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• Page 4 EDA July 27, 1998 will generally be used for interior and exterior structural and cosmetic improvements that will stay in the City, the City will benefit from any such improvements even if other businesses eventually occupy the improved business sites. Requests from longstanding members of the local business community should be entitled to priority over a relative newcomer, all other things being equal. This is not a grant program but a loan program. The Program has a history of 100 percent repayment by all who have participated in the program. This is a prime example of how a city can "prime the pump"for improving both the tax base and also the appearance of the business community. Stigney stated he would not be in favor of changing the two-year requirement that is on the books currently. MOTION/SECOND: Stigney/Gunn to approve Resolution No. 98-EDA-96, Modifying the Business Improvement Partnership Loan Program, deleting Item A of the Resolve Clause. • VOTE: Ayes - 5 Nays - 0 Motion carried D. Consideration of Resolution No. 98-EDA-95,Appointing Economic Development Commission members to fill the two current vacancies. MOTION/SECOND: McCarty/Gunn to approve, as amended, Resolution No. 98-EDA-95 striking in the "Now Therefore Be It Resolved" that the Economic Development Authority of the City of Mounds View hereby appoints Sean Walther and Wendy Marty to the Economic Development Commission, with terms expiring December 31, 2000 and December 31, 1998 respectively. Striking the rest of the recommendation that Mr. Laube be held in limbo in case somebody decides not to serve. VOTE: Ayes - 5 Nays - 0 Motion carried 6. REPORTS No reports were considered from the Commissioners or staff. 7. ADJOURNMENT MOTION/SECOND: Koopmeiners/Stigney to adjourn the meeting. • VOTE: Ayes - 5 Nays - 0 Motion carried