HomeMy WebLinkAboutResolution 94-EDA-09
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EDA RESOLUTION NO. 94-EDA9
RESOLUTION NO. 94-EDA9 APPROVING APPLICATION FOR THE STATE OF
MINNESOTA ECONOMIC RECOVERY GRANT TO PROVIDE A LOAN TO WOLF &
ASSOCIATES FOR EXPANSION OF LOCAL MANUFACTURING FACILITY
WHEREAS, Wolf & Associates, a local business in Mounds View since 1987, is
considering the expansion and reconfiguration of their current facility located at 4860
Mustang Drive and needs to secure gap financing to enable expansion in Mounds
View; and
WHEREAS, Wolf & Associates is a high quality and unique business that designs
and manufactures material handling systems for the pulp and paper, power
generation, mining, and resource recovery industries nation wide; and
WHEREAS, The City of Mounds View will be applying for an Economic Recovery
Grant from the Minnesota Department of Trade and Economic Development to make
a low-interest loan to Wolf & Associates and establish a revolving loan fund; and
WHEREAS, such an endeavor would be in the best interest of the City to ensure
the retention of 50 and the addition of 20 high quality jobs.
NOW, THEREFORE, BE IT RESOLVED THAT the Economic Development
Authority hereby approves the application for an Economic Recovery Grant from the
Minnesota Department of Trade and Economic Development to provide a low interest
loan to Wolf & Associates.
Adopted by the Economic Development Authority in and for the City of Mounds View
this 13th day of June, 1994.
ATTEST:
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