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EDA RESOLUTION 93 - 2 <br /> A RESOLUTION FOR THE ECONOMIC DEVELOPMENT AUTHORITY <br /> A RESOLUTION REQUESTING THAT THE COON RAPIDS DEVELOPMENT <br /> COMPANY EXTEND ITS SERVICE TERRITORY TO INCLUDE THE CORPORATE <br /> LIMITS OF ELK RIVER, MINNESOTA <br /> WHEREAS, the Coon Rapids Development Company (CRDC) is a <br /> private, not-for-profit organization which <br /> pre-screens, packages, and processes Small Business <br /> Administration 504 loans for businesses in Anoka <br /> County, and; <br /> WHEREAS, in 1992, the CRDC Shareholders approved a change in <br /> its by-laws which enables CRDC to provide SBA loan <br /> processing to other communities upon request, and; <br /> WHEREAS, the Economic Development Authority for the City of Elk <br /> River (EDA) is a public body corporate and politic <br /> that possesses the powers necessary or convenient to <br /> carry out the objectives of pro-active economic <br /> development as provided by Minnesota Statute, and; <br /> WHEREAS, a fundamental objective of the Elk River EDA is to <br /> provide financing assistance to support the expansion, <br /> • consolidation, or relocation plans of small businesses <br /> in the community, and; <br /> WHEREAS, a primary financing program to support this objective <br /> is the SBA 504 loan program, and; <br /> WHEREAS, a not-for-profit organization similar to the CRDC does <br /> not exist in Elk River or in Sherburne County. <br /> NOW, THEREFORE, BE IT RESOLVED by the Economic Development <br /> Authority for the City of Elk River: <br /> 1. That it supports the goal of providing small <br /> businesses in Elk River with improved access to <br /> SBA loan programs . <br /> 2 . It hereby requests that the CRDC provide SBA loan <br /> processing to the City of Elk River. <br /> a <br />