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REMINDER THE WORK SESSION IS ON TUESDAY, 7:00 PM AND THE <br /> BUDGET WORK SESSION IS ON WEDNESDAY, 6:00 P.M. <br /> Mayor's Schedule <br /> Mayor Linke will not be in attendance at the Tuesday Work Session due to a prior <br /> commitment in Mankato. He has requested that the Council consider tabling several <br /> of the Work Session Agenda items to the following night's Budget Work Session. The <br /> items requested for tabling have been noted as such in the Agenda. <br /> Senior Housing Project <br /> Good news from Bob Thistle, Springsted! Preliminary analysis of the profit margins for <br /> the senior center project appear to be well within acceptable margins for this type of <br /> development. Bob will be forwarding a letter to me next week, but he feels confident <br /> that the project would meet the "but for" test for the amount of increment granted. <br /> Samantha <br /> Economic Development <br /> Economic Development Commission: <br /> I have received 10 applications for EDC participation. Eight of the applications are <br /> from residents and two from businesses. I am still working on more business <br /> participation and will have a good mix for the EDA to review at the work session. I <br /> am anxious to establish the members and would like to have the first EDC meeting <br /> sometime in July. <br /> Retention: <br /> Grant Application: I spoke to the Department of Trade & Economic <br /> Development(DTED) regarding the status the application for an economic recovery <br /> grant. Unfortunately, the funds have already been allocated to existing applications <br /> and all new applications will be put into a tickler file to be reviewed upon available <br /> dollars. Funds would become available if current applications that are being review <br /> are not approved. This news is disheartening since Mounds View's application <br /> was submitted even before the funds were appropriated. We had thought we were <br /> ahead of the game. As you will recall, this grant would assist Wolf & Associates <br /> with their expansion and start a revolving loan fund for the City. Since our <br /> situation is time sensitive, waiting for the grant funds to maybe become available is <br /> not an option. I spoke to John Purves with Wolf & Associates and they will be <br /> reviewing their options. I will keep you posted on the progress. <br /> Cathy <br />