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that would be involved in this study to build a timeframe for the study process. Member <br />Strommen requested staffto provide the timeframe at the next Board meeting. <br /> <br />Case #3: Staff Update <br /> <br />Economic Development Coordinator Sullivan informed the Board that Bruce Youngberg of <br />Catheter Technologies has indicated he will not be proceeding with his project in the City of <br />Ramsey. Mr. Youngberg has stated the funds approved by the EDA were inadequate, as at least <br />$50,000 is needed. Mr. Youngberg also refused to lock his business into Ramsey during the time <br />the loan is outstanding. Member Elvig stated he would like it noted that the EDA approved the <br />request for funding originally presented by Mr. Youngberg. Member Schindel commented the <br />Board gained experience through the consideration of this revolving loan fund request. <br /> <br />The Board reviewed the Staff Update. Economic Development Coordinator Sullivan reported <br />the Ramsey Business Appreciation Day will be held on August 15th at The Links at Northfork. <br />The golf event will be limited to the first 36 teams that sign up. The Links at Northfork has <br />added on to its clubhouse, which will now be able to better accommodate the crowd this event <br />generates. At the next Board meeting staff would like to put together a committee to help <br />identify how the event could be made better. <br /> <br />Member Strommen left the meeting at 8:44 a.m. <br /> <br />Member Elvig commented on the possibility of the City of Loudi locating a Trade Office in <br />Ramsey. He indicated the Council is considering a delegation to travel to Loudi, with the <br />funding source recommended from the Council Contingency Fund. He suggested at some point <br />the EDA may want to weigh in on the possible business opportunities with this sister-city <br />relationship. <br /> <br />Member Elvig left the meeting at 8:48 a.m. <br /> <br />Economic Development Coordinator Sullivan requested any members interested in attending <br />Economic Development Association of Minnesota (EDAM) events to inform him. He indicated <br />members can also sign up individually and be reimbursed by the City. <br /> <br />MEMBER INPUT <br /> <br />None. <br /> <br />ADJOURN <br /> <br />Motion by Member Schindel, seconded by Member Kiefer, to adjourn the meeting. <br /> <br />Motion carried. Voting Yes: Acting Chairperson Steffen, Members Schindel, Kiefer, and <br />LeTourneau. Voting No: None. Absent: Chairperson Riley and Members Elvig and Strommen. <br /> <br />The regular meeting of the Economic Development Authority adjourned at 8:50 a.m. <br /> <br />Economic Development Authority/April 13, 2006 <br />Page 8 of 9 <br /> 8 <br /> <br /> <br />