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Proposed energy efficiency improvements will be reviewed and approved by <br />the utility company servicing the building (e.g. Elk River Municipal Utilities, <br />Connexus, CenterPoint) along with a letter indicating eligible utility rebates. <br />An Elk River Energy City Commission member will be asked to participate <br />in the EDA Finance Committee review and recommendation of the <br />application. <br />The loans will be secured by personal and corporate guarantees, and if <br />applicable a lien on equipment financed. Installation must be certified <br />through a licensed contractor and electrician. <br />Loans less than $75,000 do not qualifi' as a `business subsidy' by state law <br />and are therefore exempt from state repotting requirements. However the <br />EDA will track jobs retained and created as a result of the project. (confirm <br />avith city attorney on business .rub~icly linaitr) <br />