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RECEIVED <br /> <br /> OF ANOKA <br />Office of the County Board of Commissioners <br />COURTHOUSE ANOKA, MINNESOTA55303 612-421-4760 <br /> <br /> March 8, 1989 <br /> <br />Mr. Mark Banwart <br />Community Development Director <br />City of Ramsey <br />15153 Nowthen Boulevard N.W. <br />Ramsey, Minnesota 55303 <br /> <br />Re: Clarification on Ramsey CDBG Revolving Loan Fund <br /> <br />Dear Mark: <br /> <br />This letter is a concurrence with the City of Ramsey's proposal to continue a revolving <br />economic development loan fund - subject to a condition. <br /> <br />These funds are subject to the County's "1S-month rule" as are all CDBG funds. At the end <br />of each calendar year, I present to the Community Development Committee of the County <br />Board a list of all CDBG projects with fund balances that are 18-months-old. The communities <br />on the list then receive notification that they have until June 30 to expend or to contractually <br />obligate the funds. The County Board will consider any unobligated balances after June 30 <br />to be available for reallocation at the Board's discretion. <br /> <br />Therefore, any revolving loan funds received through June, 1988 that remain unobligated on <br />December 31, 1989, will be subject to this procedure. <br /> <br />Please let me know if you need anything further. <br /> <br /> Sincerely, <br /> <br /> /F <br /> <br />'JoAnn O. Wright <br /> Community Development Manager <br /> <br />JOW:sw <br /> <br />Affirmative Action / Equal Opportunity Employer <br /> <br /> <br />