <br /> -44 =. <br /> 4a <br /> 46 <br />