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Minutes of the Economic Development Commission <br /> City of Mounds View <br /> • Ramsey County, Minnesota <br /> Regular Meeting <br /> December 17, 1994 NbWPRO\ ED <br /> City Hall <br /> 2401 Highway 10, Mounds View, MN 55112 <br /> 1. Call to Order: <br /> The meeting was called to order at 6:30 p.m. by Vice-Chairperson, Ron Schmidt. <br /> 2. Roll Call: <br /> Members present were as follows: Mark Malone, Peg Mountin, Dan Nelson, Ron Schmidt and Phil <br /> Seipp. In addition, EDA Liaison Gary Quick and Economic Development Coordinator Cathy Bennett <br /> were present. Members Rosemary Goff and Delane Welsch were not present. <br /> 3. Approval Of Minutes: <br /> Motion/Second: Nelson/Malone moved approval of Minutes of EDC Meeting, November 17, <br /> 1994. <br /> Motion Carried 4 ayes 0 nays <br /> 4. Special Business <br /> A. Presentation Regarding Proposed Expansion of Dynex Industries <br /> Brian Sjoberg, Secretary/Treasurer of Dynex Industries located on Mustang Drive in Mounds <br /> View gave an overview of their proposed expansion. Dynex is fully developed at 25,000 <br /> sq.ft currently and would like to expand by 50,000 sq.ft. Dynex would initially occupy <br /> 15,000 sq.ft. of their expanded space and lease the remaining with plans to expand into <br /> those areas in the future. The expansion would consolidate their other Twin Cities locations <br /> into one corporate headquarters facility in Mounds View with a total of 70 employees <br /> initially. Dynex has approached the City for financial assistance. Since Dynex is not located <br /> in a current TIF district, a typical development agreement would not be feasible. It was <br /> recommended by staff that the City apply for an Economic Recovery Grant to provide Dynex <br /> with a low interest loan. The grant amount would be for the maximum $500,000. <br /> Coordinator Bennett mentioned that the City applied for the same grant for Wolf& <br /> Associates. At that time there were no State funds available. Commissioner Malone <br /> suggested that staff contact Wolf&Associates to see if they were still interested in <br /> applying for the grant as well. Coordinator Bennett said that the City is not restricted to <br /> applying for only one company but that only one grant per fiscal year is eligible to be <br /> awarded to a City. Vice Chair Schmidt noted that Dynex has been an excellent corporate <br /> citizen and taking measures to support their expansion is very valuable to the community. <br /> Motion/Second: Nelson/Malone moved to direct staff to pursue and facilitate applications for <br /> 1111 Economic Recovery Grant for Dynex Industries and Wolf&Associates. <br /> 4 ayes 0 nays <br /> Motion Carried. <br /> 1 <br />