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AttachmentE <br /> <br /> <br /> <br /> <br /> <br /> <br />Approved: October 28, 2013 <br /> <br />CITY OF ARDEN HILLS, MINNESOTA <br />SPECIAL ECONOMIC DEVELOPMENT AUTHORITY MEETING <br />AUGUST 26, 2013 <br />CITY COUNCIL CHAMBERS <br /> <br /> <br />CALL TO ORDER/ROLL CALL <br /> <br /> <br />Pursuant to due call and notice thereof, President Grant called to order the special <br />Economic Development Authority (EDA) meeting at 7:38 p.m. <br /> <br />Present: <br /> EDA President David Grant; EDA Commissioners Brenda Holden, Fran <br />Holmes, Dave McClung, and Ed Werner <br /> <br />Absent: <br /> None <br /> <br />Also present <br /> : Secretary Patrick Klaers; Executive Director Jill Hutmacher; Community <br /> <br />Development Intern Matthew Bachler; and Deputy Clerk Amy Dietl <br /> <br />1. APPROVAL OF AGENDA <br /> <br />MOTION: President Grant moved and EDA Commissioner Holmes seconded a motion <br />to approve the meeting agenda as presented. The motion carried <br />unanimously (5-0). <br /> <br />2. UNFINISHED BUSINESS <br /> <br /> <br />A. EDA Revolving Loan Program <br /> <br /> <br />Community Development Intern Bachler <br /> stated that the EDA Revolving Loan Fund (RLF) <br />was discussed at two previous EDA meetings. At these meetings, general background <br />information on the RLF was provided. Topics covered included the establishment of the RLF, <br />the use of funds for business expansion projects, the current financial status of the RLF, and how <br />the Minnesota Business Subsidy Law will impact the use of the RLF going forward. The RLF <br />currently has a cash balance of approximately $155,000. <br /> <br /> <br />