HomeMy WebLinkAbout06-25-1997 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.
Members absent: Dan Nelson, Rosemary Goff, EDA Liaison Roger Stigney.
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
"housekeeping" 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 "Program Overview" for each
program.
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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 "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 "a" on page two of the
Resolution would be revised to delete the "reactivation" language, and to insert language
regarding the elimination of the two year "residency requirement" that was one of the original
eligibility criteria. It was further agreed that paragraph "b" 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 "Resolution Modifying The Business Improvement Partnership Loan
Program", and the eighth "Whereas" clause will be deleted, and the two subsequent clauses
will be changed to refer to "the continued availability" of low interest loan funds and the
"continuation 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 t Commission, this meeting of the Economic
Development Commission adjourne. a approximat- ':35 a.m.
R . .ectfully Su. 'tted,
4-vin Carroll
conomic De - .pment Coordi ator
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