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ECONOMIC DEVELOPMENT REPORT (Continued from Page 2) of Community Development Block Grant funds from HUD. An allocation of $115,000 to $120,000 is expected and will be available for economic development purposes. For the past several years, CDBG funds have been used to provide long-term, below-market loans to new and expanding businesses for equipment purchases or leasehold im- provements. The companies, in turn, agree to create a specified number of jobs for Iow and moderate income per- sons within a given time period. If your company is in need of new facilities for expansion purposes or new products, the City of Coon Rapids has much to offer by way of available land, financing tools, and quality of life. If you wish more information about locating in Coon Rapids, please contact the Economic Development Department at 780-6461. Leonard Kne Director of Community Development City of Coon Rapids 1313 Coon Rapids Boulevard Coon Rapids, Minnesota Coon Rapids Development Company is a private, not-for-profit corporation funded by servicing fees collected from SBA loans and sales of stock. Its major 'functions are to promote economic development in the City of Coon Rapids and assist in the expansion and/or relocation of businesses in Coon Rapids. CRDC needs your support] Your purchase of stock in Coon Rapids Development Company is an invest- ment in the Coon Rapids Community. Contact the CRDC office to pledge your support in the Coon Rapids Community by the purchase of CRDC stock. The CRDC News is published quarterly by the Board of Directors of CRDC. Any suggestions for in- clusions or comments on the newsletter should be directed to: Connie M. Hills, Administrator Coon Rapids Development Company P.O. Box 33346 Coon Rapids, MN 55433 (612) 574-1656 CRDC Board of Directors: Michael F. Quigley, President William F. Thompson, Vice President Donald E. Hubmer, Secretary Steven C. King, Treasurer Jerri Pieper, Director Gary L. Nereson, Director Alan J. Hamel, Director Karen Rosar, Director Jim Bock, Director CRDC Shareholders Elect New Board Member Coon Rapids Development Company held its Annual Shareholders' Meeting on Thursday, December 4, 1986, at The Seasons Restaurant and Lounge. Mr. Jim Bock, a Cer- tified Public Accountant with the firm of Ranzinger & Bock, CPAs, was elected to serve a three-year term on the CRDC Board. Board members Jerri Pieper and Gary Nereson were re-elected to serve additional three-year terms. Mr. Don Waligoski of the U.S. Small Business Ad- ministration was a special guest at the meeting, as well as Joy Pirkl and Tom Snell of the Anoka County Chamber of Commerce. During the meeting, there was a great deal of discussion regarding CRDC's expansion of its SBA Certification Area. It was stated that in 1972, 75 to 80 percent of the popula- tion of Anoka County was traveling outside of the County for employment. The same is true of the fee income from the SBA 503/504 Loan Program. It is important to. keep these jobs as well as these funds in the County. President Michael Quigley stated that anything that helps Anoka County helps Coon Rapids, and the intention of CRDC's expansion is to allow the rest of the County to utilize the high quality of service CRDC offers in processing SBA 503/504 loans. As a result of its annual workshop held with City and County representatives, the attendees emphasized that economic development is a regional issue. CRDC intends to act ina partnership withAnoka County, not as competition with the other communities in the County. President Reagan Assures That SBA To Stay President Reagan's Annual Report on the State of Small Business confirms that the rush by Americans to start their own small businesses continues. The report also confirms that small businesses continue to lead in job creation. The 1988 budget leaves the Small Business Administra- tion intact, reversing the Administration's budget proposals of the past two years calling for the agency's elimination. In fact, the Administration proposed to expand SBA's opera- tions by having it take over the Minority Business Devel- opment Agency from the Department of Commerce. Former South Dakota Senator James Abdnor has ac- cepted the President's nomination as Administrator for the SBA. Leslie Mehlhaff, chief of staff for the SBA, has said that Abdnor would not have accepted the nomination if it had meant presiding over the dismantling of SBA.