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0 The purpose of the Focus Study would be to identify perceived <br /> strengths, weaknesses, threats, and opportunities for the Elk <br /> River Central Business District. If one subscribes to the <br /> belief that a healthy downtown contributes to the overall <br /> vitality of a community, then it is appropriate to consider <br /> underwriting a portion of this project. Mr. Houlton and/or <br /> other members of a downtown marketing and advertising committee <br /> have been asked to make a presentation to the EDA on this <br /> project. <br /> ACTION REQUESTED <br /> Following a presentation by Mr. Houlton, the EDA will be asked <br /> to underwrite the cost of a Retail Focus Group Study. <br /> 8. LOAN REQUEST FROM INDY LUBE, INC. <br /> A separate memo has been prepared for this agenda item. <br /> 9 . MULTI-COUNTY DEVELOPMENT COMPANY <br /> Commissioners will recall at its March meeting, the EDA <br /> "pledged" $1,000 to purchase stock in the Coon Rapids <br /> Development Company - assuming the Small Business <br /> Aft Administration (SBA) approved its request to expand its service <br /> territory to include Sherburne County. This expansion <br /> contained some fundamental assumptions, among them, Coon Rapids <br /> would change its name to reflect a new, multi-county focus, <br /> shareholders from Sherburne County would become directors on an <br /> expanded board, and, retained earnings from the expanded <br /> multi-county organization would be expended throughout the <br /> service territory. I regret to inform you that the Coon Rapids <br /> Board changed its thinking and presented Sherburne County <br /> organizations with a new option, that is outlined in greater <br /> detail as an exhibit in the agenda packet. Namely, the new <br /> scenario suggests: <br /> - Coon Rapids would not change its name, rather, it would <br /> expand into Sherburne County dba (doing business as) <br /> Central Region Development Company. <br /> - The existing Coon Rapids Board would also act as the <br /> Central Region Board. <br /> - No financial participation (pledges) would be expected <br /> from Sherburne County entities . <br /> - Retained earnings from the multi-county service territory <br /> would be expended in one limited geographic area - the <br /> • City of Coon Rapids. <br />