RES 93-2 4111 EDA RESOLUTION 93 - 2
A RESOLUTION FOR THE ECONOMIC DEVELOPMENT AUTHORITY
A RESOLUTION REQUESTING THAT THE COON RAPIDS DEVELOPMENT
COMPANY EXTEND ITS SERVICE TERRITORY TO INCLUDE THE CORPORATE
LIMITS OF ELK RIVER, MINNESOTA
WHEREAS, the Coon Rapids Development Company (CRDC) is a
private, not-for-profit organization which
pre-screens, packages, and processes Small Business
Administration 504 loans for businesses in Anoka
County, and;
WHEREAS, in 1992, the CRDC Shareholders approved a change in
its by-laws which enables CRDC to provide SBA loan
processing to other communities upon request, and;
WHEREAS, the Economic Development Authority for the City of Elk
River (EDA) is a public body corporate and politic
that possesses the powers necessary or convenient to
carry out the objectives of pro-active economic
development as provided by Minnesota Statute, and;
4111 WHEREAS, a fundamental objective of the Elk River EDA is to
provide financing assistance to support the expansion,
consolidation, or relocation plans of small businesses
in the community, and;
WHEREAS, a primary financing program to support this objective
is the SBA 504 loan program, and;
WHEREAS, a not-for-profit organization similar to the CRDC does
not exist in Elk River or in Sherburne County.
NOW, THEREFORE, BE IT RESOLVED by the Economic Development
Authority for the City of Elk River:
1. That it supports the goal of providing small
businesses in Elk River with improved access to
SBA loan programs.
2 . It hereby requests that the CRDC provide SBA loan
processing to the City of Elk River.
SPassed and adopted by the Economic Development Authority of the
City of Elk River this 8th day of March, 1993.
Je
AM
0 AIL
G•ngo Pres dent
ATTEST:
Patrick D. Klaers, Executive Director
4111
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