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I I I I I I I I I I I I I I I I I I I' CRee ~Z-t!. COON RAPIDS DEVELOPMENT COMPANY PARTNERS IN PROGRESS , "<--1 (. '..~ / .. . ",t"'(,,, ... ... '; . ...:...)~.,.~(' })Y" ( . '\.... ',,' " . \. " . '\) ,\' ( " :. ':.r-~ ~. '. I -' \;/ . January 17, 1986 ( Anne Norris Economic Planner city of Ramsey 15153 Nowthen Boulevard N.W. Ramsey, MN 55303 . , Dear Ms. Norris: The CRDC Board of Directors has authorized exploring the possibilities of providing loan processing services for the SBA 503 Loan Program for other communities within Anoka County. CRDC has a long, successful history in working directly with the SBA: and we feel CRDC provides a high level of service for prospective businesses seeking this financing. CRDC retains Business Development Services, Inc. as its administrative staff, and representatives of BDS take an active role in structuring the loan package, seeking approval from the bank, and the actual pre- paration of final documentation for SBA review. As a 503 Certified Development Company, CRDC can submit its loans directly to SBA for approval. This level of service provides a more detailed, personal, and direct follow up which is often critical in assuring that a pro- ject reaches the construction stage. / . It is not the intention of CRDC to replace any marketing or business recruitment programs which are currently being handled locally. Instead, we would offer our loan packaging and submission services to other communities. The preliminary project screening would remain the function of your local development organization, and CRDC would con- sider the loan application only upon recommendation from your organi- zation. Coon Rapids Development Company recognizes that its primary respon- sibility for marketing and business recruitment remains in the immediate Coon Rapids area. Likewise, we recognize that if CRDC is processing loans throughout Anoka County, we must respect the integrity of those projects. By accepting this responsibility for other communities within the County, CRDC would agree not to recruit and/or compete with any community on a project once a preliminary application has been submitted to the Board for its review. In addi- tion, we recognize the responsibility for loan approval on a potential Coon Rapids project locating in an adjacent community. 9541 Foley Boulevard, Coon Rapids, Minnesota 55433 (612) 780-8681