6.2 ED SR 09-19-2016 - Laserfiche WebLink

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Apex Embroidery Design, Inc. We received two separate financial applications from Apex Embroidery Design, Inc. this week. Apex provides embroidery programing services to apparel decorators mainly in the Midwest. They currently lease a 7,500 square foot building in Ramsey, MN and are growing out of their space. They are proposing th to construct a new 13,312 sq. ft. facility located at 9775 158 Circle NW. The EDA Finance Committee th will be reviewing these applications at their September 27 meeting. It will go on the EDA/City Council agenda for final action on October 17. MN Marketing Partnership meeting We attended the quarterly MN Marketing Partnership meeting in September. The meeting was held in St. Cloud and included an update from Jeff Rossate, Director of Business Development with DEED. He highlighted the MN Job Creation fund being fully subscribed. Currently, there is no money available for new projects. DEED is working on over 50 manufacturing projects throughout the state. One of those projects is in Elk River. Jeff also discussed upcoming trade shows DEED is participating in the remaining year and other marketing initiatives. International Development Council Annual Conference (IEDC) Amanda will be attending the annual IEDC Conference this year in Cleveland at the end of September. The conference will showcase how economic developers are shaping communities that emerge as stronger and more resilient. There will be several opportunities to learn about new strategies and techniques related to Economic Development and Neighborhood Revival. Back in May, we submitted the Partnership Award entry for the Sportech Inc. project. Unfortunately, we were notified that this project was not chosen to receive an award this year. Revolving Loan Fund Balance Reports At the request of the members, a copy of the Revolving Loan Fund report is attached. Financial Impact None Attachments  Revolving Loan Fund Balance Report (August 2016)