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Mr. Ippel requested that the Company at least reaffirm that the Star City <br />Program is necessary and should be pursued expeditiously. <br /> <br />Mr. Greenberg stated that he will have Mr. Kurak's and Mr. Ippel's proposal <br />placed on the next Economic Development Commission agenda for discussion. <br /> <br />Case ~7: Discussion Regardin~ Economic Develonment Resources Available; <br /> Case Of Mr. Pat Pelstring: <br /> <br />Mr. Pelstring of Business Development Services was present. Mr. Pelstring <br />stated that his firm handles the administration and loan packaging services <br />for all Coon Rapids Development Company projects. His firm also offers <br />it's loan packaging services to ACBAN (Anoka County Business Assistance <br />Network). One of ACBAN's functions is to provide assistance in processing <br />applications for the Small Business Loan Program; all ACBAN processed SBA <br />loans are certified by the Coon Rapids Development Company. Mr. Pelstring <br />explained how his firm would work under ACBAN and with the city and <br />business owner to get an SBA loan package assembled, processed and approved <br />and the associated fees for same. Mr. Pelstring also explained how ACBAN, <br />Coon Rapids Development Company and Business Development Services derive <br />their operating funds. <br /> <br />Mr. Pelstring stated that another service his firm can offer a city is <br />industrial prospecting on a per/contact basis. Mr. Pelstring noted that <br />his firm recommends that cities obtain Star City designation. Mr. <br />Pelstring also noted that the real value in obtaining that designation is <br />'becoming aware'; the process is of little good if there isn't total <br />involvement by all groups and committees. <br /> <br />Mr. DeLuca referred to earlier discussions regarding the possibility of <br />combining CDBG Revolving Loan funds with private bank loans and SBA loans <br />to fund an entire project. Comments were made regarding CDBG Revolving <br />Loan funds being paid back to the County in the City's designation but with <br />County control. Mr. DeLuca requested that Ms. Norris research whether that <br />process is correct and if so, does the County retain any interest derived <br />while the funds are in their control. <br /> <br />Ms. Norris replied that once the use has been approved and CDBG funds <br />obtained from the County, the City handles the loan and no money goes back <br />to the County; the City does have to provide quarterly reports to the <br />County regarding those accounts. She will research the matter further. <br /> <br />Case #2; Update On "Discover Ramsey": <br /> <br />Mr. Muller stated that the Coca-Cola Company is interested in being the <br />exclusive sponsor of "Discover Ramsey". <br /> <br />Mr. Hardin stated that determination of number of booths that can be <br />accomodated at Ramsey School is being worked on; registration forms for <br />Discover Ramsey are being finalized. <br /> <br />Case #~; Update On Highway ~10 Corridor Study; <br /> Economic Development Company/August 6, 1987 <br /> <br />Page 3 of 4 <br /> <br /> <br />