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APR 14 1999 <br /> • t <br /> PELSTRING CAPITAL CORPORATION <br /> 1200 Osborne Road00 Fridley,MN 55432 <br /> April 12, 1999 <br /> Mr. Paul Steinman <br /> Elk River EDA <br /> 13065 Orono Parkway <br /> Elk River, MN 55330 <br /> Dear Mr. Steinman: <br /> Enough reflection, analysis and soul searching...THE COMMUNITY VENTURE <br /> NETWORK is BACK !!!! <br /> • After encouragement from a number of key communities and staff people, we are <br /> reformulating the Community Venture Network ("CVN"). The new "CVN" can <br /> be a key element of your marketing program, effective June 1, 1999. <br /> The staff of Public Resource Group and Pelstring Capital Corporation are now <br /> appropriately "re-aligned" to support the program. Dennis Welch and Leonard <br /> Kirscht have joined the SBA staff of Signal Bank and Rob Tryon is an investment <br /> banker with John G. Kinnard. They are each in a good position to support the <br /> program through prospect referrals and potential project financing. <br /> Pelstring Capital Corporation will support the program with an additional full time, <br /> professional, staff person. Applications for this position are currently being <br /> reviewed and we hope to have this person on staff, prior to the first meeting, early <br /> in June. <br /> We will be "combining" the Midwest Community Venture Network (serving Iowa, <br /> the Dakotas and Wisconsin) and the Minnesota Community Venture Network into <br /> one CVN, and limiting the program membership to 18 communities/development <br /> organizations. <br /> • <br /> (612)792-4227*800-642-6258 Git'(612)792-4236 Faxct@ pelstring@earthlink.net <br />