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Cin~ Council ~tinuces <br />No~-ember 20, 200G <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 />CORKING 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 />G?. Resolution for Redevelopment District No ~ and Project Phn for ItIediczl Technology <br />Center, Ell: Pads Business Parl: Third Addition-PuLlic Heari~~a <br />It~Is. Ivlehelich stated Sherburne Count}r is requesting approval of die redevelopment <br />grogram for redevelopment district 2 and project plan for a technolog}' center for <br />UnitedI-iealth. She stated dzis project is suni.Iar to the Target Technology Center drat was <br />approved in 200. <br />A%layor Itiluzzing opened the public hearing. <br />Brian Benson, Sherburne Count}j Administrator-Stated he is pleased ~~7th the support of <br />Elk River city staff and dzat die purchase agreement is contingent upon the cirj=permitting <br />approvals. <br />Arlayor Iilinzing closed the public hearing. <br />Couneilmember Dietz questioned what die count}' intends to do with the rest of the <br />property the}= o~vn. <br />R~Ir. Benson stated it would be for future count}' expansion. <br />14Ia}=or Iilinzing expressed her congratulations to the ne~v business coming to Elk River. <br />MOVED BY COUNCILMEMBER GUMPHREY AND SECONDED BY <br />COUNCILMEMBER FARBER TO ADOPT RESOLUTION OG-126 FINDING <br />THAT THE SHERBURNE COUNTY HOUSING AND REDEVELOPMENT <br />AUTHORITY'S REDEVELOPMENT PROGRAM FOR REDEVELOPMENT <br />DISTRICT N0.2 AND PROJECT PLAN FOR THE TECHNOLOGY CENTER <br />CONFORM TO THE GENERAL PLANS FOR THE DEVELOPMENT AND <br />REDEVELOPMENT OF THE CITY OF ELR RIVER. MOTION CARRIED 5-0. <br />