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ACTION REQUESTED <br /> The EDA is asked to appoint one of its members to the Comp Plan <br /> Steering Committee. <br /> 13. Micro-Loan Policy Guidelines <br /> From time to time,it may be appropriate for the EDA and its Finance <br /> Committee to review the Micro-Loan Policy guidelines for changes <br /> and/or corrections. For example, a possible change might be that of <br /> increasing the loan limits from $50,000 to, say, $75,000 or $100,000. <br /> This change may apply only to companies that have in excess of, say, <br /> 100 employees so that a small user isn't automatically eligible for the <br /> higher amounts. This suggestion is particularly germane in light of a <br /> proposed expansion by an existing Elk River company. Information on <br /> the expansion is outlined in greater detail in the Prospect Status <br /> Report. <br /> The company seeks a variety of sources of financing to assist with the <br /> purchase of new machinery and equipment as part of an expansion. <br /> An EDA Micro-Loan in the amount of $50,000 only begins to approach <br /> • the company's equipment needs. However, a larger EDA loan used in <br /> conjunction with, say, an Initiative Fund loan may go a long way in <br /> financing new equipment purchases. <br /> Additional insights on this proposed policy guideline change will be <br /> presented at the EDA meeting. <br /> 14. Ice Arena Feasibility Study <br /> Staff and EDA President Jeff Gongoll will provide Commissioners with <br /> an update on the Ice Arena Feasibility Study at the April 11th <br /> meeting. <br /> 15. Prospect Status Report <br /> The Prospect Status Report has been sent under separate cover. <br />