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<br />Councilmember Woestehoff introduced the following resolution and moved for its adoption: <br /> <br />RESOLUTION #21-026 <br /> <br />RESOLUTION APPROVING LOAN AND MODIFICATION TO WAC PROGRAM FOR <br />PLEASANT VALLEY SUNRISE GROUP LLC DBA AURELIO'S PIZZA <br /> <br /> WHEREAS, <br />the City of Ramsey, created a WAC Loan Program for restaurants on July <br />24, 2018 that sunsets on July 31, 2021; and <br /> <br />WHEREAS, <br />Pleasant Valley Sunrise Group LLC dba Aurelio’s Pizza (“Aurelio’s”) <br />submitted an application requesting a, 0% interest, forgivable loan for 70% of the $23,100 in SAC <br />and WAC Charges due for the proposed restaurant expansion totaling $16,170; and <br /> <br />WHEREAS, <br />an amendment to the existing WAC Loan Program to allow for SAC and <br />WAC Charges and the expansion to existing restaurants to be eligible would be need to be adopted <br />to allow for approval of the loan requested by Aurelio’s; and <br /> <br />WHEREAS, <br />the EDA met on January 14, 2021 and recommended that City Council <br />approve a 70%, 0% interest, forgivable loan for Aurelio’s and to amend the WAC Loan Program <br />to permit SAC Charges and expansions to existing full service restaurants; and <br /> <br />WHEREAS, <br />Pleasant Valley Sunrise Group LLC is Active / in Good Standing with office <br />of the Minnesota Secretary of State as of 2/2/2021 <br /> <br />NOW THEREFORE, BE IT RESOLVED BY THE CITY OF RAMSEY, ANOKA <br />COUNTY, STATE OF MINNESOTA, as follows: <br /> <br /> <br />1)That the City Council approves and amendment to the Restaurant Subsidy Program to <br />allow for both SAC and WAC charges to be eligible for loan and to allow for expansion to <br />existing restaurants to be permitted. <br /> <br />2)That the City Council approves a $16,170 loan to Pleasant Valley Sunrise Group LLC dba <br />Aurelio’s Pizza; subject to satisfactory underwriting. <br /> <br />3)The City Council authorizes the execution of required loan documents by the Mayor and <br />City Administrator. <br /> <br />4)The $16,170 loan is to be funded from the EDA Cash balance. <br /> <br />The motion for the adoption of the foregoing resolution was duly seconded by Councilmember <br />Musgrove, and upon vote being taken thereon, the following voted in favor thereof: <br /> <br /> Mayor Kuzma <br /> Councilmember Woestehoff <br /> Councilmember Musgrove <br /> Councilmember Howell <br /> Councilmember Riley <br /> Councilmember Specht <br /> <br /> <br />