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v\\,i v E S 07. <br /> 409 <br /> 10-Trade & , <br /> conomic <br /> Development <br /> April 1 S. 2003 <br /> The Honorable Stephanie Klinzing <br /> Mayor. City of Elk River <br /> 13065 Orono Parkway <br /> Elk River, MN 55330 <br /> Dear Mayor Klinzing: <br /> I am pleased to inform you that the City of Elk Rivers' application for a Small <br /> Cities Economic Development Set-Aside grant has been approved. As outlined <br /> in the approved application, the city will make a loan of$200,000 to Sportech. <br /> Inc. to assist with the company's expansion plans. <br /> A grant agreement is being prepared by the Business and Community <br /> Development Division staff. They will also provide you with additional <br /> • information about your grant award to help you achieve your economic <br /> development goals. <br /> Also, please note that your approved application becomes part of the grant <br /> agreement. For additional information, contact Paul A. Moe. Director of <br /> Business Finance, at 651/297-1391. - <br /> Finally, let me extend my congratulations to you and your staff for developing a <br /> successful project application to help address your community and economic <br /> development needs. <br /> Sincerely. <br /> 4/1%ti\- --\. <br /> Matt Kramer <br /> Commissioner <br /> • <br /> coo Metro Squarc ■ 121 7th Place .5t • Si. P L. Minnesota 55101-2146 ■ USA <br /> www.dted state.mmus 651.297-1291 ■ 800 657 3858 • h?E;6533t-,4-4772 • TTY/TDD 800-627-3529 <br /> 179P-d ZQ/ZO d Z8Z-1 4314-woJd wdlE:Zl ED-IZ-AY <br />