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Item No. <br /> Meeting Date: 7-27-98 <br /> Staff Report No. <br /> Type of Business:EDAB <br /> WK: Work Session;PH:Public Hearing; <br /> CA:Consent Agenda;EDAB:EDA Business <br /> Mounds View Economic Development Authority <br /> Staff Re ort <br /> To: Mounds View Economic Development Authority <br /> From: Rick Jopke, Community Development Director <br /> Item Title/Subject: Business Improvement Partnership Loan Program <br /> Date of Report: July 21, 1998 <br /> SUMMARY <br /> On May 22, 1998,Economic Development Coordinator Kevin Carroll provided the EDC members with a <br /> Memorandum recommending the"reactivation"of the Business Improvement Partnership Loan <br /> Program that had been started in 1995. Please refer to his Memorandum(attached)for more information <br /> about the history of the Program and the rationale for reactivating and/or improving it. <br /> This matter was on the EDC agenda for May 28, 1998, but discussion of the topic had to be deferred to <br /> the following meeting due to time constraints. At the next EDC meeting on June 25, 1998, the EDC <br /> ipdiscussed the topic and unanimously adopted a revised version of the Resolution that had been originally <br /> proposed. Most of the changes were semantic in nature; for example, the EDC preferred to characterize <br /> this recent initiative as a modification of the Program rather than a reactivation of it. The primary <br /> substantive change is the proposed 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. More information regarding the <br /> refinement of the EDC's Resolution can be gleaned from the minutes (attached)of the EDC's June 25th <br /> meeting. <br /> As stated in Mr. Carroll's Memorandum,the Business Improvement Partnership Loan Program has <br /> the potential to become of the most tangible manifestations of the City's commitment to improving the <br /> local business climate, and staff therefore recommends the action specified below. <br /> ACTION TO BE CONSIDERED <br /> Approve EDA Resolution No. 98-EDA-96 modifying the Business Improvement Partnership Loan <br /> Program in certain respects. <br /> Rick Jopke(71v-4021) <br /> Community Development Director <br /> Attachments: Memorandum to EDC dated May 22, 1998 <br /> Minutes of EDC Meeting of June 25, 1998 <br /> Resolution No. 98-EDC-24 <br /> Proposed Resolution No. 98-EDA-96 <br /> NADATA\GROUPSTCONDEV\EDA-EDCEDA\07-27-98.WP2 <br />