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APS 19 194 .<, <br /> �...:. <br /> ANOKA ELECTRIC COOPERATIVE <br /> • 2022 NORTH FERRY STREET ANOKA,MINNESOTA 55303 <br /> PHONE: (612)323-2600 <br /> MN WATTS 1-800-642-1672 <br /> April 15, 1994 <br /> Mr. Bill Rubin INFO <br /> City of Elk River <br /> 13065 Orono Parkway <br /> Elk River, MN 55330 <br /> Dear Mr. Rubin: <br /> During February of this year, you received a letter from AEC notifying you of the proposed <br /> Rural Economic Development Loan Program that was being reviewed by Congress. On March <br /> 31, 1994 AEC received from the REA (Rural Electrification Administration) the final Rule on <br /> the program as approved by Congress and published in the Federal Register on March 14, 1994. <br /> From both the information we received, and from telephone conversations with REA <br /> representatives; AEC has learned that projects located within local government jurisdictions with <br /> populations greater than 2,500 are not eligible for REA Rural Economic Development Loan and <br /> Grant funding. <br /> • The 2,500 population requirement is cited in Subpoint B- Rural Development Loan and Grant <br /> Program (1703.12 definitions). The Subpoint discusses the fact that approved projects must be <br /> in rural areas, as defined in section 13 of the Act (7 U.S.C. 940c). Additionally, local <br /> jurisdictions with less than 2,500 population located within the Metropolitan Statistical Area <br /> (MSA) will not receive the required points necessary for project funding. Such jurisdictions <br /> cannot be defined as "rural areas that are normally underdeveloped and financially depressed so <br /> that funding by REA does not pose undue competition or other adverse effects." The rural area <br /> requirement holds true for loans and revolving loan funds as well as grants in conjunction with <br /> loans. <br /> We apologize for any inconvenience we have caused you in our inquiry to determine local <br /> development needs and desires, and in our investigation of opportunities to provide economic <br /> assistance by serving as a conduit for federal funding. <br /> If you have any questions, feel free to contact Doug Uhrhammer, AEC's Manager of <br /> Community Development and Public Affairs at 323-2723. <br /> Sincerely, <br /> AN i; ELECTRIC COOPERATIVE <br /> Ao <br /> Rick Newland <br /> • General Manager <br /> cc: Doug Uhrhammer <br /> "Committed to customer satisfaction <br /> through service, leadership and involvement." <br />