EDSR MEMORANDUM 09-12-1994 - Laserfiche WebLink

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EDA Agenda Memo Page 4 September 12, 1994 • 10. Proposal from Anoka-Hennepin TC Included in the agenda packet is a proposal from Linda Browning, a customized training consultant at Anoka-Hennepin Technical College, 1355 West Highway 10, Anoka, Minnesota. The proposal attempts to address the City's review and permitting process so as to better improve it and ensure that there are no gaps in the process. Ms. Browning is an excellent fit for this assignment as she was formerly employed by the City of Calgary during the time its population mushroomed. Consequently, she is familiar with the gaps and pitfalls that may occur in a rapidly-growing community. She reviewed and implemented similar processes for the City of Calgary and ,Ms. Browning brings a wealth of experience to this assignment. It is hoped that members of the EDA's review and permitting process will have an opportunity to meet personally with Linda Browning prior to any action on this proposal. At this writing, a meeting is scheduled, and, perhaps the Task Force members can bring forth a recommendation on the proposal from Anoka-Hennepin Technical College. • 11. Loan Request from Elk River Auto Mall L.L.C. This item is outlined in greater detail in a separate memo in the agenda packet. The enclosed information is a copy of a memo that was sent to the EDA Finance Committee on this matter. A Finance Committee meeting has been scheduled for the afternoon of September 12, 1994. A verbal update on the recommendation from the Finance Committee will be made to the EDA. ACTION REQUESTED Assuming a positive recommendation from the Finance Committee, the EDA is asked to approve a Micro Loan in the amount of $50,000 to Elk River Auto Mall L.L.C. The loan will be secured by: • A second real estate mortgage; • A Promissory Note; and, • A Guaranty of Mortgage. The loan will be repaid over fifteen years beginning with an interest rate of 7.75 percent (the current prime rate). The rate will be adjusted • at six month intervals - floating with prime.