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I <br /> I <br /> I <br /> I <br />I <br /> I <br /> I <br /> I <br /> I <br /> I <br /> I <br /> I <br /> I <br /> I <br /> I <br /> I <br /> I <br /> I <br /> <br />Page Two. <br /> <br />Since the above is a broad outline and is subject to finer detail, if you have a <br />project(s) in mind, please call me so we may fully discuss the proposal. <br /> <br />You also had questions relative to the use of program income generated by <br />economic development loans to private industry. Any revenues generated by <br />loan repayments are considered federal revenues and are covered by the same <br />CDBC- rules which affect the original entitlement amount awarded to Anoka <br />County. <br /> <br />HUD requires that all program income be promptly returned to Anoka County. <br />We record that income as a credit to the CDBG budget of the community which <br />generated it and thereby allow for further CDBG activity. The County Board <br />has passed a resolution (attached) which states that program income may be <br />used to continue the generating activity or to pursue economic development. <br /> <br />If you need any further information, please feel free to contact me. <br /> <br /> Sincerely yours, <br /> <br />'~/JoAnn O. Wright <br /> Community Development Coordinator <br /> <br />JOW:sw <br />Enclosure <br /> <br />CC: <br /> <br />Jean Schlueter <br />C.ary Reimann <br />Sue Van Wagner <br />Al $orteberg <br />Don C.reenberg <br />Natalie Haas <br /> <br /> <br />