RES 10-01 EDARESOLUTION 10-O1
A RESOLUTION OF THE ECONOMIC DEVELOPMENT AUTHORITY
FOR THE CITY OF ELK RIVER
A RESOLUTION AUTHORIZING THE ECONOMIC DEVELOPMENT AUTHORITY
FOR THE CITY OF ELK RIVER (ELK RIVER EDA) TO SUBMIT AN
APPLICATION FOR ENERGY PROGRAMS IN COMMERCIAL & INDUSTRIAL
BUILDINGS REVOLVING LOAN PROGRAM
WHEREAS, Elk River is designated as Energy City of Minnesota since 1997, and is a
leader in the State of Minnesota for the demonstration of energy efficient and renewable
energy systems; and
WHEREAS, the Elk River EDA is committed to encouraging and promoting
opportunities for energy efficiency and renewable energy systems in commercial and
industrial buildings; and
WHEREAS, the Elk River EDA has the financial capability to match up to $265,000
through its EDA Micro Loan Fund, in-kind staff and advertising/marketing support, and
applicant loan origination fees for the purpose of implementing the program; and
WHEREAS, the Elk River EDA has the management capacity and experience to develop
and operate a revolving loan fund program for the purpose of financing energy efficiency
improvements in commercial, industrial and nonprofit facilities; and
NOW, THEREFORE, BE IT RESOLVED upon approval of its application by the
Minnesota Department of Commerce Office of Energy and Security, the Elk River EDA
may enter into an agreement with the Minnesota Department of Commerce Office of
Energy and Security for the Energy Programs in Commercial and Industrial Buildings,
and the EDA Executive Director is hereby authorized to execute such agreements as are
necessary to implement the program on behalf of the Elk River EDA.
Passed and adopted this 8th day of February 2010.
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C~ ~~
Patrick Dwyer, President
ATTEST:
Catherine Mehelich, Executive Director