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property is developed without getting involved in land ownership. <br /> <br />Ms. Norris also commented that a resolution will be forwarded to Council <br />regarding the Economic Development Commission's request that CDBG funds be <br />used for Economic Development Company activities. <br /> <br />Mr. Greenberg inquired if the local development company can use CDBG funds to <br />assist existing businesses that would be employing additional persons. <br /> <br />Ms. Norris replied that she would assume the local development company would <br />use the money to subsidize the bank loan in order for the business to borrow <br />at a lower interest rate; and she does not think the local development company <br />can actually make a direct loan to the business. <br /> <br />Mr. Greenberg stated that there are existing businesses in Ramsey that are in <br />great need of assistance and it seems as though these businesses should be <br />attended to before we try and bring in new businesses. <br /> <br />Ms. Norris stated that CDBG criteria is not concerned with whether or not jobs <br />are being created in a new building or an existing building. <br /> <br />Mr. Vevea pointed out his own company as an example of a company that is <br />established, has a product and contracts, but the affects of the past economic <br />climate is still taking it's toll on the company. <br /> <br />Ms. Norris suggested that one of the company's goals should be to look at the <br />needs of existing businesses in Ramsey and determine how the economic <br />development company can meet those needs. <br /> <br />Mr. Hardin suggested that the Ramsey Economic Development Company meet with <br />other local development companies; it may be that the documented goals of the <br />Ramsey Company need some re-writing. Plans should be made to coordinate a <br />marketing program with the Economic Development Commission. <br /> <br />~he consensus was that one of the items of business for the next meeting of <br />the Ramsey Economic Development Company will be to review officers of the <br />company. <br /> <br />Discussion ensued regarding the Economic Development Commission gaining <br />documented Council support of the Economic Development Company. <br /> <br />%~JOURNME~T <br /> <br />Mr. Greenberg adjourned the meeting at 9:03 a.m. <br /> <br />Respectfully submitted, <br /> <br />Sylvia Frolik <br />Secretary <br /> <br />Page 4 of 4 <br /> <br /> <br />