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Request for Action <br /> <br /> <br /> <br /> <br /> <br />To Item Number <br />Economic Development Authority 8.1 <br />Agenda Section Meeting Date Prepared by <br />Work Session May 16, 2022 Brent O’Neil, Economic Development Director <br />Item Description Reviewed by <br />Existing Microloan Request - Orluck Industries Cal Portner, City Administrator <br />Reviewed by <br /> <br /> <br />Action Requested <br />Item is presented for discussion purposes. <br /> <br />Background/Discussion <br />Orluck Industries has an existing loan through the EDA for equipment at its Elk River facility. Staff has been in <br />discussion with Orluck regarding the loan and will use this time to update the EDA. We will likely be bringing a <br />request to alter the loan to the June EDA meeting. This work session will provide feedback to staff ahead of <br />drafting documentation for a modification in June. <br /> <br />Financial Impact <br />N/A <br /> <br />Mission/Policy/Goal <br />Support Elk River’s existing businesses through relationship building, programmatic offerings, and high-quality <br />city services. <br /> <br />Attachments <br /> None <br /> <br /> <br />The Elk River Vision <br />A welcoming community with revolutionary and spirited resourcefulness, exceptional <br /> <br />service, and community engagement that encourages and inspires prosperity. <br /> Updated: August 2020 <br />