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ARDEN HILLS EDA JOINT MEETING WITH EDC – JANUARY 26, 2015 2 <br />3. NEW BUSINESS <br /> <br />A. EDC 2014 Annual Report and 2015 Work Plan <br /> <br />Executive Director Hutmacher stated that the EDA approved the 2014 EDC Work Plan at the <br />January 27, 2014, joint meeting with the EDC. The EDC made significant progress on its 2014 <br />goals as summarized below. <br /> <br />New Member Recruitment <br /> EDC members continue to recruit new members. <br /> <br />Business Retention and Expansion Program <br /> Attended training offered by University of Minnesota Extension. <br /> Met with several communities which have completed BRE programs. <br /> Discussed program objectives and processes. <br /> Obtained quotes from University of Minnesota Extension and St. Paul Area Chamber of <br />Commerce. <br /> Prepared recommendation for EDA. <br /> <br />Marketing and Outreach <br /> Worked with Newsletter Committee to write and publish business-related newsletter <br />topics. <br /> Preparing a business inventory and contact list for the Red Fox/Grey Fox Business <br />District. <br /> Planned and promoted State of the City events on September 18 and 23. <br /> Drafted script for City video tour. Worked with CTV on filming locations and Mayoral <br />introduction/wrap-up. <br /> Working with CTV on editing, voiceover, and scheduling testimonials for City video <br />tour. <br /> Working with SPACC to schedule business visits. <br /> <br />Revolving Loan Program <br /> Research on existing revolving loan funds completed. <br /> Communicated with DEED to determine program requirements. <br /> Met with several local commercial bankers and SBA loan providers. <br /> Provided information to EDC and EDA. <br /> Working with lenders to determine underwriting, program costs, and processes. <br /> <br />Executive Director Hutmacher reported that the EDC approved their 2015 Work Plan on <br />December 3, 2014. She reviewed the proposed work plan and noted that EDA review and <br />approval of the work plan was requested. <br />