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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 August 19, 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. We received a microloan application from Distinctive Iron. They are planning <br />to relocate their operations within the city, and have requested gap financing from the city, county and <br />state. The finance committee will review their microloan application at their meeting on August 27, 2019. <br /> <br />MISCELLANEOUS <br />Public Art Initiative <br />The RFP for Public Art has been published online and submitted to local artists in addition to the <br />Central MN Arts Board. We have one registered artist. The survey has hit social media, and the <br />community is very engaged and excited about the public art initiative. We received over 150 responses to <br />our survey! The survey closes October 1, 2019. The results will be sent to all registered artists. <br /> <br />Revolving Loan Fund Balance Reports <br />At the request of the 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 /> <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 />