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THE ECONOMIC DEVELOPMENT AUTHORITY <br />OF THE CITY OF CENTERVILLE, MINNESOTA <br />RESOLUTION #EDA 19-05 <br />RESOLUTION ESTABLISHING THE CENTERVILLE ECONOMIC DEVELOMENT <br />AUTHORITYÓS REVOLVING LOAN AND GRANT PROGRAM <br />WHEREAS, Economic Development Authority endeavors to incentivize businesses and <br />commercial building owners to invest in their properties, and; <br />WHEREAS, one tool to aid in that goal is a revolving loan and grant program which funds <br />capital improvements to businesses properties, through low interest loans and small grants, and; <br />WHEREAS, a program Guidelines and Regulations Handbook has been drafted and is attached <br />to this resolution and adopted herewith as the guiding document for the implementation of the <br />program. and; <br />NOW THEREFORE, BE IT RESOLVED THAT, the city of CentervilleÓs Economic <br />Development Authority Establishes a Revolving Loan and Grant Program based on the attached <br />Guidelines and Regulations Handbook. <br />THE VOTE OF THE BOARD OF COMMISSIONERS FOR ADOPTION OF THIS <br />RESOLUTION WAS UNANIMOUSLY IN FAVOR OF THE RESOLUTION. <br />PASSED AND ADOPTED by the Economic Development Authority of the City of Centerville <br />th <br />this 19 day of June, 2019. <br />Jeff Hanzal, President <br />Attest: <br />Secretary, Teresa Bender <br />3 <br /> <br />