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Background: <br /> <br />CASE #1 <br /> <br />PROPOSED REVOLVING LOAN AND <br />FINANCIAL ASSISTANCE DOCUMENTS <br />By: James Gromberg, Project ~Manager <br /> <br />The City Cot/ncil :has created an Economic Development Authority (EDA) with which to help <br />encourage th~ eXl~ansion and location of businesses in commercial endeavors to the City of <br />Ramsey. Ino!!de~ ~or the EDA to achieve these goals, the City will need the ability to provide for <br />financial assisian¢~ and to set guidelines as to how monies will be made available and the amount <br />that may be ac ;luit~. <br /> <br />Enclosed are ~e proposed guidelines for the acquisition of EDA assistance for projects in the City <br />of Ramscy. ~ftef~review by the EDC and City Council, these documents will be sent to local <br />lending insti ~tiofls for further review and comment. The documents will then be changed <br />accordingly ar :l presented to the City Council for approval. <br /> <br />Recommendation: <br /> <br />The EDC shoUld reyiew these documents at this time and make comments as to possible changes to <br />make the documents as usable as possible. <br /> <br />CommissionI Action: <br />Review doeume~ nts and make changes accordingly. <br /> <br />Review CheCkliSt: <br /> <br />Project Manager <br /> <br />EDC:07/15/92: <br /> <br /> <br />