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VIII. <br /> <br />Post closing amendments and mOdifications. Requests for amendments and modifications <br />following a'ward, closing or disbursement of funds to the underwriting of the original <br />request require City approval and shall be presented at the next scheduled meeting of the <br />EDA. <br /> <br />Loan declination. The City will not make a loan if it determines the loan amount would <br />place an.undue burden on the financial resources of the Borrower or the Borrower cannot <br />demonstrate adequate financial' capacity to repay the loan or the City other determines <br />that making the loan is not in the best interest of the City. <br /> <br />Appeal. There will be a complaint and appeal procedure for aggrieved applicants: <br /> <br />1. Written notice. AppliCants will receive written notice of denial of the l°an and the <br /> reasons(s) for the determination within fourteen (14) days of the determination. <br /> <br />Petition. The aggrieved applicant may petition the EDA writing for reconsideration <br />within fourteen (14) days from date of the written notice of denial. Any request to <br />appear before the EDA must be in writing and' must be submit least seven (7) days <br />prior to the EDA's scheduled meeting. Upon receipt.of the written 'petition for <br />reconsideration, the EDA shall consider the petition at it's next scheduled meeting <br />and advise the petitioner in writing of its decision within fourteen (14) days of that, <br />meeting. The EDA's decision Will be final. <br /> <br />Re-application. Applicants aggrieved by the EDA's final decision may re,apply for <br />revolving loan funds after ninetY (90) days if the concerns in the preceding <br />application are adequately and appropriately addressed. <br /> <br />Administration. <br /> <br />Loan review committee. The Ramsey EDA will serve as the loan review committee. The <br />final determination on all revolving i°an applications rests with the City Council. <br /> <br />Conflict of Interest. All city officials and employees shall comply with the applicable <br />conflict of. interest regulations set forth in the City Code. <br /> <br />Staff responsibility. CommunitY development staff shall have the general responsibility <br />for coordinating the apPlication process, reviewing loan application, preparing <br />applications and recommendations for review by the EDA, and coordinating the loan <br />approval and service process as set forth in Subsections. D-- G of this section. <br /> <br />5 18 <br /> <br /> <br />