HomeMy WebLinkAbout1998-EDC-24MOUNDS VIEW ECONOMIC DEVELOPMENT COMMISSION
RESOLUTION NO. 98-EDC-24
CITY OF MOUNDS VIEW
COUNTY OF RAMSEY
STATE OF MINNESOTA
RESOLUTION MODIFYING THE BUSINESS IMPROVEMENT PARTNERSHIP LOAN
PROGRAM
WHEREAS, on February 13, 1995 the Economic Development Commission adopted a
Resolution supporting the pursuit of a business loan program ; and
WHEREAS, on May 25, 1995 the Economic Development Commission adopted a Resolution
approving funding for the business loan program for 1995 and 1996; and
WHEREAS, on June 25, 1995 the Economic Development Authority adopted a Resolution
approving the business loan program; and
WHEREAS, the stated purpose of the business loan program was to Α[help] Mounds View
businesses thrive and prosper while improving the aesthetics of the commercial, industrial and
retail sectors of the community;≅ and
WHEREAS, the types of improvements eligible for the loan program included: repairing
storefronts, windows, doors, etc.; upgrading interior design and configuration; painting, cleaning
or staining the interior or exterior of a building; upgrading or replacing an existing business sign;
new or upgraded landscaping; parking lot redesign or repair; stormwater discharge
improvements; and ADA compliance upgrades; and
WHEREAS, during 1995 and 1996 a total of three loans of $25,000.00 each were approved
pursuant to the business loan program, each of which resulted in significant improvements to the
visual aesthetics and/or operational efficiency of the businesses receiving the loans; and
WHEREAS , each of the three loan recipients has made all of the required loan payments in full
and on time; and
WHEREAS, the continued and or improved availability of low interest loan funds could prompt
some businesses in Mounds View to make improvements that might not otherwise be made, and
that said improvements could improve the appearance of Mounds View=s commercial district
and enhance its tax base; and
WHEREAS, the continuation and refinement of the business loan program would demonstrate to
Mounds View=s businesses and residents the City=s commitment to improving the local
business climate;
NOW THEREFORE, BE IT RESOLVED that the Economic Development Commission of the
City of Mounds View hereby recommends that the Economic Development Authority:
a. Approve the elimination of the current requirement that a business be located in
Mounds View for at least two years before being eligible for the program.
B.
Adopted this 28th day of May, 1998.
ATTEST:
(SEAL) City Adm
MOUNDS VIEW ECONOMIC DEVELOPMENT COMMISSION
RESOLUTION NO. 98-EDC-24
CITY OF MOUNDS VIEW
COUNTY OF RAMSEY
STATE OF MINNESOTA
RESOLUTION RECOMMENDING THE REACTIVATION OF THE BUSINESS IMPROVEMENT
PARTNERSHIP LOAN PROGRAM
WHEREAS, on February 13, 1995 the Economic Development Commission adopted a
Resolution supporting the pursuit of a business loan program ; and
WHEREAS, on May 25, 1995 the Economic Development Commission adopted a Resolution
approving funding for the business loan program for 1995 and 1996; and
WHEREAS, on June 25, 1995 the Economic Development Authority adopted a Resolution
approving the business loan program; and
WHEREAS, the stated purpose of the business loan program was to "[help] Mounds View
businesses thrive and prosper while improving the aesthetics of the commercial, industrial and
retail sectors of the community;" and
WHEREAS, the types of improvements eligible for the loan program included: repairing
storefronts, windows, doors, etc.; upgrading interior design and configuration; painting, cleaning
or staining the interior or exterior of a building; upgrading or replacing an existing business sign;
new or upgraded landscaping; parking lot redesign or repair; stormwater discharge
improvements; and ADA compliance upgrades; and
WHEREAS, during 1995 and 1996 a total of three loans of$25,000.00 each were approved
pursuant to the business loan program, each of which resulted in significant improvements to
the visual aesthetics and/or operational efficiency of the businesses receiving the loans; and
WHEREAS, each of the three loan recipients has made all of the required loan payments in full
and on time; and
WHEREAS, no business loans have been sought or granted since August of 1996, nor has the
business loan program been actively marketed or publicized since that time, despite the fact
that funds have been annually budgeted for the program; and
WHEREAS, the availability of low interest loan funds could prompt some businesses in Mounds
View to make improvements that might not otherwise be made, and that said improvements
could improve the appearance of Mounds View's commercial district and enhance its tax base;
and
WHEREAS, the reactivation of the business loan program would demonstrate to Mounds
View's businesses and residents the City's commitment to improving the local business climate;
NOW THEREFORE, BE IT RESOLVED that the Economic Development Commission of the
City of Mounds View hereby recommends that the Economic Development Authority:
a. approve the reactivation of the Business Improvement Loan Program, and
B. authorize the funding of business improvement loans in a total amount not to
exceed the $45,000.00 that was budgeted for such loans for 1998.
ATTEST:
(SEAL)
Adopted this 28th day of -{Way; 1998.
Chair
City Administrator