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ECONOMIC DEVELOPMENT AUTHORITY <br />OF THE CITY OF ELK RIVER, MINNESOTA <br />COUNTY OF SHERBURNE <br />STATE OF MINNESOTA <br />RESOLUTION NO. 20-03 <br />RESOLUTION APPROVING A COVID-19 SMALL BUSINESS EMERGENCY <br />MICROLOAN PROGRAM <br />WHEREAS, the Authority was created pursuant to Minnesota Statutes, Sections 469.090 <br />through 469.1081, as amended, and was authorized to transact business and exercise its powers by a <br />resolution adopted by the City Council of the City of Elk River, Minnesota (the "City'); and <br />WHEREAS, the Authority and the City have undertaken a program to promote economic <br />development and job opportunities and promote the development and redevelopment of land which is <br />underutilized within the City; and <br />WHEREAS, the spread of COVID-19 in the United States and Minnesota has raised serious <br />public health concerns; and <br />WHEREAS, on March 11, 2020, the World Health Organization determined that the <br />COVID-19 outbreak constitutes a pandemic, and on March 13, 2020, President Donald Trump <br />declared a national state of emergency as a result of the pandemic; and <br />WHEREAS, on March 13, 2020, Governor Tim Walz issued Emergency Executive <br />Order 20-01 declaring a state of peacetime emergency to address the COVID-19 pandemic in <br />Minnesota,; and <br />WHEREAS, the Governor has subsequently issued additional Executive Orders to combat the <br />impacts of COVID-19 within the State of Minnesota, which include closures of schools, bars, <br />restaurants, and other places of public accommodation, and directing Minnesotans to stay at home <br />(with exceptions for obtaining necessary supplies, healthcare and similar needs) unless they are engaged <br />in critical sector work; and <br />WHEREAS, on April 3, 2020, the Mayor of the City issued a proclamation declaring a local <br />emergency, which proclamation was extended by a resolution approved by the City Council of the City <br />on April 6, 2020; and <br />WHEREAS, many businesses within the City have been economically impacted by the <br />Governor's Emergency Executive Orders in response to the COVID-19 pandemic; and <br />WHEREAS, the Economic Development Authority of the City of Elk River (the "Authority' <br />has the power of a housing and redevelopment authority and an economic development authority and <br />may provide forgivable loans to businesses for purposes of preventing blight and economic <br />deterioration and preventing chronic unemployment, and <br />