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RESOLUTION 10-O1 <br />A RESOLUTION OF THE ECONOMIC DEVELOPMENT AUTHORITY <br />FOR THE CITY OF ELK RIVER <br />A RESOLUTION AUTHORIZING THE ECONOMIC DEVELOPMENT AUTHORITY <br />FOR THE CITY OF ELK RIVER (ELK RIVER EDA) TO SUBMIT AN <br />APPLICATION FOR ENERGY PROGRAMS IN COMMERCIAL & INDUSTRIAL <br />BUILDINGS REVOLVING LOAN PROGRAM <br />WHEREAS, Elk River is designated as Energy City of Minnesota since 1997, and is a <br />leader in the State of Minnesota for the demonstration of energy efficient and renewable <br />energy systems; and <br />WHEREAS, the Elk River EDA is committed to encouraging and promoting <br />opportunities for energy efficiency and renewable energy systems in commercial and <br />industrial buildings; and <br />WHEREAS, the Elk River EDA has the financial capability to match up to $265,000 <br />through its EDA Micro Loan Fund, in-kind staff and advertising/marketing support, and <br />applicant loan origination fees for the purpose of implementing the program; and <br />WHEREAS, the Elk River EDA has the management capacity and experience to develop <br />and operate a revolving loan fund program for the purpose of financing energy efficiency <br />improvements in commercial, industrial and nonprofit facilities; and <br />NOW, THEREFORE, BE IT RESOLVED upon approval of its application by the <br />Minnesota Department of Commerce Office of Energy and Security, the Elk River EDA <br />may enter into an agreement with the Minnesota Department of Commerce Office of <br />Energy and Security for the Energy Programs in Commercial and Industrial Buildings, <br />and the EDA Executive Director is hereby authorized to execute such agreements as are <br />necessary to implement the program on behalf of the Elk River EDA. <br />Passed and adopted this 8th day of February 2010. <br />1 <br />C~ ~~ <br />Patrick Dwyer, President <br />ATTEST: <br />Catherine Mehelich, Executive Director <br />