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City of Elk River, Minnesota <br /> Sportech, Inc.Application Review <br /> January 15, 2014 <br /> Page 6 <br /> 7. Certificate of Good Standing from the Minnesota Secretary of State or other satisfactory evidence of good <br /> standing. <br /> Sonngsted reviewed a Dun and Bradstreet report for the applicant and found the company to be in good <br /> financial and credit standing. In addition, Springsted reviewed the Minnesota Secretary of State online <br /> resources and found the status of Spottech, Inc. to be active and in good standing. As a result, it appears <br /> the applicant meets the criteria. <br /> Conclusion <br /> After examining the forgivable loan application materials submitted by Sportech, Inc. and in conjunction with the <br /> Economic Development Forgivable Loan Program guidelines, Springsted concludes that Sportech, Inc. appears to be <br /> in compliance with the program eligibility requirements(for which information was provided)as outlined in this memo. <br /> Attachments <br /> Sportech, Inc. Forgivable Loan Application <br /> Letter of Commitment from Sportech, Inc. dated December 26, 2013 <br />