HomeMy WebLinkAbout1995-EDC-12EDC RESOLUTION NO. 95-EDC12
RESOLUTION APPROVING THE ESTABLISHMENT OF A LOAN COMMITTEE
WHEREAS, per the Mounds View Municipal Code Chapter 408.09, section 0(12), the
Economic Development Commission shall have the power to appoint task forces of a size and nature it
may deem necessary, and
WHEREAS, the Economic Development Commission advises and makes recommendations to the
Economic Development Authority on matters pertaining to the economic development activities in the
City of Mounds View, and
WHEREAS, the Economic Development Commission reviews the applications for the Business
Improvement Partnership Loan provided by the City of Mounds View and makes recommendations for
approval/denial to the Economic Development Authority, and
WHEREAS, applications received for the Business Improvement Partnership Loan may not coincide
with the meeting dates for the EDC to allow a recommendation to be made prior to an EDA meeting,
and
WHEREAS, establishing a loan committee, consisting up of at least four EDC members, will allow
for a more expedient and business friendly process for approval/denial of Business Improvement
Partnership Loans, and
WHEREAS, the loan committee may discuss loan applications at a time convenient for at least four
EDC members either through a meeting or conference call, and
WHEREAS, loan applicants will still be required to present their proposal and gain approval/denial
from the EDA prior to issuance of a loan.
NOW, THEREFORE, BE IT RESOLVED THAT the Economic Development Commission hereby
approves the establishment of a loan committee to review applications received for the Business
Improvement Partnership Program.
Adopted by the Economic Development Commission of the City of Mounds View this
28th day of September, 1995.
ATTEST:
Chair nv
(SEAL)
Economic D4ejbptfient Coordinator