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The EDA reviewed this case again on 03/09. Below is a summary of EDA direction. The EDA did pass a 4-0 <br /> motion to support the direction outlined in the "Action" section of this case. <br /> .The EDA spent very little time reviewing this case on 03/09/17--as little has changed with the case since the <br /> EDA/Council approved the loan in February. The EDA felt comfortable with the recommendation provided <br /> in the attached MEMO from Mike Mulrooney. <br /> Action: <br /> Motion to: <br /> Approve the attached draft loan agreement with American Print&Digital and approve an EDA RLF loan in an <br /> amount up to $72,500 (not to exceed 5%of the project cost); subject to: <br /> .the borrower providing a first lien to the City on the attached "Equipment List" <br /> .the borrower receiving approval of the project loan by the Bank of Elk River and the SBA <br /> .final drafting, review, and approval of the loan agreement by the City Attorney and the CMDC <br /> Attachments <br /> CMDC MEMO <br /> DRAFT LOAN AGREEMENT <br /> APD Equipment List <br /> APD Cover Letter <br /> EDA RLF Guidlines <br /> Form Review <br /> Inbox Reviewed By Date <br /> Kurt Ulrich Kurt Ulrich 03/09/2017 01:52 PM <br /> Form Started By:Patrick Brama Started On:03/07/2017 08:22 AM <br /> Final Approval Date:04/18/2017 <br />