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<br />expansion and reconfiguration of its existing business. He added that the company has been told <br />the City has a revolving loan fund that they could utilize. <br /> <br />Economic Development Coordinator Sullivan u~dated the EDA regarding additional parcels <br />identified for acquisition and the Highway 47/16i Commercial Node. <br /> <br />Economic Development Coordinator Sullivan presented information regarding the Strategic <br />Entrepreneurial Economic Development (SEED) program. He indicated the State of Minnesota <br />. is looking to launch a new economic development program and there may be funds available for <br />use by the City. <br /> <br />Economic Development Consultant Mulrooney noted that the program takes effect July 1, 2008 <br />and the state is infusing $20 million into redevelopment grants to cities, which represents a <br />significant increase. <br /> <br />Economic Development Coordinator Sullivan updated the EDA regarding Anoka Partners, <br />which will be closing its doors. He added that the 501(c)(3) status will be retained and the board <br />will remain intact to keep the entity in existence. <br /> <br />MEMBER INPUT <br /> <br />None. <br /> <br />ADJOURN <br /> <br />Motion by Member LeTourneau, seconded by Member Kiefer, to adjourn the meeting. <br /> <br />Motion carried. Voting Yes: Chairperson Riley, Members LeTourneau, Kiefer, and Schindel. <br />V oting No: None. Absent: Members Elvig, Steffen, and Strommen. <br /> <br />The regular meeting of the Economic Development Authority adjourned at 9:10 a.m. <br /> <br /> <br />ATTEST: <br /> <br /> <br />J Ann Shaw <br />ommunity Development Secretary <br /> <br />Draft by Barbara Hughes <br />TimeSaver Off Site Secretarial, Inc. <br /> <br />Economic Development Authority/October 18, 2007 <br />Page 9 of9 <br />