Agenda Packets - 1995/03/06 - Laserfiche WebLink

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Dynex Industries: • In discussions with DTED, it has been determined that Dynex is eligible for only $100,000 of the maximum $500,000 in Economic Recovery Grant assistance. In addition, they must create 20 additional jobs over 2 years to be eligible for this amount. Dynex conservatively estimated that they would create 12 new jobs but will reestimate to try and meet this requirement. If Dynex is willing to meet the 20 job requirement, we will then proceed with Part II of the application. Moundsview Antiques: • I recei_v_ec_a_alLfrom_lllissa Canfield, partner in_Moundsview_Antiques, this week and unfortunately they have decided to close the store effective March 31, 1995. Apparently, they have not been very successful over the past 3 years and recently they were forced to increase rent to their dealers. This caused several of the dealers to pull out of the store. This is a loss for Mounds View but an opportunity for the Hotel Development. Since the building will be empty, this would be a prime time for Charlie Hall to purchase the property and not have to pay the cost of relocation assistance. I forwarded the information to Charlie to pursue. Small Business Loan Program: • I met with representatives from Western Bank who have participated in other City small business loan programs. They are willing to assist the City in drafting the legal documents for the program. They will be providing us with samples of participation agreements, loan applications and disbursement agreements that have been used in other Cities. Once we receive the agreements I will consult the City Attorney for review for Mounds View's program. Cathy • PARKS, RECREATION AND FORESTRY PARKS * Bids were received Wednesday, March 1 for the new 15' mower. The bids are being reviewed by staff. Recommendation and request for approval to purchase the equipment will be an item for the March 20 City Council meeting.