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I~ES~LIJTI~N I ~~01 <br />A RESOLUTION ~~` THE ECN~MIC ~E'VELPNIENT A.~UT~IORIY <br />~a THE CITY r E~~~ I~vER <br />A RESOLUTION AUTHORIZING THE ECONOMIC DEVELOPMENT AUTHORITY <br />FOR THE CITY OF ELK RIVER (ELK RIVER EDA) TO SUBMIT AN <br />APPLICATION FOR ENERGY PROGRAMS 1N COMMERCIAL & INDUSTRIAL <br />BUILDINGS REVOLVING LOAN PROGRAM <br />WHEREAS, Elk River is designated as ElZergy City of Milulesota since 1997, and is a <br />leader iI~ the State of Minnesota for the delnollstration of enelgy efficient and renewable <br />energy systems; and <br />WHEREAS, the Elk River EDA is committed to el~couraging and promoting <br />opportunities for energy ef.~ICiency and Renewable elaergy systems iI1 commercial and <br />industrial buildings; and <br />WHEREAS, the Ells River EDA has the financial capability to Inatch up to $25,000 <br />tluough its EDA Micro Loan Fund, II1~kiI1d staff and advel~tisil~glmarketil~g suppol-t, alld <br />applicant loan origilaation fees for the purpose of implementing the program; and <br />WHEREAS, the Ells River EDA has the Inaliagelnelat capacity and experience to develop <br />and operate a revolving loan fiend program for the purpose of financing energy efficiency <br />improvements in commercial, industrial and nol~proflt facilities; and <br />NOW, THEREFORE, BE IT RESOLVED upon approval of its application by the <br />Milulesota Department of Commerce Oflrce of Energy and Security, the Elk River EDA <br />may enter into an agreela~ent with the Milll~esota Departlaaellt of Commerce Office of <br />Energy and Security for the Energy Programs in Commercial and Industrial Buildings, <br />and the EDA Executive Director is hereby authorized to execute such agreements as are <br />~aecessary to implement the program on behalf of tlae Elk River EDA. <br />Passed and adapted this Sal' day of Febr~~ary 2010. <br />Patrick Dwyer, President <br />ATTEST; <br />Catherine Mel~elich, Executive Director <br />