HomeMy WebLinkAbout06-25-1998
Minutes of the Economic Development Commission
City of Mounds View
Ramsey County, Minnesota
Regular Meeting
June 25, 1998
City of Mounds View, Conference Room C
2401 Highway 10, Mounds View, MN 55112
1. CALL TO ORDER:
The meeting was called to order at 7:35 a.m. by Chairperson, Cindy Carlson.
2. ROLL CALL:
Members present: Cindy Carlson, Ron Schmidt, Tom Field, and Brian Sjoberg.
Staff present: Housing Inspector Steve Dorgan and Economic Development
Coordinator Kevin Carroll.
3. APPROVAL OF MINUTES:
Motion/Second: Sjoberg/Field to approve the minutes from May 28, 1998.
Motion Carried 4 Ayes 0 Nays
4. SPECIAL BUSINESS
None.
5. EDC BUSINESS
A. Discussion of Home Improvement Loan Subsidy Program.
EDC members reviewed and discussed Housing Inspector Dorgan’s proposed final
drafts of the guidelines for the two interest subsidy programs. It was noted that
although both programs refer to a maximum loan amount, neither program refers to
a minimum loan amount. Staff was directed to insert a reference to the fact that the
minimum loan amount would be $3000.00 for each of the two programs. Chair
Carlson had some additional minor changes of a Αhousekeeping≅ nature that she
discussed with Mr. Dorgan prior to the meeting.
With respect to the proposed Resolution, it was suggested that additional language
be inserted to emphasize the fact that there are TWO separate loan subsidy
programs, and to explain the rationale or need for two such programs, and to clarify
the distinctions between them. That additional explanatory language could also be
added to the Α Program Overview for each program.
APPROVED
Motion/Second: Schmidt/Field to approve Resolution No. 98-EDC-25, with the
understanding that staff will amend the Resolution in a manner consistent with the EDC’s
discussion of desired revisions.
Motion Carried 4 Ayes 0 Nays
B. Consideration of Business Improvement Partnership Loan Program
EDC members reviewed and discussed Economic Development Coordinator Carroll’s
Memo and additional background information. It was suggested that a Resolution
Α reactivating the loan program may not be required, but that a Resolution modifying the
program in certain respects might be appropriate. It was decided that paragraph Αa≅ on
page two of the Resolution would be revised to delete the Αreactivation≅ language, and to
insert language regarding the elimination of the two year Αresidency requirement≅ that
was one of the original eligibility criteria. It was further agreed that paragraph Αb≅ of the
proposed Resolution would be revised to eliminate references to the 1998 funding amount.
New language will be inserted, emphasizing the fact that in order to ensure and/or
increase participation in the Program, loans will be reviewed and approved in a manner
consistent with staff guidelines regarding matters such as confidentiality of applicants=
financial information, intended use of loan proceeds, etc. The caption of the Resolution will
also be changed to ΑResolution Modifying The Business Improvement Partnership Loan
Program, and the eighth Α whereas clause will be deleted, and the two subsequent clauses
will be changed to refer to Αthe continued availability≅ of low interest loan funds and the
Αcontinuation of the business loan program.≅
Motion/Second: Sjoberg/Schmidt to approve Resolution No. 98-EDC-24, with the
understanding that staff will amend the Resolution in a manner consistent with the
EDC’s discussion of desired revisions.
Motion Carried 4 Ayes 0 Nays
6. REPORTS FROM CHAIR, COMMISSIONERS, AND STAFF:
Economic Development Coordinator Carroll provided a brief update regarding the
Mermaid Hotel/Conference project.
7. ADJOURNMENT
There being no further business before the Commission, this meeting of the
Economic Development Commission adjourned at approximately 8:35 a.m.
Respectfully Submitted,
Kevin Carroll
Economic Development Coordinator