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ECONOMIC DEVELopMENT AUTHORITY <br />CITY OF-RAMSEY <br /> ANOKA COUNTY <br /> STATE OF MINNESOTA <br /> <br />The Ramsey Economic Development Authority conducted a regular meeting on Monday, August · <br />20, 2001, at Ramsey Fire Station No. 2, 15050 Armstrong Boulevard NW, Ramsey, Minnesota. <br /> <br />Members Present: <br /> <br />Susan E. Anderson <br />Julie Blaha <br />John LeTourneau <br />Chris Riley <br />Lydia Scheiber <br /> <br />Members Absent: <br /> <br />Kenneth Wagner <br />Gerald Zimmerman <br /> <br />Also Present: <br /> <br />James E. Norman, City Administrator <br /> <br />CALL TO ORDER <br /> <br />Vice-Chairperson Lydia Scheiber called the regular meeting of the Economic Development <br />Authority to order at 7:05 p.m. <br /> <br />APPROVAL OF AGENDA <br /> <br />Motion by Member LeTourneau and seconded by-Member Riley to approve the agenda as <br />presented. <br /> <br />Motion carried. Voting Yes: Vice-Chair Scheiber, Members LeTourneau, Riley, Anderson, and- <br />Blaha. Voting No: None. Absent: Members Wagner and Zimmerman. <br /> <br />ECONOMIC DEVELOPMENT AUTHORITY 0gDA) BUSINESS <br /> <br />Case #1: Sunfish Commons Revolving Loan <br /> <br />City Administrator Norman explained the recent adoption of the Revolving Loan Fund, which is <br />intended to fill the financing gap between project costs and private equity by making direct low- <br />interest loans for certain approved business activities within Ramsey's City limits. The multi- <br />tenant retail facility known as Sunfish Commons, which is located on Highway #10 and to the <br />west of Sunfish Lake Boulevard, is currently under construction. The partners of Sunfish <br />Commons have requested the City consider an application for the Revolving Loan Fund. Mr. <br />Norman explained the difficulties that the Fund does not have adequate financing in order to <br />consider such a loan request. The fund was created earlier this year by a grant from the State <br />Department of Trade and Economic Development and all the funds were used for the Systematic <br />Refrigeration project. Mr. Norman asked the EDA to consider making a recommendation to <br /> <br />EDA August 20, 2001 <br /> Page 1 of 4 <br /> <br />75 <br /> <br /> <br />