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05 01 11 : 34a Donald R. DeVoe 952-941 -5972 p. 1 <br /> ■ ■ ■ <br /> ■ ■ <br /> ■ ■ ■ <br /> ■ ■ <br /> NM IINMI <br /> II II <br /> s <br /> 6515 Ridgeview Circle <br /> Edina, Minnesota 55439 <br /> Donald R. DeVoe (952) 941-5972 <br /> dondevoe@yahoo.com <br /> November 5, 2001 <br /> Catherine Mehelich, Director <br /> Department of Economic Development <br /> City of Elk River <br /> 13065 Orono Parkway <br /> Elk River, MN 55330 <br /> Dear Catherine, <br /> Minnesota Fabrication & Machine would like to request a one month delay on their <br /> application for a$50,000 Economic Development Micro Loan, until Monday,December 3. <br /> When MF&M originally applied for a loan they indicated 2 uses: <br /> • 1. To assist in purchasing capital equipment from HMP Corp. so MF&M could <br /> remain in Elk River. <br /> 2. To assist in remodeling their plant so they could lease out unneeded space. <br /> However, MF&M feels the best long term use of their plant and real estate is as <br /> redevelopment property, not as a continuing manufacturing facility. They feel that within 5- <br /> 10 years they will raze the plant and redevelop the property into 4 sites. For this reason they <br /> are not interested in upgrading the present facility to qualify for a remodeling loan under the <br /> present guidelines. <br /> MF&M is interested in resubmitting their Micro Loan Application to request assistance in <br /> purchasing manufacturing equipment necessary to keep MF&M in Elk River. They will be <br /> submitting a new application within the next 2 weeks. <br /> I apologize for the delay, but I feel it in the best interests of all parties involved. If you have <br /> any questions or if I can offer any additional assistance, please call. <br /> Sincerely, <br /> Donald R. DeVoe <br /> • cc: Donald E. Millslagle, President <br />