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Home My WebLink About02-13-1995 EDAY� __ � _ , � � T-�� .____ : r _ _ __ ____,_ _ _ _ _ ___ __ __ _ _ __ � __ __ _ _ :�..._ 1. CALL TO ORDER 2. ROLL CALL - President Linke Vice President Blanchard Secretary Trude Commissioner Quick Commissioner Hankner 3. APPROVAL OF AGENDA EDA ACTION: ATD Comments: 4. APPROVAL OF MINUTES: November 14, 1994 EDA ACTION: ATD Comments: ,iA�,��n � _: —� -�. l � EDA PAGE TWO FEBRUARY 13, 1995 January 9, 1995 EDA ACTION: ATD Comments: January 23, 1995 EDA ACTION: ATD Comments: 5. CONSENT AGENDA No items on consent agenda. 6. PUBLIC HEARING No public hearing scheduled for this meeting. 7. EDA BUSINESS � A. Consideration of Resolultion No. 95-EDA21 Supporting Application for Economic Recovery Grant, Staff Report No. EDA-95-30C EDA AC'TION: ATD Comrnents: � _� � - - _ � .- � _ _ �_ � EDA PAGE THREE FEBRUARY 13, 1995 B. Consideration of Acceptance of EDC 1995 Calendar, Bylaws, and Work Plan, Staff Report No. EDA-95-31C EDA ACTION: ATD Comments: C. Consideration of Resolution No. 95-EDA20 Approving Appointment of EDC Chairperson, Staff Report No. EDA-95-32C EDA ACTION: ATD Comments: D. Consideration of Resolution No. 95-EDA 22, Approving the Vision Statement for Highway 10 Corridor, Staff Report No. EDA-95-33C EDA ACT'ION: ATD Comments: E. Consideration of Resolution No. 95-EDA23, Supporting the Pursuit of a Small Business Loan Program for Mounds View Businesses as recommended by the Economic Development Commission, Staff Report No. EDA-95-34C EDA ACTION: ATD Comments: i�. �_ _ . _� ? _ - . . _ : � � EDA PAGE FOUR FEBRUARY 13, 1995 8. REPORTS: Report of EDA Board Members: 1. Report of President Linke: 2. Report of Vice President Blanchard: 3. Report of Secretary Trude: 4. Report of Commissioners: a. Commissioner Quick: b. Commissioner Hankner: 5. Repoi�t of Executive Director: 6. Report of Treasurer: 1 �� j '� � � � .�? � .� � � �° �,; `� � .� � L \�, J . I �� i rl , r1 � >, ; � ' �,� � I' �. .- . � � ., , :`5 , • . • : PROCEEDINGS OF THE MOUNDS VIEW ECONOMIC DEVELOPMENT AUTHORITY Meeting No. 9 November 14, 1994 Mounds View City Hall 2401 Hwy. 10, Mounds View, MN 55112 CALL TO ORDER The Economic Development Authority was called to order by President Linke on November 14, 1994 at 8:00 p.m. ROLL CALL MEMBERS PRESENT: President, Jerry Linke; Vice President, Phyllis Blanchard; Secretary, Diane Wuori; Commissioners Gary Quick and Julie Trude; and Executive Director, Samantha Orduno MEMBERS ABSENT: None OTHERS PRESENTo Economic Development Coordinator, Cathy Bennett; Assistant to City Administrator, Tim Cruikshank; City Consulting Engineer, Rocky Keene; Community Development Coordinator, Paul Harrington APPROVAL OF AGENDA: MOTION�SECOND: Trude/Wuori to Approve EDA Agenda VOTEe 5 ayes 0 nays Motion Carried APPROVAL OF MINUTES: MOTION/SECOND: Quick/Blanchard October 10, 1994 EDA Meeting VOTE• CONSENT AGENDA• 5 ayes 0 nays �o Approve Minutes of Motion Carried There were no items placed on the Consent Agenda for this meetinge PUBLIC HEARING° There were no public hearings scheduled for this meeting. EDA BUSINESS: ,.. ;� � '��' t h� „_,,_.�� ,'� �� 43 >; , � ;� � � 5�, �� . .. . �. � �, , _t � . � EDA Meeting No. 9 Page 2 November 14, 1994 A. Consideration of Resolution No. 94-EDA17 Approvinq Construction Plans for the Silver Lake Pointe Project Cathy Bennett, Economic Development Coordinator, reported that per Section 3.3, Construction Plan, of Development Assistance Agreement for the Silver Lake Pointe Project, the Authority shall approve the Construction Plans if it determines that they conform to the applicable provisions of the Agreement. Such Construction Plans must be rejected in writing by the Authority within ten working days of submission or shall be deemed to have been approved by the Authority. The full plans were submitted to the City�s building department on October 31, 1994 and the attached resolution fulfills the requirement for the Authority to approve the Construction Plans for the Silver Lake Pointe Project within the ten working days of submission. Bennett said she had included a memo for review from Building Official Rick Jarson which outlines the required changes to the plans to conform with the City's building codes. She noted that per Section 3.3, approval of the Resolution 94- EDA17 does not in any way approve the building permit process with the City's Building and Engineering Department. The resolution is to approve the design and configuration of the project as it was understood in approval of the Development Assistance Agreement. Jeff Huggett of MSP Real Estate explained that the project started back in January or February when he met with Samantha Orduno, City Administrator, and Paul Harrington, Community Development Coordinator. Shortly after that, application was made to the City Council for the tax increment financing and rezoning approval of the project, Huggett said their final plan which was approved by the EDA, was an 83 unit, three-story project with underground parking of 66 stalls. He stated that they are building 83 units in the ratio of 50 one-bedroom units and 33 two-bedroom units. They have achieved 73 underground parking stalls and the same amount of on-site parking stalls that was previously approved by the EDA Board. Another requirement of the EDA was to have a minimum of 59 affordable dwelling units within the project. Huggett stated that, based on financing that was obtained, 70 affordable units will be available out of the 83 totale The amount of brick on the project was another concern of the EDA and Huggett said the amount of brick was now at 50% on this project. He reported that construction plans were submitted � � ;�. � �,, ,� � � �� , � ,i . . , �; °� EDA Meeting No. 9 Page 3 November 14, 1994 through the Minnesota Finance Agency for tax credit financing and that this project received more tax credits than any other senior affordable housing project in the State of Minnesota. Huggett commented that 85 people had already signed an interest list to rent in the building and only 83 units were being built. At the time the project was started, interest rates were at 9%. Those rates are now in the 10% to 10-1/2% range and Huggett said the rental rates of the affordable units would remain around $490 for a one-bedroom to $590 for a two-bedroom unit< Market rate units would be higher than that. Huggett commented that numerous wetland issues were brought up. Those issues have all been resolved and the Rice Creek Watershed District (RCWD) issued a permit in August. Skip Sorrensen, the project architect, used an overhead projector to show the layout of the proposed project. He pointed out the locations of the new sidewalks and trees to be planted along the boulevard. The entire site will be sodded and will have an irrigation systeme The entrance into the underground parking will occur off Mounds View Drive. That elevation is about 4� lower than the existing street so there will be a gradual decline going in with an electronic garage door opener. Commissioner Trude pointed out an area west of the buildingo Sorrensen explained that on April 27, that area was delineated as a wetland by the surveyor indicating that no encroachment could be done in �he way of filling or building within that wetland area. Neither the parking lot nor the building encroaches on that wetland areae Trude questioned exactly what area would be sodded. Sorrensen explained that the sodded area would occur all the way to the edge of the property line on three sides and about two-thirds of the way on the north side of the site. There will be tree plantings along the wetland area as well. Huggett explained that one of the requirements of the Rice Creek Watershed District was that the wetland area be improved and upgraded. Sorrensen pointed out the driveway location coming into the garage off Mounds View Drive, and indicated the averhead garage door is 16' wide. A staging area will be provided outside the garage door for the weekly pick up of refuse 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 � � �y,� ,��, �� !�� _ , -, � . �� EDA Meeting No. 9 Page 4 November 14, 1994 containers. There is heat and 24-hour lighting provided in the underground parking. He went over the structural details of the garage and said there would be ample space for handicapped parking stalls located near the main elevator lobby. Sorrensen said that one of the features being provided in the lower level is a carwash bay. There will also be custodial maintenance, mechanical and electrical rooms located on the lower levele Adjacent to the elevator lobby will be the trash compactor area where the trash chute comes down. This trash room has been resized for disposable refuse and recycling containers. There will be a trash chute and recycling bins located on each f loor and larger bins located in the trash room. Sorrensen felt that not more than 80% of the tenants would have vehicles once they moved into this building, and the 73 parking stalls would be adequate. Secretary Diane Wuori expressed concern regarding the number of underground parking stalls, citing the poor public transportation in the area. 25 Sorrensen described the security system, which will have a 26 communications phone in the lobby to be used to contact the 27 tenant, allowing entrance to the building. He explained that 28 the building will be prewired for future security television 29 monitors at the garage door and at the main entrance. It will 30 also be prewired for a future emergency generator in the 31 buildinge 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 Sorrensen pointed out the features of a typical one-bedroom unit stating that all units will comply with the Federal Fair Housing Act, Minnesota State Handicap Code and the American Disabilities Acte Each one-bedroom unit will have an air conditioner in the bedroomo Every unit will have a pantry and kitchen, dishwasher, exhaust hood, electric range and refrigerator. There will be a storage room with adjustable shelving on the wall and a coat rack in each dwelling. Some of the bathrooms will have bathtubs and some will have showers. The dimensions of a typical one-bedroom is 13' x 13'1/2' with a walk-in closet. He then pointed out the features of a typical two-bedroom unit, noting there will be an air conditioner in the bedroom and living room. 47 Sorrensen stated that miniblinds, carpet, sheet vinyl, all 48 cabinetry, plumbing fixtures, phone and television jacks in 49 the bedrooms will be provided in each unita The only thing 50 the tenants will have to furnish is their own possessions and EDA Meeting No. 9 "I � �� .� �� -- .� f� �q �� :• ,I �' '� 1 _ , ., . �_:. , �� .. r� Page 5 November 14, 1994 telephone. There will be sound proofing between each dwelling unit and the floors. Fire-stopping material will be put in the gypsum floors between the garage level and the first and second floors. The windows will be vinyl with low E argon glass. Sorrensen said the exterior of the building will feature bay windows along the two wings of the building with accent brick. The main entrance canopy going into the building will connect from the lobby all the way out to the main turnaround. There will be power assisted entrance hardware on the main lobby doors. Rain gutters will be located near the entrances. There is a complete area drain that goes across the entrance of the garage. That water will be taken inside the building to a sump where it will be pumped up into the retention pond. There is also a complete drain tile system at the lower level tied into sumps to the retention pond. Sorrensen explained design elements of the building such as the solarium, management offices and mail room. The community room on the first floor will have seating capacity of nearly 100, with a residential-type kitchen rather than an institutional-type kitchen. There will be laundry rooms on each floor in the center of the building. An ornamental open staircase wi 11 go from the f irst f loor up to the second f loor e A health and beauty room will be located on the second floor for a barber shop or salon. There will be a television lounge directly across from that. The third floor will have a library room facing south with outside windows. It will have built-in book shelves. Charlie Melcher, engineer for the project, explained the wetland issues. He pointed out an area of .05 acres that was a man-made wetland created less than ten years ago. Although the RCWD approved an exemption for this area, the developer was asked to mitigate 3,170 square feet of an area located north of the building. The RCWD also wanted the existing wetland enhanced either by excavation, removing the soil all together, or by pushing the soil out to the boundaries to form a berm. This project was accepted and approved along with the 3, 170 square feet that was mitigated and a permit was received in Augusto Melcher said the high water table of the area was 906a2 and the garage slab was at 906. Their solution to the problem, which was agreeable to Steve Woods of RCWD and the Mounds View Consulting Engineer, was to fully waterproof the boundaries of the walls, to provide an exterior drainage system which connected it to the sumps. There will also be an undergrade system which would take under-slab water to the sumps to be i�� EDA Meeting No. 9 � ��, +� ,r :! { � ��_ � � � �° ,� c � r.i I r;-"^, , t' u-- ,� .. . _'' .. '� �{ ...� ��_ :�.. Page 6 November 14, 1994 pumped out through the weir and into the wetlando In Melcher's opinion, if there were to be a hundred-year storm back to back or even three in a row, this project would not obtain substantial water to the point there would be wet slabse If there was water coming in and under the slab, it would be pumped out at a greater rate than it would be coming in. The building itself is well above the 908.2 elevation the City required. The drainage pond met the RCWD's requirement for the release rate of the proposed increase in runoff due to this project. Melcher furnished to the EDA copies of a report from Huntingdon that showed an engineering review of the area. He also furnished copies of a hydrologic review from Rocky Keene, Consulting Engineer for the City. Melcher noted that, at the request of Mre Keene, revisions were made to the proposed contours of the ponde Trude expressed her concern for rain and ice building up at the garage entrancee Melcher explained that there would be a 1' wide by 12' long catch basin leading into the water drainage system to be pumped out. He also explained the elevations and water drainage of the project areae President Linke remarked that any approval given at this meeting does not preclude the approvals that are necessary by the engineers and the building officials. He stated that what is being considered for approval by the EDA is the layout of the building. Linke explained that, basically, EDA's review has gone from preliminary to final drawings with no review in between. Trude stressed that she wants this building to be good quality because it will serve the people of the community for a long timee Linke asked Rocky Keene, City Consulting Engineer, if he had any concerns regarding this project. Keene said he didn't feel there would be a problem with surface water going into the buildinge He also mentioned that the wetland issues were under the jurisdiction of the RCWDe Melcher explained the types of vegetation that will be plan�ed in the wetland areao Wuori said there were nice pussy willows growing in that wetland now and it would be a shame to replace them with something differente Keene questioned the practicality of ;� , '� � i�E� �` � a � �i�' i _ �� `� � �'� � � .-�� , � ``., /' �,, r �� I' � , l�' �r" � il h� ,�;� ,.� � � � - - � �- .. ,. � ii�i . � EDA Meeting No. 9 Page 7 November 14, 1994 enhancing a wetland and replanting it when the vegetation already growing there is so nice. Commissioner Quick remarked that, to his recollection, the wetland did not exist until County Road I was built and the owner of the property excavated it. He said the wetland appears man-madee Paul Harrington, Community Development Coordinator, commented that the maps used by the City to determine buildable property do not show a wetland area at this location and that RCWD raised the issue of the wetland. Cathy Bennett said that this approval would not take any precedence to the building approval.� The project is still required to go through the process. Linke explained that the EDA must determine whether the developers actually did what they said they would at the preliminary hearing and consider approval of the layouts. Executive Director Samantha Orduno said that it was made clear to Jeff Huggett and other members of the development team that this project would be under close scrutiny, particularly with respect to drainage problems. It was also made clear this would be a viable development, that there would not be a situation where there would be water in that underground garage. Orduno felt that the development team has compliede She also felt they were aware of the City's concerns as well as the concerns of the RCWD and local residents. The items that the developer said they would provide are now on record and the City will definitely hold them accountable. Keene explained the 10:1 side slope recommendation for the retention pond. He cited the safety factor since this area is located in a residential districto He also addressed the minimum building elevation criteria, and was satisfied with that. Keene said he had talked to a RCWD engineer and was told there was no high water elevation in the wetland located to the west of the projecte Keene discussed the subject of retention pondinge It is the philosophy of the City to do nothing about a retention pond when it turns greena The pond has been built for one purpose- -to remove the sedimentation. Keene referred to a letter he had written to Paul Harrington dated November 11, 1994, in which seven recommendations were ! _ . . . ��. �� . � :� EDA Meeting No. 9 � �� ' � ;' � � �' � �4�,! , �,; /yJ�� =I � I t I ' �.S' � � �1 � � �JI I! �, 1I I �; � / � ,� (J � � , ., . _ �! , � '.. �', ! -, �! Page 8 November 14, 1994 madee He briefly commented on those recommendations, indicating that the issues had been resolved by the developer. Keene stated that this area was identif ied as a drainage study area in the Local Water Management Plan to address the kinds of issues being discussed at this meeting. The purpose of the Local Water Management Plan is to find out what kinds of wetlands the residents want in this area. Trude expressed concern about water going into the garage level of the buildingo Keene explained that the elevation of County Road I is such that it is lower than any accessible point into the building so water is not going to flow toward this buildingo Regarding the groundwater issue, the sump pumps may run a fair amount of time during certain periods, but Keene felt they would keep the garage dry. MOTION/SECOND: Quick/Wuori to Adopt Resolution No. 94-EDA17 Trude asked if there was a portion of the Development Agreement that would still allow for the review of other plans concerning this project. Orduno explained that, once the Construction Plans are approved, any requirements remaining in regards to the building permit would then be up to the building officials. Trude asked if there should be any building contingencies put on the project. Linke explained that the contingencies are the building codes. VOTE: 5 ayes 0 nays Motion Carried REPORTS 1. 20 3. 4. 5� Report of President Linke: No report. Report of Vice President Blanchard: No report. Report of Secretarv Wuori: No report. ae � Report of Commissioner Quick: No report. Report of Commissioner Trude: No report. Report of Executive Director Ordunoo No reporta .� =K � . _r . �� 1 2 3 4 5 6 7 8 9 10 11 12 � � �, � � ,; � 'C , � I�'��, �� . � � ,� � 1, fr � 4� � I �.i �� i ;� `� rj � � `,'i �; �� , :; ;1 � ,:� EDA . . , _ � . Page 9 Meeting Noe 9 November 14, 1994 ADJOURNMENT There being no further business before this Authority, President Linke adjourned the meeting at 9:47 p.m. Respectfully submitted, Judy Rider Recording Secretary TimeSaver Off Site Secretarial n ;! � 1 ,-- �, » �;� E i ,a',{ � �� ` �� r � � ,,,� , . , , �, ,.i �; ; � � , � . ; � . .� �; F:, PROCEEDINGS OF THE MOUNDS VIEW ECONOMIC DEVELOPMENT AUTHORITY Meeting Noa 10 January 9, 1995 Mounds View City Hall 2401 Hwye 10, Mounds View, MN 55112 CALL TO ORDER The Economic Development Authority was called to order by President Linke on January 9, 1995 at 7:39 p.m. ROLL CALL MEMBERS PRESENTe President, Jerry Linke; Vice President, Phyllis Blanchard; Commissioners Gary Quick, Julie Trude and Sue Hankner; and Executive Director, Samantha Orduno MEMBERS ABSENT: None OTHERS PRESENT: Economic Development Coordinator, Cathy Bennett; Assistant to City Administrator, Tim Cruikshank APPROVAL OF AGENDA: MOTIONJSECOND: Trude/Blanchard to Approve EDA Agenda VOTE° 5 ayes 0 nays APPROVAL OF MINUTES: There were no minutes to approvee CONSENT AGENDA• Motion Carried There were no items placed on the Consent Agenda for this meetinge PUBLIC HEARING: There were no public hearings scheduled for this meetinge EDA BUSINESS: Ae Consideration of Resolution No. 95-EDA18 Reappointment of Members to the Economic Development Commission President Linke noted that the terms of the Commissioners should be staggered and the individual Commissioners should be _ _ _ __i i '°� �j t � � �c,� �j a � � . i 1` t�ti�V� �j sJ i? ' j_ � i� �� i (� � •' � � " ` F EDA „ _ 'i � ; ''� t,r � � �-� Page 2 :� i� , , sJ u �� u . :.;% �.�J . �: , : _ ,. �. Meeting No. 10 January 9, 1995 contacted before these staggered appointments are made. The Resolution should also show reference to the EDA Liaison. MOTION/SECOND: Linke/Hankner to Table Resolution Noa 95-EDA18 Reappointment of Members to the Economic Development Commission VOTE: 5 ayes 0 nays Motion Carried Be Consideration of Resolution No. 95-EDA19 Appointment of the Economic Development Authoritv Officers Cathy Bennett, Economic Development Coordinator, reported that the annual election of the President, Vice President and Secretary were a requirement of the Bylaws. She read the Resolution which stated the following elections: Jerry Linke, President Phyllis Blanchard, Vice President Julie Trude, Secretary MOTION/SECOND: Hankner/Trude Adopt Resolution No. 95-EDA19 Appointment of the Economic Development Authority Officers VOTE: 5 ayes 0 nays Motion Carried REPORTS lo Report of President Linke: No report. 2. Report of Vice President Blanchard: No report. 3. Report of Secretarv Trude: No report. 4. a. Report of Commissioner Ouick: No report. b. Report of Commissioner Hankner: No report. 5. Report of Executive Director Orduno: No report. ADJOURNMENT There being no further business before this Authority, President Linke adjourned the meeting at 7:45 p.me Respectfully submitted, Judy Rider Recording Secretary TimeSaver Off Site Secretarial �,h � � � � ,�,�,� �� —�'� t9 !� �� r' � � 1�',� � ` 3�.-Y z� y`I �� r� '� � � � � � _ , � i/j -''1 i ' F �'.:/ i:,: �� . PROCEEDINGS OF THE MOUNDS VIEW a ECONOMIC DEVELOPMENT AUTHORITY Meeting No. 11 January 23, 1995 Mounds View City Hall 2401 Hwy. 10, Mounds View, MN 55112 CALL TO ORDER The Economic Development Authority was called t� order by President Linke on January 23, 1995 at 7e48 pemo ROLL CALL MEMBERS PRESENTe President, Jerry Linke; Vice President, Phyllis Blanchard; Secretary, Julie Trude; Commissioners Gary Quick and Sue Hankner; and Executive Director, Samantha Orduno MEMBERS ABSENT: None OTHERS PRESENT: Economic Development Coordinator, Cathy Bennett APPROVAL OF AGENDA: MOTION/SECOND: Trude/Quick to Approve EDA Agenda VOTE: 5 ayes 0 nays Motion Carried APPROVAL OF MINUTES: There were no minutes to approve. CONSENT AGENDA° There were no items placed on the Consent Agenda for this meeting. PUBLIC HEARING° There were no public hearings scheduled for this meeting. EDA BUSINESS° Ao Consideration of Resolution No. 95-EDA18 Reappointment of Members to the Economic Development Commission and Desianatina an EDA Liaison 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 � � �{ � �� J '�� y F � li �tl I? '�� 11 .'1 `', E.,'�. �� ' �,` G� °e !'i �, � j -°- a i EDA . ' ; '� :., i. �, .. . Page 2 Meeting No. 11 January 23, 1995 MOTION/SECONDe Quick/Hankner to Approve Resolution No. 95- EDA18 Reappointment of Members to the Economic Development Commission and Designating an EDA Liaison Vice President Blanchard expressed concerri that both members' terms expiring in 1996 are business people. President Linke clarified that �he designated Liaison to the Economic Development Commission was Commissioner Hankner and Commissioner Quick has been designated as the alternate EDA Liaison. Linke welcomed Rosemary Goff, a member of the Economic Development Commission. VOTE° 5 ayes 0 nays REPORTS 1. 2. 30 4e Motion Carried Report of President Linke: No report. Report of Vice President Blanchard_;_ No report. Report of Secretarv Trudee No reporte a. I� Report of Commissioner Quick: No report. Report of Commissioner_Hankner: No report. 5e Report of Executive Director Orduno: No report. ADJOURNMENT There being no further business before this Authority, President Linke adjourned the meeting at 7:52 p.me Respectfully submitted, Judy Rider Recording Secretary TimeSaver Off Site Secretarial MOliNDS VTEW ECONOMIC DEVELOP�1�IEti'T AUTHORITY �EQliEST FOR �DA C4�SI�ER�TIOti ST�FF REPORT EDA �fEETP� (G DATE February 13, 1995 ED�. .-�.�tion: IJ Special Order o[ Business ❑ Public Hearin�s A�enda Se�tion: 7.A Report Numbe:: EDA-95-30C '! Consent ;��c►icl;i Rcporc Datc: 2-8-95 !� CDA Busiu�ss Itciti Dc:scriptioit: Consideration of Resolution No. 95—EDA21 Supporting Application for Economic Recovery Grant E�cecu�ivc Director's Review/Recommendatio . - No commencs to supplement tliis reD t ' - CVI1111I1:ilCS :ll[:1C:�Il'Cl Lspia�i:lUU(1/SUAlill:]n,' (att�ch supplcmc:n� �hcets :a nccessary� S I11�1;�1,� RY: Dynex Industries, a local Mounds View business since 1981, approached the City with regards to expansion of their current headquarters facility located at 4751 Mustang Circle. Dynex Industries is an environmental and electrical services company,and recently began manufacturing a unique machine that recycles fluorescent lampse Dynex was interested in ways that the City could assist in their expansion. Unfortunately, since Dynex is not located in a current Tax Increment District, a typical development agreement would not be feasible. Dynex is currently fully developed at 25,000 sq. ft. and would like to expand by 50,000 sq. fte Dynex would initially occupy 15,000 sq. ft. of their expanded space and lease the remaining with ._plans to expand into those areas in the future. The expansion would �consolidate their other Twin Cities locations into one corporate headquarters facility in Mounds View with a total of 70 employees initially< The Economic Development Commission is in support of taking necessary measures to assist in the retention of Dynex and has passed Resolution No. 95-EDC3 in support of an application for an Economic Recovery Grant from the Minnesota Department of Tracie and Economic Development. The grants are awarded to local government units who then make gap- financing loans to assist new or expanding businesses. The approval Cathy Bennett, Economic Development Coordinator RECOi�i�1E�1D.-�TIO�: Approve/Disapprove Resolution No, 95-EDA21 Approving the Application of the State of Minnesota Economic Recovery Grant to Provide a Loan for the Expansion of Dynex Industries �,- � r I STAFF REPORT PAGE TWO FEBRUARY 13, 1995 process is very competitive due to a limited amount of funds. I have contacted Ramsey County Commissioner Dick Wedell for a letter of support, since Dynex serves as the County's hazardous waste disposal facility. The letter of support is attached. Dynex Industries has been a very valuable corporate citizen through their participation in Mounds View's Clean Up Days, Focus 2000 and Festival In The Park. The attached resolution will serve as assurance that the City of Mounds View's EDA is supportive of Dynex Industries and, if awarded, would loan the necessary funds to Dynex for their expansion. RESOLUTION NO. 95-EDA21 CITY OF MOUNDS VIEW COUNTY OF RAMSEY STATE OF MINNESOTA RESOLUTION NO. 95-EDA21 APPROVING APPLICATION FOR THE STATE OF MI�INESOTA ECONOMIC RECOVERY GRANT TO PROVIDE A LOAN TO DYNEX INDUSTRIES FOR EXPANSIONOF LOCAL HEADG�UARTERS FACILITIY WHEREAS, Dynex Industries, a local business in Mounds View since 1981, is reviewing the expansion of their current headquarters facility located at 4751 Mustang Circle and needs to secure gap financing to enable expansion in Mounds View; and WHEREAS, Dynex Industries is a high quality, innovative environmental and engineering consulting servicdes firm that manufactures fluorescent lamp recycling machines throughout the U.S.; and WHEREAS, the City of Mounds View is applying for an Economic Recovery Grant from the Minnesata Department of Trade and Economic Development to make a low-interest loan to Dynex Industries 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 45 and the addition of 25 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 Dynex Industries. ATTEST: (SEAL) Adopted by the Economic Development Authority in and for the City of Mounds View this 13th day of February, 1995. President Executive Director BD-R.C.-COMMISSIONERS* TEL�6122668370 Jan 25'95 �MS !' - a�K.��. �� .° . ��'" • � ;�ti�uti ��:� / ,�T.. ,.`�J% DICK WEDELL BOARD OF RAMSEY COUNTY COMMISSIONERS DISTRICT 1 PATRICK HARRIS aSSiSTANT TO COMMIS�[ONER January 25, 1995 Hs. Cheryl ,7ahnson DTED Communi�y Development Division 500 Metro Square 121 Seventh Place �ast Saint Paul, Minnesota 551.01--2146 Oear Ms. Johnson: 15:36 No,008 P.02 2ao COURT HOUSE ST. PAUL, MINNESO?A Sfilo2 TEL. (612) 266.$950 FAX (612) 266-8970 I am writi.ny to offer my enthusiastic support for the City of Mounds View's application for an Economic Rerovery Grant for Dynex Industries. As Mounds View's representative on the Ramsey Courity Board of Commissioners, I view their proposa� as an Opportunity not only to strengthen the economic base of our county, but to set an ex�mple for hoW we do business in the State of Minnesota. Yn a time of difficult choices for our business community, i believe government needs to take a proa�tive �p�roach �n retaining the solid economic atmasphere that makes rommunities strong. Like many cities, Mounds View is certainly not a stranges to losses in its economi� base. Consequently, when an opport�unitiy arises to strengthen a business such as Dynex Industries, and strengthen the ecoriomy, we need to work 'toqether in government and the private sector to make it happen. Once again, 2 would iike offer gupport for Mounds view's grant application. Zf I can be of assistance in any matter, �lease do not hesitate to tontact mes Thank you very much foac your tYme. Sincerel c�r�f� � Dick Wedell Ram$ex County Commissioner District 1 Minnesota's Firat Hortte Rule County prinled on raycled pepe� wM e mI�llYluM oi 1096 poEl coneumer oonant e �.. EDA RESOLUTION NO. 95-EDC3 RESOLUTION NO. 95-EDC3 SUPPORTING TI� APpLICATION FOl� 'I'I-� ��A�`'� OF MINNESOTA ECONOMIC RECOVERY GRANT TO PRO�1� ��.c�� ^ F�� `�c� DYNEX INDUSTRIES WHEREAS, Dynex Industries, a local business in Mounds View since "� � �._ ,;. considering the expansion of their current facility located at 4751 Mustang Ci�cl:; a,�;,.�: Ys zr� need of gap financing to enable expansion in Mounds View; and WHEREAS, Dynex Industries is an environmental and electrical engineeriri� cantractin� company that also manufactures a �luorescent light bulb recycling machine wifiih dlistrib�xtion and service nation wide; and WHEREAS, Dynes Industries will be consolidating offices in Blaine, Ard�r� ��.� �.��. Fridley to Mounds View upon the completion of a successful expansion, and WHEREAS, the Economic Development Commission's mission includes th� prar��at�.�r� of a positive economic climate which retains and expands esisting businesses; and WHEREAS, The Ciiy 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 Dynex Industries and establish a revolving loan fund; and WHEREAS, such an endeavor would be in the best interest of the Ciry to ensure the retention and addition of 70 high quality jobs. NOW, THEREFORE, BE IT RESOLVED THAT the Economic Development Commission hereby supports the City of Mounds View's application foz an Economic Recovery Grant from the Minnesota Department of Trade and Economic Development to provide a low interest loan to Dynex Industries. Adopted by the Economic Development Commission of the City of NTounds View this 26th day of January, 1995. -, ATTEST: � � `' ,�P� , � . Chair `� °� (SEAL) Economic v lopment Coordinator e �YIOUNDS VIEW ECONOMIC DEVELOPMENT AUTHORITY ,. ' R�QUEST FOR EDA CONSIDEkt�TION � STAFF REPORT ; ' EDA I�tELT'ING DATE February 13, 1995 f DA Action: i ❑ Special Order of Busi�iess ❑ Public Hearings ❑ Cunsent Agenda � LDA 13usincss Agenda Section: � • B Report Nuniber: — — Report Date: — — [tcm Descrip�iui�: Consideration of Acceptance of EDC 1995 Calendar, Bylaws, and Work Plan Lsecutive Director's Review/Recommendat' n: -�!o commeczts to suppleuient tliis rep t � - Cumnicu�s attnch�cl ��X��IIll�l[1011/S11I11f111N (nttach iupplemeut shc:ets ;u nca;:snry) 5 UMNiARY: At the first regular meeting of the Economic Development Commission (EDC) on January 26, 1995, the members unanimously approved the 1995 Calendar of Regular Meetings, Work Plan and Bylaws for the governance and direction of the commission. Regular EDC meetings are held on the fourth Thursday of every month with the exception of November and December which are scheduled for the third Thursdays. The Bylaws include minor revisions as it relates to Meetings, Minutes, Adjournment and Conflict of Interest. Those changes are attached and redlined. Since 1994 the EDC only had 4 full meetings, several of the work plan items have been carried over. The work plan was presented at the Council/Staff work session and falls in line with the goals and objectives of the City's Economic Development Program. Upon your review, it is requested that EDA accepts the EDC Bylaws, Calendar of Meetings and Work Plan for 1995. Cathy Bennett, Economic Development Coordinator RECOhI1�tEND;�TION: Staff is recommending that the EDA accept the EDC Bylaws, 1995 Work Plan Calendar of Regular Meetings. - : �.� . . _ .: ... � . �v�. . , -___ _. . ,�� ._ �._ . _ _ _ ___ ____ _ _ _ __ _ � MOUNDS VIEW ECONOMIC DEVELOPMENT COiViMISSION RESOLUTION NO. 95-EDCS CITY OF MOUIVDS VIEW COUNTY OF RAMSEY STATE OF MINNESOTA ESTABLISHING CALENDAR OF MEETIIVG DATES FOR 1995 WHEREAS, the Mounds View Economic Development Commission will be holding one business meeting per month throughout 1995 with the exception of Special Meetings; and WHEREAS, a display of ineeting dates be established to provide an orderly system for use by the Economic Development Commission, staff and general public; NOW THEREFORE, BE IT RESOLVED that the Economic Development Commission of the City of Mounds View establishes the following meeting dates of regular business meetings at 6:00 p.m.: January 26, 1995 February 23, 1995 March 23, 1995 April 27, 1995 May 25, 1995 June 22, 1995 July 27, 1995 August 24, 1995 September 28, 1995 October 26, 1995 November 16, 1995 December 21, 1995 BE IT FURTHER RESOLVED that materials from the public, that are to be reviewed by the Commission, shall be submitted to the assigned City staff ten days prior to fihe upcoming Commission meeting. BE IT FINALLY RESOLVED that if the Economic Development Commission �is required to or desires to hold special meetings or make adjustments to the 1995 calendar of ineetings, they will do so in accordance with State law, Code requirements and the Bylaws. Adopted this 26th day of Janaury, 1995. ,/ � /� AITEST: iL/ �� (�-�`�'?,� , , Chair ' ' (SEAL) conomi elopmenfi Coordinator j �.�_ � � ECONOMIC DEVELOPMENT COMMISSION 1995 WORK PLAN Mission Sta temen f.� The Economic Developmenfi Commission shall serve as an advisory body to the Economic Development Authority to promote a positive economic climate, which retains and expands existing businesses, attracts desirable new businesses, and revitalizes the community. Action Steps.• � Begin updating Mounds View 19$6 Economic Development Plan. -� Review and make recommendations to fihe EDA on programs to enhance business development. -� Review and provide comment on fihe recommendations from the Highway 10 Subcommittee regarding proposed redevelopment plan for Highway 10 Corridor. -� Develop a list of targeted industries for future economic development programs. � Research innovative programs of other metro area cities as it relates to development, redevelopment and housing rehabilitation. � Monitor the responses and make recommended solutions to the findings of the North Metro Business Retention and Development Commission Program. � Begin evaluating development design standards for new development and redevelopment in the City. -� Initiate the adoption of a Tax Increment Financing Policy to include fundability guidelines. � Actively participate in retention calls to local businesses. -� Review and make recommendations with regards to funding programs for the rehabilitation of Mounds View's housing stocl<. � Communicate on a regular basis with the public on the Economic Development Commission activities, encouraging written or verbal comment, through the City Newsletter, cable and other interactive avenues. -�-_ � ___ � _ ___ ___ � : . �e _ - __ I Amended 1/26/95 MOUNDS VIEW ECONOMIC DEVELOPMENT COMMISSION BYLAWS I. AUTHORITY: These Bylaws are established in accordance with City Ordinance 408.07, Subdivision 6. "The Commission shall adopt bylaws for its governance and for the transaction of its business." There shall be no conflict between the Bylaws of this �ommission and the provisions of the City Charter and the Municipal Code. II. MEETINGS. The regular meetings of the Commission shall be held on the #�i+r� fourth Thursday of each month as established by resolution of the Economic Development Commission. Regular meetings may be changed, added or canceled by the chairperson or vice-chairperson. Special meetings may be added by the chairperson or vice-chairperson. A. The regular business meeting shall be for the purpose of making recommendations to the Economic Development Authority, herein EDA, conducting public hearings, drafting of reports, and for other discussion not requiring action (ie. vote) by the Commission. B. Meetings shall be conducted in accordance with State Open Meeting Laws. III. INFORMATIONAL PACKETS. Each commissioner shall receive an informational planning report for the items that are on the regular meeting agenda no later than the Friday preceding the regular meeting. Each commissioner is responsible for reviewing the material within the packet prior to the regular agenda meeting. 1 Amended 1/26/95 IV. ATfENDANCE. Commission members shall advise the designated Staff member or chairperson of an anticipated absence from any regularly scheduled Economic Development Commission meeting. Any member attending less than eighty percent of the meetings per year without consent of fihe commission shall be deemed to have vacated the office, and such vacancy shall be filled by the EDA pursuant the Chapter 408.06 of the Municipal Code. A leave of absence may be granted by the consent of the commission. V. PROFESSIONAL CONSULTANTS. Advice from, consultation with, and/or requests far review by the City Attorney, Bond Attorney, City Engineer, City Planning Agency, or other paid consultants shall be in accordance with the Municipal Code. VI. ADJOURNMENT. Meetings shall adjourn on or before -�-9:99 9:00 p.m. unless a two-thirds majority of the members present agree to extend the time of adjournment. VII. MINUTES. Approved minufies shall be the official record of the Economic Developmenfi Commission. A. The minutes shall state: 1. The kind of ineeting, whether regular business or special and the date, time and place. 2. Roll call of inembers present and whether absent members are excused or unexcused. 3. Corrections to and approval of the previous minutes and the vote taken. 4. Description of each item being discussed. 5. A motion and second is required for each action item and the motion shall be recorded as accurately as possible. 2 � _ �� .r �__ . � - Amended 1/26/95 6. The vote on each motion (ayes, nays, and abstentions), a statement of reasons for nay votes or abstentions, and whether motion carries or fails. 7. Specific concerns addressed to the chairperson for inclusion in the minutes 8. Reports by members. 9. , , . Time for adjournment. 10. Signature of the Staff designated member. B. All minutes shall be clearly marked to indicate either "APPROVED" or "UNAPPROVED". Each commissioner shall receive a copy of the previous regular business meeting minutes "UNAPPROVED". Approved copies may be obtained upon request. A copy of the approved minutes shall be filed with the EDA Clerk-Administrator. VIII. LIAISON TO EDA. In the event of the absence of the EDA ex-officio member, a commission member may be appointed by the chairperson to represent the Economic Development Commission at the next regular EDA meeting. IX. (POTENTIAL) CONFLICT OF INTEREST. When a(potential) conflict of interest may exist for a commission member or members, the member(s) shall ask to be excused and step down from the commission prior to discussion on that item. X. SUPPLEMENTARY PUBLICATIONS. All commission members shall receive a copy of the Municipal Code, Chapter 408, a copy of the 1986 Economic Development Plan, as well as other materials as provided by the EDA, Staff or other commission members. 3 1 � EDA Action: i�IOliNDS VIEi��' ECONOMIC DEVEL�PME:�'T A�JTHQR:TY REQUEST FOR EDA C�NSII�ERATION ST:�FF RE�ORT EDA �fEETL'�G DATL- February 13, 1995 ❑ Speciai Order of Business Abenda Section: �• � ❑ Public HearinSs Report Numbe::: EDA-95-32C ;=,� Cunsent Agencla Repc�rt Date: Z-$-95 l�] CDA Busiucss Itciii Descrip�ioii: Consideration of Resolution No. 95-EDA20 Approving Appointment of EDC Chairperson Execuiive Director's Review/Recommendat' n: - No commen�s to supplement tliis rep rt - C�tiin�c:iits a�tac:hecl LX�7�II11a[ioit%Sunlmary I:�ttach iupplcmcn[ SIICCIl :LS nccc;ssary� S U�1ib1A FY: Under Municipal Code Chapter 408e7, Subdivision 1, entitled Economic Development Commission, Orqanization it is required that "at the first regular meeting of the year, the Commission shall appoint a chairperson from among its voting members and that this appointment shall be subject to Authority approval and shall consist of a one year term." At the first regular meeting of the Economic Development Commission (EDC) on January 26, 1995, the members unanimously elected Phill Siepp, President and CEO of SYSCO Minnesota as Chairperson of the Commission. The Commission felt it important resident and business person and Welsch, was a resident. to alternate the Chair between a the prior EDC Chairperson, Delane Dan I�elson, resident of Mounds View, was elected as the Vice-Chair for 1995e. Cathy Bennett, Economic Development Coordinator KECOtit;�IE�lDATIO�: Staff is recommending that the EDA adopt Resolution No. 95-EDC20 approving the appointment of Phil Seipp as Chairperson for the Economic Development Commission for 1995 , �_ ._ - ., . ,�r .� � : _ e � _ _ �= s; ,. RESOLUTION NO. 95-EDA2Q CITY OF MOUNDS VIEW COUNTY OF RAMSEY STATE OF MINNESOTA RESOLUTION APPROVING THE APPOINTMENT OF THE ECONUNIIC; DEVELOPMEIVT COMMISSION ELECTED CHAIRPERSON WHEREAS, the Municipal Code Chapter 408.07, Subdivision 1 entitled Economic Development Commission, Organization states that "at the first regular meeting of the year, the Commission shall appoint a chairperson from among its voting members and that this appointment shall be subject to Authority approval and shall consist of a one year term"; and WHEREAS, through a unanimous vote of the Economic Development Commission members on January 26, 1995, Phil Seipp, President and CEO of SYSCO, was appointed Chairperson of the Economic Development Commission. NOW, THEREFORE, BE IT RESOLVED that the Economic Development Authority of the City of Mounds View hereby approves the appointment of Phil Seipp as Chairperson of the Economic Development Commission. ATTEST: (SEAL) Adopted this 13th day of February, 1995. President Executive Director 1 'iOtii'�DS VIE�'V E�ONOMIC DE�ELOPI�IENT ALT'I`HORI'TZ � � REQUEST FOR EDA C4NSIB�ER�TION ST:�FF REPORT � EDA �fEETIi�IG DATE February 13 1995 EDA Action: U Special Order of Business A�enda Section: 7.D ❑ Public F-iearin�s Reoor� Number: EDA-95-33C ❑ Consent ia�cncla � CDA Busincss Rcp��rt Daic: 2—g-95 I�cm Dcscrip�ioii: Consideration of Resolution No. 95—EDA22, Approving the Vision Statement fo Highwav 10 Corridor Executive Director's Review/Recommendat' . - No comments to suppieQ�ent this re rt � - Cunin�c;n�s attac:i��c1 Lxplanation/Sunin�arv �:uiach supplcmc:nt �heet� :u necessary� SUi�I;�LARY: EDC member and Highway 10 subcommittee memb�r, Ron Schmidt, presentecl a draft vision statement for Mounds View's Highway 10 Corridor at the February 6th work session. The vision statement is the t7rst step in the long term planning for the redevelapment of Highway 10. Developing a plan is in response to the Focus 2000 recommendation to improve the aesthetics and accessibility of Highway 10. As a result, the EDC establishec! a subcommittee to research and evaluate opportunities along Highway 10. The subcommittee currently consists of three members of the EDC, a member the Planning Comtnission and a member of the Parks and Recreatio❑ Commission. The vision statement was approved by the EDC on January 26, 1995 and the attached vision statement incorporates the minor revision that were recommended at the EDA's work session. The attached resolution approves the Vision Statement far Mounds View's Highway 10 Corridor and will provide a framework for the subcommittee to consider when they are developing a redevelopment plan f'or the corridor. Cathy Bennett, Economic Development Coordinator RECO��Iti1EVDATION: Ap�rove\Disapprove Resolution No. 95-EDC21 -- Vision Statement for the Highway l0 Corridor in Mounds View. � . ^_ _ _,._ , ; �._ : - � _ _ _ _ _ r __ _ _ _ ,. , 1 ', ; � ,, , � � � 1 I�ESOLUTION N�. 95-EDA22 CITY OF MOUNDS VIEW COUNTY OF RAMSEY STATE OF MINNESOTA RESOLUTION APPROVINC THE VISION STATEMENT FOR NIGHWAY 10 CORRIDOR IN MOUNDS VIEW WHEREAS, Focus 2000 stressed the importance of improving the aesthetics and accessibility of Highway 10; and WHEREAS, the Highway 10 subcommittee, consisting of three EDC members, a planning commission member and a parks and recreation commission member, developed a vision statement for Highway 10 Corridor; and WHEREAS, the Highway 10 Vision Statement reads as follows: Highway 10 in Mounds View is a cohesive planned corridor that provides convenient access for business opportunities and for goods, services and hospitality amenities. Highway 10 corridor incorporat�s a City Center that promotes essential services for its residents and a hub for commuters. Highway 10 is aesthetically pleasing with attractive landscaping, signage, streetscapes and storefronts. Highway 10 is the local and regional link to the greater Metro Area. WHEREAS, this vision statement has been reviewed and approved by the Economic Development Commission, who acts as an advisory commission to the Economic Development Authority (EDA). NOW, THEREFORE, BE IT RESOLVED that the Economic Development Authority of the City of Mounds View hereby approves the Vision Statement for Highway 10 Corridor in Mounds View as presented. ATTEST: (SEAL) Adopted this 13th day of February, 1995. President Executive Director t M�liNDS VIE�' ECONOMIC DEVELOPMEti'T AL7THORITY REQliEST FOR EDA CrJNSII3ERATION S'I'�FF REPORT EDA �1EETL'JG DATE_ February 13, 1995 EDA Action: ❑ Special Order of Business Abenda Section: 7. E ❑ Public Hearings Report Number: EDA-95-34C ❑ Consent Agencla Report Date: 2-8-95 [g CDA Busiucss Item Dcscrip�io�i: Consideration of Resolution No. 95—EDA23, �Supporting the Pursuit of a Smal �usiness Loan Pro�ram for Mounds View Businesses as Recommended by the EDC Exc:cutive Director's Review/Recommendatio • - No comments to suppleIIient tliis report - Cu�i�n�cnts a[tacl�ecl Lxpian.l[10Ii/SUnlAl.lry �attach suppl�m�nt sheets :u nccessary� SU�Ii�L-�RY: At the February 6, 1995 work session, EDC member Mark Malone, gave an overview of the Economic Development Corporation's recoinmendation to implement a small business loan program for Mounds View businesses. This recommendation was made as a result of reviewing current incentive programs available to local businesses and evaluating loan programs implemented in other metro cities. The EDC felt it was important to pi•ovide a program that would visibly benefit the enhancement of Mounds View's small businesses and would also seod a message to the businesses that their success is important to the overall prosperity of the City. In addition, the program fulfills one of the action steps of the Focus 2000 Implementation Plan for economic development. I have attached the basic para►neters of the proposed program which includes the goals, the eligibility requirements, qualifying improvements and the terms of the loan. In a nutshell, it is proposec] that the EDA provide.low interest loans, which will be matched by participating banks, to existing Mounds View husinesses for interior and exterior improvements. This type of arrangement will assist in modernizing and upgrading both exterior and interior existing struch�res and enhance both the businesses and the City's image. The attachecl resolution supports the concept of the loaa program and will enable the EDC and City staff to pursue the legal and tinancial structuring of the program. Once the legal and financial documents have heen prepared, the program will be brought to the EDA for tinal approval. Cathy Bennett, Economic Development Coordinator REC.011;�1 E�(DAT] O N: Approve\Disapprove Resolution No. 95-EDA22, siipporting the pursuit of a small business loan program for Mounds View's businesses. �_ �.�_� � fl _ _ L' _'_"h . "' - " ' , '_'_ _ _ _ . . '_ . "_'" _ ' �.r_..�: � a. : �_. �:, """.�. RESOLUTION NO. 95-EDA2.3 CITY OF MOUNDS VIEW COUNTY OF RAMSEY STATE OF MINNESOTA RESOLUTION SUPPORTING THE PURSUIT OF A SMALL BUSINESS LOAN PROGRAM FOR MOUNDS VIEW BUSINESSES WHEREAS, an action step of the Focus 2000 Implementation Plan recommends the development of incentive programs for business development; and WHEREAS, the Economic Development Commission has researched current incentives available to local businesses through federal, state and county programs and evaluated loan programs implemented by other similar metro area cities; and WHEREAS, the Economic Development Commission acts as an advisory commission to the Economic Development Authority (EDA) on matters that relate to fostering a positive economic climate, encouraging economic development, and enhancing the tax base of the City; and WHEREAS, the proposed program would provide existing businesses with low interest loans for interior and exterior improvements; and WHEREAS, the proposed program would enhance the prosperity of local businesses and the image of Mounds View. NOW, THEREFORE, BE IT RESOLVED that the Economic Development Authority of the City of Mounds View hereby supports the pursuit of a small business loan program as presented in the attached document. ATTEST: (SEAL) Adopted this 13th day of February, 1995. President Executive Director City of Mounds View Business Loan Program Draft 1\26\95 Goals of Program: Q To provide a matching business loan with a participating bank for exterior and interior improvements. Q To provide a loan program that is more attractive and marketable than a conventional bank loan. Q To provide a program geared to assist existing businesses thrive and prosper in the City of Mounds View. Q To provide a program to improve the aesthetics of the commercial, industrial and retail sectors of the community. Eligibility Requirements: Q Exiting Mounds View Business - 2 Years Minimum C✓1 Qualified small business Q Qualified Credit History Regular full loan request package required and will need to meet participating underwriting guide(ines. Q Loan must be used to improve the interior or exterior of existing faci(ity. Q lnterior and exterior improvements must conform to current zoning and City buifding codes and ordinances. Q Owner or officer of business must be the loan applicant. Qualified Improvements: Q Repair storefront entrances, windows, doors, decorative applications, etc. Q Upgrade interior design and configuration to enhance business. Q Paint, clean or stain interior and exterior of building. � Upgrade or replace existing business sign. L�1 New or upgraded landscaping to improve aesthetics of facility. 0 Parking lot reconfiguration or repair. 0 Required stormwater discharge improvements. 0 Upgrade facility to comply with American with Disabilities Act. Note: The improvements themselves may or may not qualify as colfateral for the loan. , ! �, Term of Loans: Q Flexible terms dependent upon use of loan funds. Q Loan is non-assumable. Q Maximum loan $50,000. Q Minimum loan $10,000. Interest Rate: 0 City participates at 50% of the total loan at a 2% interest rate. How to Apply: C�1 Call the City of Mounds View, Economic Development Coordinator for application at 784-3055. All applications must be approved by participating bank and City of Mounds View's Economic Development Authority and will require review of financial statements. r � 0 n x � m m � �. 0 � C7 N � w K f� � m � rt � m � c � � � 3 c� m ct N- � W z a � � d W fi (D � ro � n � x , � i y � � H �3 t�1 3 � �Ero c� � � ro c� �• n t� � (D N tD Ai K ct O M �t � F'• (D ri F� � � a rto � � rt � F.,. ct � o � � • �oN N N � � � (�D �D ro � � �, ��,a � � a ,� a ,� o fD � rr � rth O � � U� � rt fD � O N � � O (D F'• � �' �, �t � ID N • fD ,� � K � a z O � � � N O (D � rt� A� � �+ Q. N• � O � � N . C1, W roK F-� • � H a� �' a �D �. r• � �� , w ,,� fi m �, �. � �' x � �. rr N rt (D � 'L� ron �o K "CS U1 fD O ri � N f) O � F� r• G �� N�