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Background~: <br />The City CoU, ncil <br /> <br />PROPOSED REVOLVING LOAN AND <br />FINANCIAL ASSISTANCE DOCUMENTS <br />By: James Gromberg, Project Manager <br /> <br />CASE #1 <br /> <br /> has created an Economic Development Authority (EDA) with which to help <br />encourage th~ expansion and location of businesses in commercial endeavors to the City of <br />Ramsey. In ~derifor the EDA to achieve these goals, the City will need the ability to provide for <br />financial assi~an,e~ and to set guidelines as to how monies will be made available and the amount <br />that may be <br /> <br />Enclosed am he p~posed guidelines for the acquisition of EDA assistance for projects in the City <br />of Ramsey. ~ (ft~ review by the EDC and City Council, these documents will be sent to local <br />lending instii atio~s for further review and comment. The documents will then be changed <br />accordingly a~ a:l pLesented to the C~ty Council for approval. <br /> <br />Recommendation: <br />The EDC shotild r~view these documents at this time and make comments as to possible changes to <br />make the d°C ~t~e~s as usable as possible. <br />Commission' AC[ion: <br />Review doetmients'~ and make changes accordingly. <br /> <br />Review Che/:kli$t: <br /> <br />Project Manage <br />EDC:08/12/92 <br /> <br /> <br />