2019-09-16 EDA Minutes (signed) - Laserfiche WebLink

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REDA Meeting Minutes—Monday,September 16,2019 Page 16 exact nature of that is up to the community and how it wants to structure the program. Member Willmus asked how the EDA dollars that play into this would be administered. He also asked if there was a possibility that the dollars given by Roseville could flow outside of the city. Mr. Hall indicated there is about a ten-million-dollar loan pool that is made up of a diverse group of capital sources right now. Some of those are pretty open to where the money goes but a number of the funding sources do come with lending restrictions. The way Open to Business approaches all loan requests from businesses, is to determine whether or not it qualifies for a loan and then figure out after the fact where there are dollars that can be matched up for the business. Roseville would be covered under the Ramsey County Open to Business program. Roseville dollars would be kept specific to Roseville programs. He explained with municipalities where Open to Business does participation in the lending, he works with staff or the elected officials in those communities to provide some input in terms of shaping that program and to make sure it is not so restrictive that it does not become useable. President Roe thanked Mr. Hall and Mr. Her for the presentation. c. Presentation By St. Paul Area Chamber Of Commerce Regarding Their City And County Partnerships, Including Ongoing Programs And Services Ms. Shannon Watson, Director of Public Affairs for the St. Paul Area Chamber of Commerce made a presentation to the EDA regarding their City and County Partnerships, including ongoing programs and services. President Roe thanked Ms. Watson for the presentation. d. Presentation Regarding Twin Lakes Parkway Grant Reporting Progress Housing & Economic Development Program Manager Jeanne Kelsey introduced Mr. Nick Stumo-Langer who made a presentation to the EDA regarding Twin Lakes Parkway Grant Reporting progress. Member Etten asked if the work that has been done will be easier to replicate going forward if this is needed to be done yearly. Ms. Kelsey indicated Mr. Stumo-Langer was able to determine from his conversations with DEED, after the Colder project, which is up in May 2020, the reporting requirement will be retired because the goals have been met of the grant.