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<br />Bennett Cooper Flooring is requesting financial assistance from the City of <br />Ramsey to rehabilitate the building by using the Ramsey Revolving Loan Fund. <br />The projected loan amount is $56,000 or 40% of the total project cost. Additional <br />financing for the project expected to be received from 21 8t Century Banle <br /> <br />This project involves a request from a company who is a wholesaler and limited <br />retailer. The RLF guidelines were amended in February of 2005 making retailers <br />ineligible for RLF proceeds. The project also entails redevelopment of a <br />commercial building which is one of the goals that the EDA has established for the <br />fund.. As a result, staff is seeking guidance from the EDA regarding program <br />eligibility for this loan request. <br /> <br />Funding Source: <br /> <br />EDA Revolving Loan Fund <br /> <br />Recommenda tion: <br /> <br />Financial information and analysis will be provided at the meeting and a <br />determination should be made after discussion. <br /> <br />None <br /> <br />EDA Action: <br /> <br />To Be Detennined <br /> <br />EDA: 9.06.07 <br /> <br />'24 <br /> <br />