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Elk River Auto Mall L.L.C. Page 4 <br /> September 12, 1994 <br /> a ACTION REQUESTED <br /> Upon its review of the Elk River Auto Mall L.L.C. loan request, the EDA <br /> Finance Committee is asked to make a recommendation to the EDA <br /> Commissioners regarding the funding of this loan. The EDA will meet on the <br /> evening of September 12, 1994, to consider this matter. <br /> As with previous EDA loans, this loan would be secured by a second real <br /> estate mortgage on the Auto Mall site plus a promissory note and personal <br /> guaranty signed by the persons involved with the Elk River Auto Mall L.L.C. <br /> AVAILABILITY OF FUNDS <br /> The EDA Micro Loan had a cash balance (that is, funds available for eligible <br /> projects) of$148,715.17 as of August 31, 1994. <br /> PRESENTATION <br /> Mr. John C. Weicht, representing Elk River Auto Mall L.L.C. will make a <br /> short presentation to the Finance Committee regarding the loan request. <br /> S <br /> • <br />