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Item No 6A Meeting Date: February 10, 2020 Type of Business: EDA Administrator Review : ____ City of Mounds View Staff Report To: EDA President and Commissioners From: Brian Beeman, Assistant City Administrator Item Title/Subject: 20-EDA-335, A Resolution Approving an Amendment to the Loan Origination Agreement Introduction: The Metropolitan Council bills the City for treating wastewater based on capacity. The capacity in Mounds View has been extreme due to leakage from rain water into cracked and broken sewer lines. This additional water is being treated even though it is fresh water which increases the treatment costs. The City has implemented an ordinance that requires all sewer lines to be inspected and repaired before selling a home. As a way to help alleviate costs to homeowners to inspect and repair sewer lines the Center for Energy and Environment (CEE) is partnering with the EDA to administrate a 0% loan program up to $20,000 for residential properties and up to $50,000 for a commercial properties. The City has made a loan agreement with the MPCA to fund the loan program in the amount of $2,000,000. Discussion: In order for CEE to administer the new loan program an amendment is required to the original loan agreement. Staff has reviewed the amendment and exhibits and is recommending that the EDA review and discuss the amendment as necessary. Recommendation: Staff recommends that the EDA consider 20-EDA-335, A resolution approving an amendment to the loan origination agreement by motion. Respectfully submitted, ________________________ Brian Beeman Assistant City Administrator Attachments: 1) 20-EDA-335, A Resolution Approving an Amendment to the Loan Origination Agreement 2) Amendment 2 to the Loan Origination Agreement 3) Exhibit A2 Program Guidelines 4) Exhibit B2 Program Budget