RES 93-3 EDA RESOLUTION 93 - 3
A RESOLUTION FOR THE ECONOMIC DEVELOPMENT AUTHORITY
A RESOLUTION REQUESTING THAT THE TWIN CITIES-METRO
CERTIFIED DEVELOPMENT COMPANY EXTEND ITS SERVICE TERRITORY
TO INCLUDE THE CORPORATE LIMITS OF ELK RIVER, MINNESOTA
WHEREAS, the Twin Cities-Metro Certified Development Company
(TC-M CDC) is a private, not-for-profit organization
which pre-screens, packages, and processes Small
Business Administration 504 loans for businesses in
Hennepin, Ramsey, Washington, Carver, Scott, and
Dakota Counties, 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;
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
4111 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 TC-M CDC
does not exist in Elk River or in Sherburne County,
and;
WHEREAS, the Office of Management and Budget (OMB) recently
designated Sherburne County as part of the
Minneapolis-St. Paul Metropolitan Statistical Area
(MSA) .
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 . Given OMB's inclusion of Sherburne County into
the Minneapolis-St. Paul MSA, it is appropriate
to align said County with a multi-county
development organization.
. 3. It hereby requests that TC-M CDC provide SBA loan
processing to the City of Elk River.
4111
Passed and adopted by the Economic Development p t Authority of the
City of Elk River this 26th day of July, 1993.
4 A IllAr�e� on• .l , Pr-siden
ATTEST:
7.
XX,;(1P
Pa rick D. Klaers, Executive Director
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