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Resolution 26-EDA-385 <br />Page 2 <br />2) Franchises and corporations are not eligible for the Forgivable Loan Program. The <br />program is intended exclusively for small, independent businesses operating within the City <br />of Mounds View. <br />3) The program shall continue to prioritize support for independent businesses that contribute <br />to a positive business climate, economic vitality, and long-term stability within the City. <br />4) City Staff is authorized to update all program documents, application materials, and <br />guidelines to reflect these amendments. <br />Adopted by the Economic Development Authority of the City of Mounds View this 9th day <br />of February, 2026. � I <br />ATTEST: <br />Nyle Zikmu , Ex utive birector <br />(SEAL) <br />