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Mounds View EDA April 10, 2023 <br />Regular Meeting Page 2 <br /> <br /> 1 <br />Commissioner Lindstrom questioned why a five year limit was set on this program. Assistant City 2 <br />Administrator Beeman explained the program was originally targeted towards new businesses. 3 <br />Finance Director Beer reported this program would be limited by the amount of dollars that were 4 <br />set aside within the budget each year. 5 <br /> 6 <br />Commissioner Lindstrom asked how much the City set aside for this program on an annual basis. 7 <br />Executive Director Zikmund stated the City set aside $25,000 per year for this program. 8 <br /> 9 <br />MOTION/SECOND: Meehlhause/Lindstrom. To Waive the Reading and Adopt Resolution 23-10 <br />EDA-364, Amending the New Business Forgivable Loan Program. 11 <br /> 12 <br /> Ayes – 4 Nays – 0 Motion carried. 13 <br /> 14 <br />7. REPORTS 15 <br /> 16 <br />None. 17 <br /> 18 <br />8. NEXT EDA MEETING: Monday, April 24, 2023 at 6:00 p.m. 19 <br /> 20 <br />9. ADJOURNMENT 21 <br /> 22 <br />Vice President Cermak adjourned the meeting at 6:13 p.m. 23 <br /> 24 <br />Respectfully submitted, 25 <br /> 26 <br /> 27 <br />Recorded and transcribed by: 28 <br />Heidi Guenther 29 <br />Minute Maker Secretarial 30