06-15-2020 JOINT FINANCE COMMITTEE PACKET1
Dan Tveite Statement and Determination, as President of the The Economic Development
Authority for the City of Elk River Minnesota Regarding Conducting Meetings by Telephone
or Other Electronic Means
As President of the The Economic Development Authority for the City of Elk River Minnesota (the
“EDA”), Minnesota, I find as follows:
a. The spread of COVID-19 in the United States and Minnesota has raised serious public health
concerns and resulted in a great deal of uncertainty. Much remains unknown about the virus
and how it spreads.
b. On March 11, 2020, the World Health Organization determined that the COVID-19 outbreak
constitutes a pandemic. On March 13, 2020, President Trump declared a national state of
emergency as a result of the pandemic.
c. On March 13, 2020, Governor Tim Walz issued Emergency Executive Order 20-01 declaring
a state of peacetime emergency to address the COVID-19 pandemic in Minnesota. The
Governor’s Executive Order triggered activation of the County’s emergency management plan
and enabled the County to exercise its emergency powers.
d. Mayor John Dietz of the City of Elk River, Minnesota declared a local emergency due to the
COVID-19 pandemic in Minnesota.
e. On March 26, 2020, City Administrator Cal Portner declared that until further notice, or until
such time as the State of Minnesota determines to no longer be in a state of emergency, all
meetings of the EDA governed by Minnesota Statute, Section 13D shall be conducted by
telephone or other electronic means.
f. Minnesota Statutes, Section 13D.021 authorizes cities and other public bodies to meet by
telephone or other electronic means if the presiding officer, chief legal counsel, or chief
administrative officer determines that meeting in person or by interactive television is not
practical or prudent because of a health pandemic or an emergency has been declared. I
have consulted with the EDA’s chief legal counsel and chief administrative officer.
Based on the above findings, I determine as follows:
1. In accordance with the declarations of the Mayor and the City Administrator, until further
notice, all meetings of the EDA may be conducted by telephone or other electronic means in a
manner satisfying the requirements in Minnesota Statutes, Section 13D.021 and the
declarations of the Mayor and the City Administrator.
2. As is practical and feasible, the EDA will provide notice of how the public may listen to or
view meetings as they are being conducted, and the EDA will continue to make recordings of
its meetings available to the public.
3. All votes occurring at meetings in which all or some of the members are participating by
telephone or electronic means will be conducted by roll call.
Special Meeting
of the
Joint Finance
Committee
AGENDA
Monday, June 15, 2020
7:30 a.m.
Elk River City Hall
Virtual
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 May 26, 2020, Minutes
3.2 Revolving Loan Fund Balance Report
4. GENERAL BUSINESS
4.1 COVID-19 Small Business Emergency Microloan Applications
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
Held Via Zoom Meeting
Tuesday, May 26, 2020
Members Present: Dan Tveite, Larry Toth, Ryan Hardin, Nate Ovall, Rhonda Magnussen, Chad
Vitzthum, and Michelle Eder
Members Absent: None
Staff Present: Amanda Othoudt, Economic Development and Colleen Eddy, Economic
Development Specialist
Others Present: Dan Walsh, Community Housing Development Corporation
Mikaela Huot, Baker Tilley Municipal Advisors, 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 7:35 a.m.
2. Consider Agenda
Motion by Ovall and seconded by Toth to approve the May 26, 2020, Joint Finance
Committee agenda.
Motion carried 7-0.
3. Consent Agenda
Motion by Ovall and seconded by Eder to approve the May 26, 2020 Joint Finance
Committee consent agenda:
3.1. August 27, 2019 Joint Finance Committee meeting minutes
3.2. Revolving Loan Fund Balance report
Motion carried 7-0.
4.1 Housing TIF Application for Hillside Heights Apartments
Ms. Othoudt presented the staff report. The commission discussed various items; income
guidelines and rent levels, timing of the application as it coincides with the state tax credit
request, housing needs/quota, length of TIF funds, land use requirements for the area
proposed, and the need of a letter of support that would be included in the Tax Credit
request.
Ms. Huot presented her financial analysis. The developer’s application includes an
approximate $16.9 million project that would be funded by an estimated $11.9 million of tax
credits, $3.29 million of debt financing, rebates, deferred developer fee and TIF mortgage.
The developer has asked for annual tax increment revenues generated by the new project to
finance a gap of approximately $780,000.
Ms. Huot noted that through the submission of the tax increment financing application and
supporting financial information, the developer has indicated that the project would not
occur as proposed without financial assistance from the city due to the reduced rents for all
55 housing units. Using the developer’s assumptions, Ms. Huot stated that with assistance,
the project would be able to obtain sufficient financing to support total project costs. She
further indicated that using the same assumptions, without assistance, the project is expected
to have a financial gap of $780,000. The developer has stated that applying the city’s tax
increment revenues to the project would provide the funding levels necessary to close that
gap.
Ms. Huot explained that the projected rental rates are based on approximate 50% AMI
affordability levels for 100% of the units. The TIF statute requires at least 20% of the units
at 50% AMI or 40% of the units at 60% AMI, putting this project at a higher level of
affordability than what is statutorily required for the tax increment financing tool. LIHTC
project requirements include 100% of the units at 60% AMI and this project proposal also
exceeds those affordability requirements.
Hardin questioned whether the developer could increase the annual rental rates up to 60%
AMI and, if so, whether or not there would be a need for TIF.
Ms. Huot stated that an increase in annual rental rates up to 60% AMI is projected to have a
similar impact of providing additional cash flow as would annual tax increment revenues and
would eliminate the need for assistance. Actual performance would be subject to market and
developer’s ability to receive the required funding sources and levels.
Ms. Huot reviewed the maximum term of assistance pursuant to the city’s policy is 15 years
and based on current revenues, the actual term of assistance is projected to be closer to 10
years. The term of the bonds for the project is based on 40 years and LIHTC requirements
for affordability would be 30 years. The term of the tax increment financing would be for a
much shorter period than projected debt payments, which may lead to cash flow
considerations subject to restructuring. Consistent with development projects, including
affordable housing LIHTC projects, a developer fee has been included in the project costs.
The developer is deferring just over 50% of those costs to provide additional upfront
funding.
At the request of the committee, Ms. Othoudt presented the developers site plan, renderings
to the group.
Motion by Hardin to recommend approval of TIF funding in the amount of $780,00
for the maximum term of 15 years contingent of the creation of the TIF district and
securing state tax credits to the HRA and seconded by Magnussen. Motion carried 7-
0.
5.1 Announcements
Ms. Othoudt notified the committee that there is a vacancy on the committee left by Jim
Gromberg, if members know anyone interested they should send Ms. Othoudt their names.
6. Adjournment
There being no further business, Mr. Tveite adjourned the meeting at 8:54 a.m.
Minutes prepared by Colleen Eddy.
_____________________
Tina Allard
City Clerk
___________________
Amanda Othoudt
Economic Development Director
ELK RIVER ECONOMIC DEVELOPMENT AUTHORITY
MICRO LOANS
Current Current 6/11/20
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 $154,481.48 Y
Heritage Millwork 12/22/2016 $100,000 3.00%60 $965.61 $69,219.18 Y
Ralphies#1 9/10/2013 $74,999 3.00%120 $724.20 $26,411.45 Y
Ralphies#2 8/28/2018 $19,175 3.00%60 $343.65 $12,787.95 Y
TOTAL MICRO LOANS $262,900.06 Micro Loan Fund 240
Distinctive Iron 10/1/2019 $126,000 2.03%60 $1,050.07 185,270.76$ Y
Scott Morrell LLC 8/6/2015 $200,000 2.00%60 $1,011.77 158,673.24 Y
Orluck 7/17/2018 $200,000 3.00%84 $2,642.66 151,603.21 Y
$495,547.21 DEED Jobs Incentive Loan Fund 242
Fund Cash Balances 06/11/20:
Micro Loan Fund - 240 $896,148.37
State DEED Jobs Incentive - 242 $127,963.09
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
4.0
Agenda Section
General Business
Meeting Date
June 15, 2020
Prepared by
Amanda Othoudt, EDD
Item Description
COVID-19 Small Business Emergency Microloan
Program
Reviewed by
Cal Portner, City Administrator
Reviewed by
Action Requested
Review each individual application and provide a recommendation to the Economic Development Authority.
Background/Discussion
At their June 3, 2020, meeting, the EDA adopted the COVID19 Small Business Emergency Microloan
Program in response to the COVID-19 pandemic. The new program features a $20,000 loan, which includes a
forgivable loan component of up to $5,000 for property tax relief to assist our local, small businesses which
have been identified in the Governors Executive Orders 20-04 and 20-08.
Program Highlights:
1. Businesses affected by Governors Executive Orders 20-04 and 20-08
2. Maximum of $20,000 loan
3. Amortized over 10 years
4. 5-year balloon, option of a two-year extension
5. Zero percent interest
6. No equity requirement
7. Six-month deferment
8. Application fee waived
9. Up to $5,000 is eligible for forgiveness for property tax relief for taxes payable in 2020
10. Lease or proof of ownership is required
11. In good standing with the city and Secretary of State
12. Program funds are on a first-come, first-serve basis for qualifying businesses.
13. As a condition for receiving funding, all recipients are required to submit 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
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.
N:\Departments\Community Development\Economic Development\EDA\Administrative\Agenda\Joint Finance Committee Agenda
Packets\2020\06152020\4.1 sr COVID19 Small Business Emergency Microloan Program Applications.docx
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.
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.
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
Since the release of this program we have received 12 inquiries and seven applications. Two applications did
not qualify as an eligible business affected by the Governor’s Executive Orders 20-04; 20-08 and notice of
ineligibility was provided to the applicants. One application was deemed incomplete, attempts have been made
by staff to reach out to this applicant.
The following applications have been reviewed:
Pyramid Fitness Group, LLC dba Anytime Fitness
The applicant requested $20,000 loan and indicated their request for up to $5,000 in property tax relief for
taxes payable in 2020. The applicant has supplied a complete application and all supporting documentation.
The applicant is an eligible business type noted in Executive Orders 20-04; and 20-08. The lease dated
November 27, 2019, indicates property tax liability of $903.65 per month, or $10,843.80 payable in 2020. The
applicant is not in violation of any city codes, ordinances, licensing requirements or delinquent taxes, bills, or
charges due to the city.
Daddy-O’s Café, Inc.
The applicant requested up to $5,000 in property tax relief for taxes payable in 2020. The applicant has
supplied a complete application and all supporting documentation. The applicant is an eligible business type
noted in Executive Orders 20-04; and 20-08. The applicant is the owner and supplied a property tax statement
which indicates property tax liability of $9,476 payable in 2020. The applicant is not in violation of any city
codes, ordinances, licensing requirements or delinquent taxes, bills, or charges due to the city.
N:\Departments\Community Development\Economic Development\EDA\Administrative\Agenda\Joint Finance Committee Agenda
Packets\2020\06152020\4.1 sr COVID19 Small Business Emergency Microloan Program Applications.docx
Chow Mixed Grill & BBQ
The applicant requested $20,000 loan and indicated their request for up to $5,000 in property tax relief for
taxes payable in 2020. The applicant has supplied a complete application and all supporting documentation.
The applicant is an eligible business type noted in Executive Orders 20-04; and 20-08. The lease dated
December 31, 2017, indicates that the tenant is responsible to pay all real estate taxes. Property Tax liability
for the applicant is $40,742 payable in 2020. The applicant is not in violation of any city codes, ordinances,
licensing requirements, bills, or charges due to the city. However, property taxes remain unpaid in 2020.
Inspire Studio, LLC
The applicant requested $20,000 loan. The applicant has supplied a complete application and all supporting
documentation. The applicant is 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 this program of up to $200,000 from the general microloan fund account. The
total financial impact if all applications are approved is $65,000. A total of $15,000 is eligible for forgiveness
under the program.
Attachments
COVID-19 Small Business Emergency Microloan Program
Applications and Review Worksheets
Executive Orders 20-04; 20-08
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 DOB SS#
Address City ZIP
Percentage of Ownership ______%
Principal #2
Name DOB SS#
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
Name of Applicant: Pyramid Fitness Group, LLC dba Anytime Fitness
Date Received: 6/1/2020
Amount Requested: $20,000 Loan/$5,000 Forgivable Property Tax Relief
Property Tax Liability: $903.65/month or $10,843.80 per lease
Eligibility Y/N
1. Eligible business types include locally owned and operated businesses noted in
Executive Orders 20-04 and 20-08, including but not limited to:
Y
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.
X
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
Y
3. Be a legal entity registered with the Office of the Minnesota Secretary of State
and be in good standing
Y
4. Be a conforming or legally nonconforming use under the current city zoning
regulations of the city
Y
5. Not be in violation of the city’s zoning code No
Violations
6. Be in compliance with city ordinances, codes, licensing, and must not have any
delinquent taxes, bills, or other charges due to the city
Y
Supporting Documentation: Y/N/NA
1. Proof of ownership or signed lease. Y
2. Proof of submittal, acceptance, approval and/or denial of SBA and DEED loan
applications (not absolutely required)
N
3. Copy of page from business’s most recent federal tax return indicating gross
receipts or sales
Y
4. A W-9 form (with signature) Y
5. Other supporting documentation you wish to provide to the EDA to assist in
understanding the applicant’s situation.
N/A
6. Narrative descriptions and estimated calculations of the negative impacts on the
business due to COVID-19
Y
7. Description of costs to be paid with the proceeds of the loan Y
8. Narrative description of the plans for resuming operations following the COVID-
19 crisis
Y
Name of Applicant: Chow Mixed Grill and BBQ
Date Received: 6/2/2020
Amount Requested: $20,000 Loan/$5,000 Forgivable Property Tax Relief
Property Tax Liability: $40,742.00 Annually per lease
Eligibility Y/N
1. Eligible business types include locally owned and operated businesses noted in
Executive Orders 20-04 and 20-08, including but not limited to:
Y
a. Restaurants, cafes, coffeehouses, and other places of public
accommodation offering food or beverage for on-premises consumption
X
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
Y
3. Be a legal entity registered with the Office of the Minnesota Secretary of State
and be in good standing
Y
4. Be a conforming or legally nonconforming use under the current city zoning
regulations of the city
Y
5. Not be in violation of the city’s zoning code No
Violations
6. Be in compliance with city ordinances, codes, licensing, and must not have any
delinquent taxes, bills, or other charges due to the city
N
(Taxes
remain
unpaid
for 2020)
Supporting Documentation: Y/N/NA
1. Proof of ownership or signed lease. Y
2. Proof of submittal, acceptance, approval and/or denial of SBA and DEED loan
applications (not absolutely required)
N
3. Copy of page from business’s most recent federal tax return indicating gross
receipts or sales
Y
4. A W-9 form (with signature) Y
5. Other supporting documentation you wish to provide to the EDA to assist in
understanding the applicant’s situation.
N/A
6. Narrative descriptions and estimated calculations of the negative impacts on the
business due to COVID-19
Y
7. Description of costs to be paid with the proceeds of the loan Y
8. Narrative description of the plans for resuming operations following the COVID-
19 crisis
Y
Name of Applicant: Daddy-O’s Café Inc.
Date Received: 5/30/2020
Amount Requested: 5,000 Forgivable Property Tax Relief
Property Tax Liability: $9,476 Annually per Property Tax Stmt
Eligibility Y/N
1. Eligible business types include locally owned and operated businesses noted in
Executive Orders 20-04 and 20-08, including but not limited to:
Y
a. Restaurants, cafes, coffeehouses, and other places of public
accommodation offering food or beverage for on-premises consumption
X
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
Y
3. Be a legal entity registered with the Office of the Minnesota Secretary of State
and be in good standing
Y
4. Be a conforming or legally nonconforming use under the current city zoning
regulations of the city
Y
5. Not be in violation of the city’s zoning code No
Violations
6. Be in compliance with city ordinances, codes, licensing, and must not have any
delinquent taxes, bills, or other charges due to the city
X
Supporting Documentation: Y/N/NA
1. Proof of ownership or signed lease. Y
2. Proof of submittal, acceptance, approval and/or denial of SBA and DEED
loan applications (not absolutely required)
N
3. Copy of page from business’s most recent federal tax return indicating gross
receipts or sales
Y
4. A W-9 form (with signature) Y
5. Other supporting documentation you wish to provide to the EDA to assist in
understanding the applicant’s situation.
Y – Liquor
License/MN
Dept Health
License
6. Narrative descriptions and estimated calculations of the negative impacts on
the business due to COVID-19
Y
7. Description of costs to be paid with the proceeds of the loan Y
8. Narrative description of the plans for resuming operations following the
COVID-19 crisis
Y
Name of Applicant: Inspire Studio LLC
Date Received: 6/1/2020
Amount Requested: $20,000 Loan
Property Tax Liability: N/A
Eligibility Y/N
1. Eligible business types include locally owned and operated businesses noted in
Executive Orders 20-04 and 20-08, including but not limited to:
Y
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.
X
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
Y
3. Be a legal entity registered with the Office of the Minnesota Secretary of State
and be in good standing
Y
4. Be a conforming or legally nonconforming use under the current city zoning
regulations of the city
Y
5. Not be in violation of the city’s zoning code No
Violations
6. Be in compliance with city ordinances, codes, licensing, and must not have any
delinquent taxes, bills, or other charges due to the city
Y
Supporting Documentation: Y/N/NA
1. Proof of ownership or signed lease. Y
2. Proof of submittal, acceptance, approval and/or denial of SBA and DEED loan
applications (not absolutely required)
Y
3. Copy of page from business’s most recent federal tax return indicating gross
receipts or sales
Y
4. A W-9 form (with signature) Y
5. Other supporting documentation you wish to provide to the EDA to assist in
understanding the applicant’s situation.
N/A
6. Narrative descriptions and estimated calculations of the negative impacts on the
business due to COVID-19
Y
7. Description of costs to be paid with the proceeds of the loan Y
8. Narrative description of the plans for resuming operations following the COVID-
19 crisis
Y