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•une 13, 2000 INITIATIVE <br /> FOUNDATION <br /> Patrick Klaers, City Administrator <br /> City of Elk River <br /> 13065 Orono Pkwy <br /> PO Box 490 <br /> Elk River,MN 55330-0490 <br /> Dear Mr. Klaers: <br /> The Initiative Foundation would like to thank the City of Elk River for the $5,000 contribution <br /> made to the Sherburne County Capacity Fund Campaign. We are grateful for your interest in <br /> and support of our programs and are pleased to provide you with a progress report on various <br /> activities in our 14 county service area. At this time, we would like to invite you to continue to <br /> support our programs through an additional annual contribution towards our Phase IV(1997- <br /> 2002) Capacity Fund Campaign. <br /> ain our 14-year history,the Initiative Foundation has improved the quality of life in the region by: <br /> • Distributing$22 million in grants and loans <br /> • Creating or retaining 5,159 jobs <br /> • Leveraging an additional $67.7 million in private business investment <br /> • Training over 500 community leaders <br /> The special partnership we share with generous friends like you has enabled the Initiative <br /> Foundation to distribute $949,428 in grants & loans in Sherburne County alone. <br /> Please note the enclosed project list,which details the work we have supported. We have been, <br /> and continue to be, an active force for economic development, community planning, leadership <br /> development and donor services in Central Minnesota. Because of your support the Initiative <br /> Foundation is able to provide gap financing for new and expanding businesses. In addition we <br /> provide grant dollars to area non-profit organizations, schools and units of local government, in <br /> order to keep our communities viable and healthy. Your gift does have direct impact on your <br /> community as shown with recent projects we've funded: <br /> CENTRAL MINNESOTA'S <br /> INITIATIVE FUND <br /> • 405 FIRST STREET SE <br /> LITTLE FALLS. MN 56345 <br /> PRONE: 320.632.9255 <br /> FAX. 320.632.9258 <br /> WWW.IFOUND.ORG <br />