Laserfiche WebLink
EDA RESOLUTION NO. 95-EDC3110 <br /> RESOLUTION NO. 95-EDC3 SUPPORTING THE APPLICATION FOR THE STATE <br /> OF MINNESOTA ECONOMIC RECOVERY GRANT TO PROVIDE A LOAN TO <br /> DYNEX INDUSTRIES <br /> WHEREAS, Dynex Industries, a local business in Mounds View since 1985, is <br /> considering the expansion of their current facility located at 4751 Mustang Circle and is in <br /> need of gap financing to enable expansion in Mounds View; and <br /> WHEREAS, Dynex Industries is an environmental and electrical engineering contracting <br /> company that also manufactures a fluorescent light bulb recycling machine with distribution <br /> and service nation wide; and <br /> WHEREAS, Dynex Industries will be consolidating offices in Blaine, Arden Hills and <br /> Fridley to Mounds View upon the completion of a successful expansion, and <br /> WHEREAS, the Economic Development Commission's mission includes the promotion of <br /> a positive economic climate which retains and expands existing businesses; and <br /> WHEREAS, The City of Mounds View will be applying for an Economic Recovery Grant <br /> from the Minnesota Department of Trade and Economic Development to make a low-interest <br /> loan to Dynex Industries and establish a revolving loan fund; and <br /> WHEREAS, such an endeavor would be in the best interest of the City to ensure the <br /> retention and addition of 70 high quality jobs. <br /> NOW, THEREFORE, BE IT RESOLVED THAT the Economic Development <br /> Commission hereby supports the City of Mounds View's application for an Economic <br /> Recovery Grant from the Minnesota Department of Trade and Economic Development to <br /> provide a low interest loan to Dynex Industries. <br /> Adopted by the Economic Development Commission of the City of Mounds View this <br /> 26th day of January, 1995. <br /> ATTEST: <br /> Chair <br /> (SEAL) <br /> Economic Development Coordinator • <br />