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Item No: 6A <br />Meeting Date: September 27, 2021 <br />Type of Business: EDA <br />Administrator review: _______ <br />City of Mounds View Staff Report <br />To: EDA President and Commissioners <br />From: Brian Beeman, Assistant City Administrator <br />Item Title/Subject: 21-EDA-347, Approving an Amendment to the Loan Origination Agreement with <br />the Center for Energy and Environment <br />Background <br />At the August 23, 2021 EDA meeting the EDA approved resolution 21-EDA-345, Establishing the <br />New Business Improvement Forgivable Loan Program. The resolution provided staff & legal consultants <br />the authorization to develop and complete the necessary forms for the program including but not limited <br />to the application, total budget form, promissory note, etc. Additionally, the EDA agreed to have the <br />Center for Energy and Environment (CEE) to administer the loan program. However, the agreement <br />between the Mounds View EDA and CEE needs to be amended before CEE can start accepting <br />applications for the new program. Therefore, resolution 21-EDA-347, Approving an Amendment to the <br />Loan Origination Agreement with the Center for Energy and Environment has been prepared for <br />consideration. <br />Discussion <br />The EDA to review and discuss the prepared resolution and loan origination agreement amendment <br />between the Mounds View EDA and CEE. <br />Strategic Plan Strategy/Goal <br />Consider adding a new incentive for start-up businesses Identify and distribute any new business subsidy <br />programs, maintain a positive business climate where businesses want to locate and remain in mounds view. <br />Finance top redevelopment areas Industrial/Commercial/Residential. <br />Financial Impact <br />Funded through the EDA levy. <br />Recommendation <br />Consider resolution 21-EDA-347, Approving an Amendment to the Loan Origination Agreement with <br />the Center for Energy and Environment by motion. <br />Respectfully submitted, <br />________________________ <br />Brian Beeman <br />Assistant City Administrator <br />Attachment(s): <br />1)EDA Resolution 21-EDA-347 & Exhibit A, Amendment 3 to the Loan Origination Agreement <br />Amendment <br />The Mounds View Vision <br />A Thriving Desirable Community <br />