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Mounds View EDA April 9, 2007 <br />Regular Meeting Page 2 <br /> <br /> <br />MOTION/SECOND: Mueller/Stigney. To Approve the March 12, 2007 Minutes as Amended. <br /> <br /> Ayes – 5 Nays – 0 Motion carried. <br /> <br />6. CONSENT AGENDA <br /> <br />None. <br /> <br />7. EDA BUSINESS <br /> <br /> A. Continued Discussion Relating to Business Resource Guide/Toolbox <br /> <br />Economic Development Coordinator Backman addressed the Council and continued discussions <br />on the Business Resource Guide. He then said that the name of the document has been changed <br />back to the Toolbox. <br /> <br />Economic Development Coordinator Backman noted that the EDC discussed this at its April 6, <br />2007 meeting and adopted two motions. One motion was for approval of the toolbox and the <br />second motion was for support of placing the business Toolbox on the website for review. <br /> <br />Commissioner Flaherty said that under Item E he would like to see all local business finance is at <br />the discretion of the Mounds View EDA and he would like that bolded so it stands out. <br /> <br />The Authority expressed concern with the financial assistance the City may provide. <br /> <br />Economic Development Coordinator Backman indicated that, as a rule of thumb, he does not <br />think that a City should finance a majority of a project but require that the business do the <br />majority and the City, if it offers any assistance, offer only a very small portion. <br /> <br />Commissioner Mueller asked whether the City would have the ability to properly determine <br />whether the business is credit worthy. <br /> <br />Economic Development Coordinator Backman indicated that he would require the same <br />information that the banks would require. <br /> <br />Vice President Stigney indicated that he disagrees with the EDC’s recommendation to post the <br />toolbox document to the web, and thinks the document is slanted toward businesses, and he <br />would like to see the wording reformatted and he he would like to see some of the things <br />discussed previously incorporated into the document.. <br /> <br />Economic Development Coordinator Backman indicated that he did remove contact information <br />and references and will review it again. He then said that it has been totally reordered and the