7.1. EDSR 02-16-2021 City of
Elk = Request for Action
Diver
To Item Number
Economic Development Authori 7.1
Agenda Section Meeting Date Prepared by
General Business February 16, 2021 Colleen Eddy, Economic Development Director
Item Description Reviewed by
Support for Sportech LLC's Job Creation Fund Cal Portner, City Administrator
Grant Application Reviewed by
Action Requested
Recommend,by motion,that the city council adopts approval of the resolution of support for Sportech
LLC's Job Creation Fund UCF) grant application.
Background/Discussion
Sportech,LLC is a wholly owned subsidiary of Monomoy Capital Partners, a national private equity firm with
manufacturing assets across the country. The applicant proposes to construct a 91,000 sq ft expansion to
their existing facility located at 10752 168`'' Circle NW, Elk River. The added space is expected to account for
55 new jobs and a $2.3 million equipment investment.
The project is proposed to result in an increase in local tax base,provide a direct increase in well-paying local
jobs, as well as an increase in indirect and induced jobs in the local economy. The project will result in the
retention of Sportech's existing operations within the city,as well as encourage future growth within the city
and state,as opposed to the relocation of operations to one of several out-of-state locations. Sportech has
indicated that local and state participation is vital to the project occurring at this location in the reasonably
foreseeable future.
At the January 26, 2021 Joint Finance Committee meeting, the committee recommended approval of the
letter of support for the Sportech JCF Grant Application. The application requires support from the city,
in the form of a resolution.
Financial Impact
N/A
Mission/Policy/Goal
The purpose of the RLF is to provide financial and technical assistance for the creation and retention of
new employment.
Attachments
■ Resolution of Support
■ January 26, 2021,Joint Finance Committee Meeting Packet
The Elk River Vision
A Y�elcoming community nvith revolutionary and spirited resourcefulness, exceptional P U W E H E o s r
service, and community engagement that encourages and inspires prosperity ,g /` UR
City of
Elk
''�-- City of Elk River
River City Council
Resolution 21-
A Resolution of the City Council of the City of Elk River Regarding the
Support of a Job Creation Fund Application in Connection
with Sportech, LLC
WHEREAS, the City of Elk River,Minnesota (the "City"),desires to assist Sportech,LLC,
a limited liability company,which is proposing to construct an approximately 91,050 square
feet expansion to its existing facility located in the City consisting of office and
manufacturing space (the "Project"); and,
WHEREAS, the City of Elk River understands that Sportech,LLC, through and with the
support of the City,intends to submit to the Minnesota Department of Employment and
Economic Development an application for an award and/or rebate from the Job Creation
Fund Program; and,
WHEREAS, the City of Elk River held a city council meeting on February 16, 2021 to
consider this matter.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Elk
River,Minnesota, that, after due consideration, the City Council of the City,hereby adopts
the following findings of fact related to the project proposed by Sportech,LLC, and its
application for an award and/or rebate from the Job Creation Fund Program ("JCF") and
express their approval.
1. The Developer has represented that with assistance it will locate the Project in the City
and cause the creation of new jobs in the City. The City finds that the Project is in the public
interest because it will encourage the growth of commerce and industry,prevent the
movement of current or future operations to locations outside Minnesota,result in increased
employment in Minnesota,preserve or enhance the state and local tax base,provide a direct
increase in good paying local jobs, as well as an increase in indirect and induced jobs in the
local economy. The project will result in the retention of Sportech's existing operations
within the City, as well as encourage future growth within the City and State, as opposed to
the relocation of operations to one of several out-of-state locations.
2. Based on the Developer's request for JCF funding and the City's understanding that the
Project would not be located within in the City if such funding assistance is not granted, the
City finds that the Project would not reasonably be expected to occur solely through private
investment within the reasonably foreseeable future.
UREJ
This finding is based on representations of Sportech,LLC, that it is a wholly owned
subsidiary of Monomoy Capital Partners, a national private equity firm with manufacturing
assets across the country that has multiple options to relocate this facility, and/or expand at
any number of its nationwide facilities and/or adjacent locations. In addition,the City has
relied on representations of Sportech,LLC,that local and state participation is vital to the
Project occurring at this location in the reasonably foreseeable future.
3. Because the Project fits within the city's adopted Comprehensive Land-Use Plan and is
permitted in the proposed location through a conditional use permit,the City finds that the
proposed project conforms to the general plan for the development or redevelopment of the
City as a whole.
4. Because the Project fulfills needs outlined in both the city's Comprehensive Plan, as well
as the Economic Development Authority's Strategic Plan, the City finds that the proposed
project will afford maximum opportunity, consistent with the sound needs of the City as a
whole, for the redevelopment or development of the project by private enterprise. Growth
of both good paying manufacturing jobs, as well as commercial/industrial tax base growth
which will result from this Project are indicated priorities of both the City's economic
development authority, as well as the City Council.
5. City staff is authorized to undertake all necessary steps to implement this resolution and
apply for JCF funds.
Passed and adopted this 16`'day of February,2021.
John J. Dietz,Mayor
ATTEST:
Tina Allard, City Clerk
UREJ
Meeting
of the
Joint Finance
Committee
AGENDA
Tuesday, January 26, 2021
7:30 a.m.
Elk River City Hall
Upper Town Conference Room
1. CALL MEETING TO ORDER
2. CONSIDER AGENDA
3. CONSENT AGENDA
Considered to be routine and noncontroversial by the Economic Development Finance Committee and will be approved by one
motion. There will be no separate discussion of these items unless a Committee member, staff member, or citizen so requests, in
which case the item will be removed from the consent agenda and considered under the regular agenda.
3.1 December 29, 2020 Meeting Minutes
3.2 Revolving Loan Fund Balance Report
4. GENERAL BUSINESS
4.1 Resolution regarding the support of a Job Creation Fund Application in
connection with Sportech, LLC.
4.2 COVID Small Business Emergency Loan Application – Mystery Chambers
5. ANNOUNCEMENTS
6. ADJOURNMENT
Meeting Protocol
No sidebar discussions
No interruptions
State your concern
Ensure you understand
Don’t take things personally
Adhere to time limits
Come prepared
Ensure all are heard
Meeting of the Elk River Joint Finance Committee
Held at Elk River City Hall
Tuesday, December 29, 2020
Members Present: Ryan Hardin (via phone), Charlie Blesener, Rhonda Magnussen (via phone),
Dan Tveite and Larry Toth
Members Absent: Chad Vitzhum and Nate Ovall
Staff Present: Colleen Eddy, Economic Development Specialist and Zack Carlton,
Planning Manager
Others Present: Mikaela Huot, Baker Tilly and applicant Pat Briggs, Sun Rae Apartments
LLC
1. Call Meeting to Order
Pursuant to due call and notice thereof, the meeting of the Elk River Joint Finance
Committee was called to order by Dan Tveite at 7:37 a.m.
2. Consider Agenda
Motion by Toth and seconded by Blesener to approve the Joint Finance Committee
agenda. Motion carried 5-0.
3. Consent Agenda
Motion by Blesener and seconded by Toth to approve the November 24, 2020 Joint
Finance Committee meeting minutes. Motion carried 5-0.
4.1 Riverwalk Apartments Proposed Redevelopment TIF Application
Ms. Eddy presented the staff report.
Ms. Huot presented the updated financial analysis. The application was reviewed at the
September 29, 2020 Joint Finance Committee. With the site improvements, land acquisition
price and an appraisal received, Baker Tilly updated the financial analysis. The city’s policy
calls for 15 years TIF, the applicant is requesting 26 years, questions were raised by Member
Tveite, has the city ever gone past the 15 years and are there unique circumstances of this
property that would warrant going beyond the 15 years? The applicant is asking for 26 years
of TIF, but stated he needs 20 years to get the project completed. The city has never
exceeded 15 years of TIF. The committee discussed what makes this property and project
unique; the property has sat for over 10 years, it is an eye sore to the entry of Elk River from
Hwy 10 and is an image issue.
Consensus of the JFC was to recommend to the EDA a 20-year rolling TIF district
with a maximum of 26 years, with a precise TIF Development Agreement which will
act as the enforcement tool for the city. As the 20-years is in fact going against the
city’s policy.
5.1 Announcements
No announcements
6. Adjournment
There being no further business, Mr. Tveite adjourned the meeting at 8:45 a.m.
Minutes prepared by Colleen Eddy.
_____________________
Tina Allard
City Clerk
___________________
Cal Portner
EDA Executive Director
ELK RIVER ECONOMIC DEVELOPMENT AUTHORITY
MICRO LOANS
Current Current 1/15/21
Loan Loan Interest Term Monthly Principal
Borrower Date Amount Rate (Months)Payment Outstanding Current
Die Concepts 6/3/2016 $185,200 2.00%60 $936.90 $149,701.98 Y
Heritage Millwork 12/22/2016 $100,000 3.00%60 $965.61 $63,628.13 Y
Ralphies#1 9/10/2013 $74,999 3.00%120 $724.20 $22,437.65 Y
Ralphies#2 8/28/2018 $19,175 3.00%60 $343.65 $10,900.71 Y
Distinctive Iron 10/1/2019 $100,000 3.00%60 $554.60 95,350.17 Y
TOTAL MICRO LOANS $342,018.64 Micro Loan Fund 240
Distinctive Iron 10/1/2019 $126,000 2.03%60 $1,050.07 84,432.75$ Y
Scott Morrell LLC 8/6/2015 $200,000 2.00%60 $1,011.77 153,415.81 Y 5-Year Balloo
Orluck 7/17/2018 $200,000 3.00%84 $2,642.66 135,638.32 Y
$373,486.88 DEED Jobs Incentive Loan Fu
Fund Cash Balances 1/15/21:
Micro Loan Fund - 240 $830,631.13
State DEED Jobs Incentive - 242 $158,089.05
on is up
und 242
The Elk River Vision
A welcoming community with revolutionary and spirited resourcefulness, exceptional
service, and community engagement that encourages and inspires prosperity
Request for Action
To
Joint Finance Committee
Item Number
4.1
Agenda Section
General Business
Meeting Date
January 26, 2021
Prepared by
Colleen Eddy, Economic Development Director
Item Description
Job Creation Fund Application for Sportech, LLC
Reviewed by
Cal Portner, City Administrator
Reviewed by
Action Requested
Review resolution and provide a recommendation to the Economic Development Authority for Sportech
LLC’s Job Creation Fund Application.
Background/Discussion
Sportech, LLC is a wholly owned subsidiary of Monomoy Capital Partners, a national private equity firm with
manufacturing assets across the country. They intend to apply to the Minnesota Department of Employment
and Economic Development for an award and/or a rebate from the Job Creation Fund Program.
The applicant proposes to construct a 91,000 sq ft expansion to their existing facility located at 10752 168th
Circle NW, Elk River. The added space is expected to account for 55 new jobs and a $2.3 million equipment
investment. They have indicated that local and state participation is vital to the project occurring at this
location in the reasonably foreseeable future.
The project is proposed to result in an increase in local tax base, provide a direct increase in well-paying local
jobs, as well as an increase in indirect and induced jobs in the local economy. The project will result in the
retention of Sportech’s existing operations within the city, as well as encourage future growth within the city
and state, as opposed to the relocation of operations to one of several out-of-state locations.
The application requires support from the city, in the form of a resolution.
Financial Impact
N/A
Mission/Policy/Goal
The purpose of the RLF is to provide financial and technical assistance for the creation and retention of
new employment.
Attachments
Resolution of Support
CITY OF ELK RIVER, MINNESOTA
RESOLUTION NO. <<INSERT>>
RESOLUTION REGARDING THE SUPPORT OF A JOB CREATION FUND APPLICATION IN
CONNECTION WITH SPORTECH, LLC.
WHEREAS, the City of Elk River, Minnesota (the “City”), desires to assist Sportech, LLC., a limited liability
company, which is proposing to construct a facility in the City; and,
WHEREAS, the City of Elk River understands that Sportech, LLC, through and with the support of the
City, intends to submit to the Minnesota Department of Employment and Economic Development an
application for an award and/or rebate from the Job Creation Fund Program; and,
WHEREAS, the City of Elk River held a city council meeting on <<date>>, to consider this matter.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF ELK RIVER,
Minnesota, that, after due consideration, the Mayor and Administrator of the City of Elk River, Minnesota,
hereby adopts the following findings of fact related to the project proposed by Sportech, LLC. and its
application for an award and/or rebate from the Job Creation Fund Program and express their approval.
The City Council hereby finds and adopts the reasons and facts supporting the following findings of fact
for the approval of the Job Creation Fund Program application:
1. Finding that the project is in the public interest because it will encourage the growth of commerce and
industry, prevent the movement of current or future operations to locations outside Minnesota, result in
increased employment in Minnesota, and preserve or enhance the state and local tax base
The project will result in an increase in local tax base, provide a direct increase in good paying local jobs,
as well as an increase in indirect and induced jobs in the local economy. The project will result in the
retention of Sportech’s existing operations within the city, as well as encourage future growth within the
City and State, as opposed to the relocation of operations to one of several out-of-state locations.
2. Finding that the proposed project, in the opinion of the City Council, would not reasonably be expected
to occur solely through private investment within the reasonably foreseeable future.
Sportech, LLC. is a wholly owned subsidiary of Monomoy Capital Partners, a national private equity firm
with manufacturing assets across the country. The company has multiple options to relocate this asset,
and/or expand at any number of its nationwide facilities and/or adjacent locations. It has been indicated
that local and state participation is vital to the project occurring at this location in the reasonably
foreseeable future.
3. Finding that the proposed project conforms to the general plan for the development or redevelopment
of the City as a whole.
The project fits within the city’s adopted Comprehensive Land-Use Plan and is permitted in the proposed
location through conditional use permit.
4. Finding that the proposed project will afford maximum opportunity, consistent with the sound needs of
the City as a whole, for the redevelopment or development of the project by private enterprise.
The project fulfills needs outlined in both the city’s Comprehensive Plan, as well as the Economic
Development Authority’s Strategic Plan. Growth of both good paying manufacturing jobs, as well as
commercial/industrial tax base growth are indicated priorities of both the local economic development
authority, as well as the City Council. Through the fulfillment of these objectives, the proposed project
affords maximum opportunity and is consistent with the sound needs of the city as a whole.
Sworn and Executed Under My Hand this ___ day of ________________, 2021.
The Elk River Vision
A welcoming community with revolutionary and spirited resourcefulness, exceptional
service, and community engagement that encourages and inspires prosperity
Request for Action
To
Joint Finance Committee
Item Number
4.2
Agenda Section
General Business
Meeting Date
January 26, 2021
Prepared by
Colleen Eddy, Economic Development Specialist
Item Description
COVID-19 Small Business Emergency Microloan
Application
Reviewed by
Cal Portner, City Administrator
Reviewed by
Action Requested
Review the COVID-19 Small Business Emergency Microloan Application for Mystery Chambers and approve
or deny.
Background/Discussion
Mystery Chambers submitted a COVID-19 Small Business Emergency Microloan Application. They are
requesting $16,000 to offset costs associated with the Governor’s Executive Orders 20-04 and 20-08.
The EDA approved the program in response to the COVID-19 pandemic and provides for a $20,000
forgivable loan for those affected by the executive orders.
Mystery Chambers was closed with the original order and were only able to later open with strict limitations.
They are projecting to utilize the requested funds to offset lease, utilities, operating and advertising expenses.
A complete application and all supporting documentation was submitted and they are an eligible business type
noted in Executive Orders 20-04 and 20-08. The applicant is not in violation of any city codes, ordinances,
licensing requirements or delinquent taxes, bills, or charges due to the city.
Financial Impact
The EDA allocated funding of up to $200,000 for this program from the general microloan fund account. The
total funds disbursed as of December 16, 2020 were $97,374.00, of which $37,374 is currently forgivable. The
Microloan fund balance is about $828,000.
Attachments
COVID-19 Small Business Emergency Microloan Program
Application and Review Worksheet
13065 Orono Parkway
Elk River, MN 55330
763.635.1000
ElkRiverMN.gov
COVID-19 Small Business
Emergency Microloan Program
2 | Page
COVID-19 Small Business Emergency Microloan Program
Purpose
The City of Elk River Economic Development Authority (EDA) has developed the small business
emergency assistance microloan program to provide financial assistance to locally owned and operated
businesses adversely impacted by the COVID-19 pandemic.
Eligibility
The COVID-19 Small Business Emergency Microloan Program is available to locally owned and
operated small businesses located within the City of Elk River.
1. Eligible business types include locally owned and operated businesses noted in
Executive Orders 20-04 and 20-08, including but not limited to:
a. Restaurants, cafes, coffeehouses, and other places of public accommodation
offering food or beverage for on-premises consumption
b. Taverns, brew pubs, microbreweries, distilleries, wineries, tasting rooms and
other places of public accommodation offering alcoholic beverages for on-
premises consumption
c. Gymnasiums, fitness centers, indoor sports facilities, indoor exercise facilities,
exercise studios, businesses offering massage therapy or similar body work,
spas, salons, nail salons, cosmetology salons and barber shops. This includes,
but is not limited to, all salons and shops licensed by the Minnesota Board of
Cosmetologist Examiners and the Minnesota Board of Barber Examiners.
d. Art and music studios
e. Bowling alleys, skating rinks and other similar recreational or entertainment
facilities
f. Other businesses deemed nonessential under executive orders adopted by the
Governor of the State of Minnesota
g. Other businesses as approved by the EDA
2. The business must have been in operation prior to the Governor’s Executive Order
3. Be a legal entity registered with the Office of the Minnesota Secretary of State and be
in good standing
4. Be a conforming or legally nonconforming use under the current city zoning
regulations of the city
5. Not be in violation of the city’s zoning code
6. Be in compliance with city ordinances, codes, licensing, and must not have any
delinquent taxes, bills, or other charges due to the city
Amount: Up to $20,000 Loan
Up to $5,000 in Property Tax Relief
Application Fee: Waived
Equity: None
Rate: Fixed at 0%
Term: Loans will be payable over 5 years and will be amortized over a period of 10 years.
3 | Page
Payment: Loan is deferred for 6 months upon approval of the loan agreement.
Forgivable: Up to $5,000 is eligible for forgiveness for property tax relief for taxes payable in 2020.
Lease or ownership documentation is required. Forgiveness for property tax relief will be granted if
the Borrower has met the reporting requirements listed below.
Extension: In the event the Borrower is unable to obtain conventional financing to replace the
Microloan at the end of five years, the loan may be extended up to two additional years at a market
rate of interest.
Collateral: Loans must be supported by sufficient collateral, which will include personal guarantees
and/or corporate guarantees.
Supporting Documentation:
1. Proof of ownership or signed lease.
2. Proof of submittal, acceptance, approval and/or denial of SBA and DEED loan
applications (not absolutely required)
3. Copy of page from business’s most recent federal tax return indicating gross receipts or
sales
4. A W-9 form (with signature)
5. Other supporting documentation you wish to provide to the EDA to assist in
understanding the applicant’s situation.
6. Narrative descriptions and estimated calculations of the negative impacts on the business
due to COVID-19
7. Description of costs to be paid with the proceeds of the loan
8. Narrative description of the plans for resuming operations following the COVID-19
crisis
Permitted Fund Uses:
Awarded funds may be used exclusively for current payroll obligations (may not include employees
who have been laid off), lease or mortgage payments, utilities, accounts payable, property taxes and
other critical business expenses that can’t be paid as a direct result of the COVID-19 pandemic.
Awarded funds may not be used for business owner’s/manager’s personal uses or expenses.
Ineligible Fund Uses:
Assistance cannot be provided to businesses or nonprofits that:
1. Do not have a physical business address within the City of Elk River
2. Are home-based businesses
3. Derive income from passive investments without operational ties to operating businesses
4. Primarily generate income from gambling activities
5. Generate any part of its income from adult-oriented or tobacco/vaping-related activities
6. Have no current or historical financial statements
7. Previously received emergency funds from the EDA
Fund Availability:
4 | Page
Funds are granted on a first come, first serve basis and will be provided until the funds are exhausted
or the city-declared state of emergency declaration is lifted, whichever comes first.
Reporting:
As a condition for receiving funding, all recipients are required to submit a brief report to the EDA
within sixty (60 days of receiving funds, specifying how the funds were used and providing evidence
in the form of paid invoices, statements or similar documentation.
5 | Page
COVID-19 Small Business Emergency Microloan
Program Application
Applicant Information
DBA - Legal Name of the Business: _______________________________________________
Sole Proprietorship Partnership Corporation LLC
Length of Time in
Business
Years
Months
Fed
Tax Id#
MN State
License
Mailing Address City Zip
Location Address City Zip
Business Phone ( ) Business Fax ( )
E-Mail Address Web Address
Contact Name Title
Is your business
currently registered
with the Minnesota
Secretary of State?
Is your business
currently in good
standing with the
Minnesota
Secretary of State?
Amount of Funding
Requested
$______ - Loan
$_______ -
Forgivable Loan
(Property Tax Relief)
Total number of employees: _______
The number of your employees
who have been impacted by the
Governor’s Executive Orders? _______
Was your business subject to the Governor’s Executive Orders 20-04 and 20-08? How has
the Governor’s Executive Orders financially affected your business?
6 | Page
For what purpose will these funds be used? Please include proposed expenses up to the
total funding request. (For example: lease expenses for June ($2,000), payroll for
employees, utilities, etc).
Describe plans for resuming operations following the COVID-19 crisis.
Principal #1
Name
Address City ZIP
Percentage of Ownership ______%
Principal #2
Name
Address City ZIP
Percentage of Ownership ______%
Primary Lender
Name Phone Ref#
Address Fax
Contact Title
7 | Page
Eligible Applicants
All eligible business categories must be referenced in Governor Walz’s Executive Orders
(EO 20-04 and EO 20-08).
Must have a physical, commercial location, whether owned or leased, that is located in city
limits of Elk River, MN.
Must be registered with the Minnesota Secretary of State.
Must be current with Sherburne County property taxes.
Application Requirements
The "COVID-19 Small Business Emergency Microloan Program" application must be
completed in its entirety by the applicant and submitted to:**
City of Elk River
13065 Orono Parkway
Elk River, MN 55330
Electronic submissions are also accepted to aothoudt@elkrivermn.gov
All loans will be subject to the EDA’s COVID-19 Small Business Emergency Microloan
Program.**
Applications will be considered on by the Joint Finance Committee and acted on by the
EDA.**
The most recent federal tax return filed by the business indicating gross receipts of sales.
Income statements and balance sheets for the past year or current within 90 days, if the
business has been in business less than one year.
Proof of ownership or signed lease.**
Proof of submittal, acceptance, approval and/or denial of SBA and DEED loan applications
(not absolutely required).
A W-9 form (with signature).**
Other supporting information requested from staff to review eligibility.**
If funds are awarded, a brief report to the EDA within two months after receiving funds,
specifying how the funds were used and providing evidence in the form of paid invoices,
statements or similar documentation.**
**Only needed for property tax relief
Applicant Acknowledgement:
The applicant shall hold the EDA, its officers, consultants, attorneys, and agents harmless
from any and all claims arising from or in connection with the COVID-19 Small Business
Emergency Microloan Program or its application, including but not limited to, any legal or
actual violations of any state or federal laws.
The applicant recognizes and agrees that the EDA retains absolute authority and discretion
to decide whether or not to accept or deny any particular application, and that all
expenditures, obligations, costs, fees, or liabilities incurred by the Applicant in connection
with the application are incurred by the applicant at its sole risk and expense.
8 | Page
The applicant acknowledges that they have read the COVID-19 Small Business Emergency
Microloan Program guidelines and understands that if the application is approved for
funding, loan funds awarded must only be used to pay eligible expenses.
Data Privacy Notice: The city and the EDA are subject to Minnesota Statutes Chapter 13 (the
“Minnesota Government Data Practices Act”). The application shall become the property of the city
and/or EDA and is subject to the Minnesota Government Data Practices Act.
LOAN PROGRAM POLICY
AUTHORIZATION FOR RELEASE OF INFORMATION
I declare that the information provided in this application and on the accompanying exhibits is true and complete to the best of my knowledge. I agree to be bound by all terms and conditions of the COVID-19 Small Business Emergency Microloan Program. The City of Elk River Economic Development Authority has the right to verify any information contained in this application, including credit reports on the individuals and the business, and may contact any individuals and institutions involved with the proposed project. The lenders named herein have the right to share information with the EDA, its Finance Committee and boards as is necessary to approve the application for its loan funds.
Signature/Title of Applicant: ___________________________________Date: ___________
Signature/Title of Applicant: _______________________ ____________Date: ___________
Applicants are encouraged to review the Governor’s Executive Orders 20-04 and 20-08 for
further definition and clarification of businesses that are or are not eligible for this COVID-
19 Small Business Emergency Microloan. The EDA retains final authority to determine if a
business is eligible or not, and whether to approve a loan or not.
For questions, call 763.635.1042 or cell at 763.218.2766 or email aothoudt@elkrivermn.gov.
COVID-19 Small Business Emergency Microloan Program
Policy History
Adopted by: On (date) Item #
EDA 5/18/2020 7.2