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<br /> <br /> <br />Item No: 07.A <br />Meeting Date: February 12, 2024 <br />Type of Business: EDA BUSINESS <br />Administrator Review: ____ <br />City of Mounds View Staff Report <br />To: Economic Development Authority <br />From: Brian Beeman, Assistant City Administrator <br />Item Title/Subject: Resolution 24-EDA-371 Approving a Fifth Amendment to the Loan <br />Origination Agreement with the Center for Energy and Environment <br /> <br />Background <br />The Center for Energy and Environment (CEE) administers several loan programs for the EDA. The <br />current agreement expired December 31, 2023. Therefore, an extension of the existing contract is <br />necessary to continue administering the EDA’s loan programs. There are no changes to the existing <br />Agreement. This amendment is only an extension of the expiration date. Everything else will remain <br />the same. The amended contract will be effective January 1, 2024. <br /> <br />Discussion <br />The EDA to discuss an extension of the existing services provided by CEE as necessary. There <br />are no changes to the existing Agreement. <br /> <br />Strategic Plan Strategy/Goal <br />Maintain a positive business climate where businesses want to locate and remain in Mounds View. <br />Finance top redevelopment areas Industrial/Commercial/Residential. <br /> <br />Financial Impact <br />None, this is a budgeted item. <br /> <br />Recommendation <br />Staff recommends the EDA consider 24-EDA-371 via a motion. <br /> <br />Respectfully submitted, <br /> <br /> ___________________________ <br />Brian Beeman, Assistant City Administrator <br /> <br />Attachment(s): <br />1. EDA Resolution 24-EDA-371, Approving a Fifth Amendment to the Loan Origination Agreement with CEE <br />2. Amendment 5, Loan Origination Agreement <br />3. Exhibit A4 Guidelines <br />4. Exhibit B4 Loan Program Budget