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NEW BUSINESS —4A <br /> �r' <br /> ,-ARZEN fMLS <br /> MEMORANDUM <br /> DATE: January 27, 2014 <br /> TO: Economic Development Authority President and Commissioners <br /> FROM: Jill Hutmacher, Community Development Director <br /> SUBJECT: 2013 EDC Annual Report <br /> Requested Action <br /> Accept the 2013 EDC Annual Report. <br /> Discussion <br /> The EDC approved the 2013 Work Plan at its December 5, 2012, meeting. The 'Nark Plan was <br /> reviewed and approved by the Economic Development Authority (EDA) at a joint meeting with <br /> the EDC on January 28, 2013. Following is a summary of work completed towards the 2013 <br /> EDC goals.. <br /> New Member Recruitment <br /> Steve Heikkila was appointed to the EDC by the City Council on May 13, 2013. David Radziej <br /> was appointed to the EDC on January 13, 2014. Councilmember Werner has announced open <br /> EDC positions at televised City Council meetings, and information on open commission <br /> pod ti ons as wel I as appi 1 Cdi on mater!aI s are posted on the Ci ty's web51#e. <br /> Revolving Loan Program <br /> Research on the hi story, on gi nal f undi ng, and opti ons f or f uture use of the Ci ty s revol A ng I oan <br /> fund has been completed_ The EDA has provided direction regarding changes to the loan <br /> program including eligible projects, interest, and term. The EDC has provided feedback on the <br /> revolving loan program, and staff is seeking additional feedback from local bankers. All <br /> comments will be compiled for presentation to the EDA in early 2014. <br /> City of Arden Hills <br /> Page 1 of 2 <br />