HomeMy WebLinkAbout2018-012 EDARCommissioner April Graves introduced the following resolution
and moved its adoption:
EDA RESOLUTION NO. 2018-12
RESOLUTION APPROVING POLICY AND PROCEDURES FOR
REVOLVING LOAN FUND
WHEREAS, the Economic Development Authority of Brooklyn Center, Minnesota
(the "EDA") acknowledges the need to provide financial assistance to businesses to further the
economic development objectives of the City of Brooklyn Center (the "City"); and
WHEREAS, the EDA has determined to adopt written procedures regarding how the
City will carry out its revolving loan fund program, and to that end has caused to be prepared a
document titled Policy and Procedures for the Revolving Loan Fund of the Brooklyn Center
Economic Development Authority as set forth in Exhibit A attached hereto (the "Policy").
NOW, THEREFORE, BE IT RESOLVED by the Board of Commissioners of the
Economic Development Authority of Brooklyn Center, Minnesota (the "Board"), as follows:
The Board hereby adopts the Policy.
2. EDA staff are authorized to take all actions necessary to carry out the Policy.
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July 23,_2018
Date President
The motion for the adoption of the foregoing resolution was duly seconded by Commissioner
Kris Lawrence-Anderson
and upon vote being taken thereon, the following voted in favor thereof:
Tim Willson, April Graves, Kris Lawrence-Anderson, Dan Ryan
and the following voted against the same:
whereupon said resolution was declared duly passed and adopted.