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Reports of Staff <br />November 18, 2021 <br />Page 2 of 2 <br /> <br /> <br />I. MV Square <br />Staff met with Paster Enterprises in September to seek their interest level in redeveloping the Mounds View Square <br />area. They see the need to redevelop the site. However, they need time to brainstorm and will check-in with the <br />City in mid-December. Does the EDA have any ideas for this redevelopment that staff can pass along to the <br />developer? <br /> <br />J. New Forgivable Loan Program <br />The EDA approved a new forgivable loan program that took effect October 18, 2021. The program is for new <br />Mounds View businesses that have been in business for five years or less and the intent is to invest in buildings, <br />signage, landscaping, etc. Home occupations don’t qualify and the business must be in a physical building. <br />Therefore, mobile businesses also do not qualify. The Business Improvement Loan that has been in existence for <br />several years is for Mounds View businesses that have been in operation for five years or more and the intent is <br />similar to the forgivable loan program. <br /> <br />K. Other Upcoming Events/Reports <br />The suburbs continue to see increased pressure from developers who are leaving the core of downtown <br />Minneapolis and St. Paul due to civil unrest. Staff continues to field calls and respond to developer inquiries. <br /> <br /> <br /> ______________________________ <br />Brian Beeman <br />Assistant City Administrator <br /> <br />Attachment(s): None