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Mounds View EDA November 22, 2010 <br />Regular Meeting Page 5 <br /> <br />recommendation stated above. 172 <br /> 173 <br /> Ayes – 5 Nays – 0 Motion carried. 174 <br /> 175 <br />D. Resolution 10-EDA-264, Approving Criteria for the Mounds View 176 <br />Emergency Home Loan 177 <br /> 178 <br />Economic Development Specialist Steinmetz reviewed the Emergency Home Loan criteria with 179 <br />the EDA. She indicated this loan varied because it was a 0% deferred loan. Emergency loans 180 <br />would be limited by income. Only one bid was required through this loan due to the time 181 <br />sensitive nature of the requests. Additional language revisions were discussed and staff 182 <br />recommended approval. 183 <br /> 184 <br />MOTION/SECOND: Mueller/Gunn. To Waive the Reading and Adopt Resolution 10-EDA-185 <br />264, Approving Criteria for the Mounds View Emergency Home Loan, inserting the word “year” 186 <br />between current and median. 187 <br /> 188 <br />Vice President Stigney was in favor of the asset limits set within this loan program. 189 <br /> 190 <br />Commissioner Mueller thanked staff for including manufactured housing in this program. 191 <br /> 192 <br /> Ayes – 5 Nays – 0 Motion carried. 193 <br /> 194 <br />8. REPORTS 195 <br /> 196 <br />A. Discuss Replacement of the Remaining Welcome to the City of Mounds View 197 <br />Signs 198 <br /> 199 <br />Executive Director Ericson stated the City had additional dollars available from Bethlehem 200 <br />Baptist Church. The EDA could choose to allocate these funds to replace the remaining exterior 201 <br />Welcome to Mounds View signs. The quote from Traffix Graphix was $2,400 to replace the 12 202 <br />signs. 203 <br /> 204 <br />Commissioner Mueller indicated the expense was quite reasonable, being only $200 per sign. 205 <br />Mr. Roberts explained the graphics would be consistent with the newly placed signs along 206 <br />County Highway 10. 207 <br /> 208 <br />MOTION/SECOND: Gunn/Hull. To use the remaining funds from Bethlehem Baptist to 209 <br />purchase 12 Welcome to Mounds View signs through Traffix Graphix for an expense not to 210 <br />exceed $2,400. 211 <br /> 212 <br />Vice President Stigney indicated he would not support the motion as he did not have enough 213