HomeMy WebLinkAbout08-12-1996 uNAppRovE
1 PROCEEDINGS OF THE MOUNDS VIEW
gir 2 . ECONOMIC DEVELOPMENT AUTHORITY
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4 Meeting No,25
S August 12, 1996
6 Mounds View City Hall
7 2401 Hwy. 10,Mounds View MN 55112
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10 CALL TO OIWE$
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12 The Economic bevelopnient Authority was called to order by President Linke on August 12, 1996 at 9:28
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15 Ro.Lk cALh
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17 }I1F11 ,BJ S f'RBSEN'J• President,Jerry Linke,Vice President Phyllis Blanchard,Secretary;.Julie Trude;
18 Commissioner,Oary Quick, Commissioner Sue'Bankner, BcotioniicDevelopment Coordinator Cathy
19 Bennett; and Clerk Administrator Chuck Whiting.
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22 ;QTS pitESENT: None
23 A x'I ?'k► J 4E AGEIVD4:
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25Xv QT1QN/Sggi;:I D: Quick/Hankner to"Approve EDA Agenda as Presented.
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27 : 5 ayes 0 nays Motion Carried
29 APP,AQ,X41 ot sMIN111:17-$�
3�1 MOI'x,oNl�IgpQiqR Q.uick/Trude to table the approval of the minutes of the June 24, 1996 to allow
32 'a lequate'°time for review
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34 VQ' 5 ayes 0 nays Motion Carried
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38 There were no items placed on the Consent Agenda for this meeting.
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40 =PVVBLIC 1 Alt TGS
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42 There were no Public Hearings scheduled for this meeting. -.
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44 g VSIN S
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46 A. Consideration if Resolution No.96-EDA50,Approving Business Improvement Partnership Loan for
47" Mounds View Fina.
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49 Ms Bennett explained that the owners of Mounds View Fina have been in contact with Western Bank for
50 several months regarding the expansion of their gas station located at 2280 County.Road 1. Western,Bank
51 suggested they consider applying for the City's Business Improvement Partnership Program to finance part
52 of their expansion and remodel.
EDA E A aVleeting#25 ... ..
August 12, 1996
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1 Ms.Bennett noted that Mounds View Fide is now.fialiy approved by the City to construct a canopy and
2 they.are now in a position to request financial assistance from'the City to complete the remodeling and
• 3.. expansion of theirgas station. The applicant is requesting the maximum loan of$50,000. The City's
4 participation would be$25,000 at 2%fixed interest for ten years and W estern'-Bank's participation would
5 be,11%fixed interest for ten,years.
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7 Ms:Bennett explained that thisproject meets the goals:of the program by enhancing the aesthetics of the
8: property and improving the commercial tax base. The estimated total project costs is.about$222,000.
9 She noted that the applicant,is using several different sources to fund the project.
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11 ; MOTTQNi8gC(5Nf):-Hankner/Quick to approve Resolution 1No 96*EDASO,Approving Business ....
12 Improvement Partnership Loan-for Mounds View Fina.
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14 - VOTE 5 ayes 0 nays Motion Carried
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16 RE1O4TS
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2Q .,Report of President.Linke: .No report:
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22 '•Report of Vice President Bl; nohard: No report.
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24 Report of Secretary Trude No report. s<'
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2,6 . Report of-Commissioners:
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. . : 28 Commn)issioner Quick: Np report.
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30 Commissioner Hankner: No report.
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32 R$PQr't Qf tNf 9utf,'Q.Dijrgctpr: No report.
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34 Reniprt pf Iyae .ter: No report
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36 President.Linke adjourned.the meeting'at 9:33 p.m,
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38 Respectfully submitted,
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-42 Tajo 0 $aetke
43 Rec din ecre
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