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ECONOMIC DEVELOPMENT AUTHORITY <br /> OF THE CITY OF ELK RIVER, MINNESOTA <br /> COUNTY OF SHERBURNE <br /> STATE OF MINNESOTA <br /> RESOLUTION NO. 20-03 <br /> RESOLUTION APPROVING A COVID-19 SMALL BUSINESS EMERGENCY <br /> MICROLOAN PROGRAM <br /> WHEREAS, the Authority was created pursuant to Minnesota Statutes, Sections 469.090 <br /> through 469.1081, as amended, and was authorized to transact business and exercise its powers by a <br /> resolution adopted by the City Council of the City of Elk River,Minnesota (the "City';and <br /> WHEREAS, the Authority and the City have undertaken a program to promote economic <br /> development and job opportunities and promote the development and redevelopment of land which is <br /> underutilized within the City;and <br /> WHEREAS, the spread of COV-ID-19 in the United States and Minnesota has raised serious <br /> public health concerns;and <br /> WHEREAS, on March 11, 2020, the World Health Organization determined that the <br /> COVID-19 outbreak constitutes a pandemic, and on March 13, 2020, President Donald Trump <br /> declared a national state of emergency as a result of the pandemic; and <br /> WHEREAS, on March 13, 2020, Governor Tim Walz issued Emergency Executive <br /> Order 20-01 declaring a state of peacetime emergency to address the COVID-19 pandemic in <br /> Minnesota,;and <br /> WHEREAS,the Governor has subsequently issued additional Executive Orders to combat the <br /> impacts of COVID-19 within the State of Minnesota, which include closures of schools, bars, <br /> restaurants, and other places of public accommodation, and directing Minnesotans to stay at home <br /> (with exceptions for obtaining necessary supplies, healthcare and similar needs) unless they are engaged <br /> in critical sector work;and <br /> WHEREAS, on April 3, 2020, the Mayor of the City issued a proclamation declaring a local <br /> emergency,which proclamation was extended by a resolution approved by the City Council of the City <br /> on April 6,2020;and <br /> WHEREAS, many businesses within the City have been economically impacted by the <br /> Governor's Emergency Executive Orders in response to the COVID-19 pandemic;and <br /> WHEREAS,the Economic Development Authority of the City of Elk River (the "Authority' <br /> has the power of a housing and redevelopment authority and an economic development authority and <br /> may provide forgivable loans to businesses for purposes of preventing blight and economic <br /> deterioration and preventing chronic unemployment;and <br />