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<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 determines that <br />making the loan is not in the best interest of the City. <br /> <br />O. Appeal. There will be a complaint and appeal procedure for aggrieved applicants: <br /> <br />L Written notice. Applicants will receive written notice of denial of the loan and the <br />reasons(s) for the determination within fourteen (14) days of the determination. <br /> <br />2. Petition. The aggrieved applicant may petition the EDA in 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 />3. 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 />VIII. Administration. <br /> <br />A. Loan review committee. The Ramsey EDA will serve as the loan review committee. The <br />final determination on all revolving loan applications rests with the City Council. <br /> <br />B. 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 />C. 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 />D. Pre-application process. All parties seeking revolving loan funds must file a pre- <br />application. Pre-application forms may be obtained from the Community Development <br />Department. <br /> <br />1. There will be a pre-application form that must be completed and submitted to the <br />Community Development Department for- review and approval. <br /> <br />2. The pre-application form will request information regarding the applicant, project <br />scope, and project costs. <br /> <br />27 <br />