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<br />Motion by Member Elvig, seconded by Member Strommen, to amend the Revolving Loan Fund <br />Policy to include a requirement that in the event a business receiving the loan were to move out <br />ofthe City of Ramsey the loan would be immediately due and payable. <br /> <br />Motion carried. Voting Yes: Chairperson Riley, Members Elvig, Strommen, Kiefer, <br />LeTourneau, and Steffen. Voting No: None. Absent: Member Schindel. <br /> <br />Member LeTourneau suggested a future discussion regarding a requirement in the Revolving <br />Loan Fund that businesses receiving a loan must remain in the City for a certain amount of time. <br /> <br />Case #2: <br /> <br />Potential Business Case <br /> <br />Moved up in the agenda to precede Case No. I. <br /> <br />Case #3: <br /> <br />EDAM Summer Conference <br /> <br />Economic Development Coordinator Sullivan reviewed that last year the EDA sent John <br />LeTourneau to the Economic Development Association of Minnesota (EDAM) Summer <br />Conference at Ruttger's Bay Lake Lodge. Representation by the EDA as well as an educational <br />element to EDA members makes this event beneficial to the EDA. John LeTourneau was very <br />impressed by the event and the ability to meet new people in the economic development field <br />and to take in information relating to economic development in Minnesota. Mr. Sullivan stated <br />this year's conference will focus on ethics for economic developers as well as business trends in <br />the State of Minnesota. Last year the EDA paid for one member to attend the conference. <br />Sending two members would be something to consider. The budget can absorb these costs and <br />the education presented at this conference would be beneficial to EDA members. He indicated <br />Member Schindel has expressed interest in attending this year's conference. <br /> <br />Member LeTourneau stated the EDAM conference he attended last year was very interesting. <br />He felt it provided him with a better connection to the whole process, and he enjoyed the <br />networking component of the conference. He felt the conference was very beneficial and would <br />recommend it. <br /> <br />Economic Development Consultant Mulrooney indicated one of the topics that will be discussed <br />at this year's conference will be eminent domain and the results of this last legislative session. <br /> <br />Motion by Member Steffen, seconded by Member Elvig, to recommend sending Members <br />LeTourneau and Schindel and Economic Development Coordinator Sullivan to the EDAM <br />Summer Conference, and that the EDA pay for the conference registration and lodging for the <br />event. <br /> <br />Voting Yes: Chairperson Riley, Members Steffen, Elvig, Kiefer, LeTourneau, and Strommen. <br />Voting No: None. Absent: Member Schindel. <br /> <br />Case #4: <br /> <br />South of US Highway #10 Development and Redevelopment <br /> <br />Economic Development AuthoritylMay 18, 2006 <br />Page 6 of 10 <br />