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ELK RIVER ECONOMIC DEVELOPMENT AUTHORITY <br /> MEMORANDUM <br /> TO: EDA FINANCE COMMITTEE <br /> FROM: WILLIAM RUBIN, EXECUTIVI J� <br /> DIRECTOR �/ V <br /> DATE: SEPTEMBER 12, 1994 <br /> SUBJECT: LOAN REQUEST FROM ELK RIVER <br /> AUTO MALL L.L.C. <br /> INTRODUCTION <br /> • Elk River Auto Mall L.L.C. (Limited Liability Company), a group comprised <br /> of Mr. John C. Weicht, John C. Weicht and Associates; Mr. Jim Rogness, J.R. <br /> Tech Automotive; and Mr. Paul J. Vincent, a single individual, requests a <br /> loan from the EDA Micro Loan fund in the amount of $50,000. This loan <br /> would be used by Elk River Auto Mall L.L.C. to leverage primary financing <br /> and individual investor equity for the construction of a 16,000 square foot <br /> multi-tenant auto mall and an adjacent 5,000 square foot multi-tenant <br /> commercia]retail building on the same parcel on land. <br /> BACKGROUND <br /> Space in the multi-tenant auto mall is broken down as follows: <br /> Tires Plus 5,000 square feet <br /> J.R. Tech Automotive 6,000 square feet <br /> ABRA Auto Body 5,000 square feet <br /> 16,000 square feet <br /> Space in the multi-tenant commercial/retail building is broken down as <br /> follows: <br /> Mr. Movies 4,000 square feet <br /> Uncommitted space 1,320 square feet <br /> P.O. Box 490 • 13065 Orono Parkway • Elk River, MN 55330-1743 • (612) 441-7420 • Fax: (612) 441-7425 <br /> Equal Opportunity Housing and Equal Opportunity Employment <br />