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Cin~ Council Minutes <br />November 20, 2006 <br />2. APPLICATIONS TO BE ACCEPTED UNTIL <br />DECEMBER 31, 2007. <br />Page 5 <br />3. IN ADDITION TO THE PERMITTED FUND USES <br />LISTED IN SECTION II(1) OF THE MICRO LOAN <br />FUND POLICY, THE PERMITTED FUND USES <br />FOR THIS SPECIFIC PROGRAM INCLUDES <br />~Y/ORKING CAPITAL, REFINANCING OF <br />EXISTING DEBT, AND INVENTORY. <br />4. BORROWER MUST BE LOCATED IN THE <br />DOWNTOWN DISTRICT (DD). <br />MOTION CARRIED 5-0. <br />6.2. Resolution for Redevelopment District No. ?and Project Plan for itledical Technology, <br />Center Elk Pads Iusiness Part: Third addition-PnLXic Hea~i,rv <br />It-Is. Mehelich stated Sherburne CounnT is requesting approval of the redevelopment <br />program For redevelopment district 2 and project plan for a technolog}• center for <br />Uiutedl-Iealth. She stated this project is suiular to the Target Technology Center drat vas <br />approved in Z00~. <br />A~fayor Itilinzing opened the public hearing. <br />Brian Benson, Sherburne Count}' ildministrator-Stated he is pleased with the support of <br />Elk River city staff and that the purchase agreement is contingent upon the cin- permitting <br />approvals. <br />A~Ia~-or Ilinzing closed the public hearing. <br />Councilmember Dietz questioned what the count}> intends to do with the rest of the <br />propern~ they o~vn. <br />A~Ir. Benson stated it would be for future count}' expansion. <br />1~Ia}'or Iilinzing expressed her congratulations to the ne~v business conung to Ells River. <br />MOVED BY COUNCILMEMBER GUMPHREY AND SECONDED BY <br />COUNCILMEMBER FARBER TO ADOPT RESOLUTION OG-226 FINDING <br />THAT THE SHERBURNE COUNTY HOUSING AND REDEVELOPMENT <br />AUTHORITY'S REDEVELOPMENT PROGRAM FOR REDEVELOPMENT <br />DISTRICT NO. 2 AND PROJECT PLAN FOR THE TECHNOLOGY CENTER <br />CONFORM TO THE GENERAL PLANS FOR THE DEVELOPMENT AND <br />REDEVELOPMENT OF THE CITY OF ELK RIVER. MOTION CARRIED 5-0. <br />