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EDA RESOLUTION 13-EDA-276 <br /> <br />MOUNDS VIEW ECONOMIC DEVELOPMENT AUTHORITY <br />COUNTY OF RAMSEY <br />STATE OF MINNESOTA <br /> <br /> <br />RESOLUTION AMENDING THE MOUNDS VIEW <br />BUSINESS IMPROVEMENT PARTNERSHIP LOAN PROGRAM <br /> <br /> <br />WHEREAS, the Mounds View Economic Development Authority (EDA) h as <br />Economic Development Authority powers provided in Minnesota Statutes, Sections <br />469.090 to 469.108; and, <br /> <br /> WHEREAS, on June 5, 1995 per Resolution 95-EDA-27, the Mounds View EDA <br />approved a business loan program for Mounds View businesses to provide low interest <br />loans for interior and exterior improvements; and, <br /> <br />WHEREAS, loans are “participation loans” offering $25,000 from the EDA and <br />$25,000 provided by the participating bank; and, <br /> <br /> WHEREAS, the total loan fund budget for 2013 is $50,000. <br /> <br />NOW, THEREFORE BE IT RESOLVED THAT the Mounds View Economic <br />Development Authority does hereby authorize the following amendments to the Business <br />Improvement Partnership Loan Program: <br /> <br />1) Remove the requirement that businesses must be located in Mound s View for two <br />years prior to applying for the loan <br /> <br />2) Because the participating bank will require financial statements and bids to <br />underwrite the loan, remove the requirement that applicants must also provide the <br />information to the EDA <br /> <br />Adopted this 13th day of May, 2013 by the <br />Mounds View Economic Development Authority <br /> <br /> <br />________________________________ <br />Joe Flaherty, President <br /> <br />(ATTEST) <br />________________________________ <br />James Ericson, Executive Director