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Request for Action <br /> <br /> <br />To Item Number <br />Economic Development Authority 7.4 <br />Agenda Section Meeting Date Prepared by <br />General Business June 17, 2019 Amanda Othoudt, ED Director <br />Item Description Reviewed by <br />Director Report Cal Portner, City Administrator <br />Reviewed by <br /> <br /> <br />Action Requested <br />Information presented for discussion to keep the EDA updated on development activity. <br /> <br />Background/Discussion <br />BUSINESS VISITS <br />Completed 11 BR&E visits with more scheduled. Please RSVP if you are able to attend. <br /> <br />NEW PROJECTS <br />Two expansion projects are in the pipeline and staff is working with the applicants on public financing <br />options and applications. <br /> <br />MISCELLANEOUS <br />Finance Committee Meeting Update <br />Staff presented information on the Microloan Essentials class to the Joint Finance Committee and <br />provided recommendations to strengthen our underwriting practices and procedures on our microloans. <br />At the direction of the committee, staff is developing a standardized underwriting criterion. Information <br />will be presented to the EDA at a later date. <br /> <br />Business Park Zoning Proposed Ordinance Amendment <br />The Planning Commission will review a possible ordinance amendment to the Business Park (BP) <br />Zoning District at their July 23, 2019, meeting and provide a formal recommendation to City Council on <br />August 19. The EDA will have an opportunity to review any proposed amendments as well on August <br />and provide a formal recommendation to the council. <br /> <br />Revolving Loan Fund Balance Reports <br />At the request of Commission, a copy of the Revolving Loan Fund report is attached. <br /> <br />Financial Impact <br />N/A <br /> <br />Attachments <br /> Revolving Loan Fund Report <br /> Joint Finance Committee PowerPoint Presentation (June 25, 2019) <br /> PC Staff Report (June 25, 2019) <br /> <br />The Elk River Vision <br />A welcoming community with revolutionary and spirited resourcefulness, exceptional service, and community <br />engagement that encourages and inspires prosperity <br />