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