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EDA BUSINESS Case #1: DISCUSS PENDING REVOLVING LOAN FUND APPLICATIONS FROM WELLS CATERING AND COUNTRY CROSSING MALL Deputy City Administrator/Director of Community Development Nelson provided a brief update on two local businesses, Wells Catering and Country Crossing Mall, who are both requesting financial assistance from the Ramsey Revolving Loan Fund. Economic Development Consultant Mulrooney explained that the Wells Catering application is currently lacking information; therefore it is not ready for EDA consideration at this time. Once Wells Catering establishes a budget, and is able to identify source and use of funds for the project, it is likely the loan request will be considered at the EDA meeting in May. Deputy City Administrator/Director of Community Development Nelson stated that a request for RLF financing was also received from the owner of the Country Crossing Mall located at the intersection of Highway 47 and 167' Avenue. The owner wants to make cosmetic improvements to the property, including improvements to the building fagade, awnings, and sealcoating the parking lot. At this time, the application is missing a credit analysis of the proposed loan request and the identification of a private sector match of funds. Economic Development Consultant Mulrooney communicated the need for the EDA to discuss the issue of project eligibility because he does not want to take this project further if it is later decided that it does not qualify. Discussion continued regarding the EDA's current Revolving Loan Fund guidelines, and it was determined that reviewing the guidelines should be a future EDA topic. In the meantime, the EDA would like to see the owner of Country Crossing Mail complete the RLF application. Case #2: UPDATE ON THE 2010 RAMSEY BUSINESS EXPO Management Intern Hendricks briefed the EDA on the upcoming Business Expo preparations. Invitations have been mailed to Ramsey businesses. So far, there are 40 interested businesses. Although there are 50 booth spaces available, it is anticipated that all of the spaces will be filled. Articles have been placed in the Ramsey Resident and Anoka Chamber newsletters; a postcard reminder will be mailed out to all Ramsey residents and businesses; Village Bank and Coborn's have agreed to advertise the event on their marquee displays; and temporary signs for the event will be hung on the parking ramp two weeks before the event. A presentation by Environmental Coordinator, Chris Anderson, was recorded at QCTV. The spot features the Ramsey Business and Environmental Expo and Tree Sale and will air periodically until the date of the event. Management Intern Hendricks was asked if she needed anything from the EDA. She responded by saying that members of the EDA are welcome the day of the event (which is May ls`) to help greet residents at the registration table. Economic Development Authority / Apri18, 2010 Page 2 of 5