04-20 EDA Resolution No. 22
EDA RESOLUTION NO. 22
RESOLUTION IMPLEMENTING A COVID-19 SMALL BUSINESS ASSISTANCE FORGIVABLE
LOAN PROGRAM
WHEREAS, the spread of COVID-19 in the United States and Minnesota has raised
serious public health concerns and resulted in a great deal of uncertainty, and much remains
unknown about the virus and how it spreads; and
WHEREAS, on March 11, 2020, the World Health Organization determined that the
COVID-19 outbreak constitutes a pandemic, and on March 13, 2020, President Trump declared a
national state of emergency as a result of the pandemic; and
WHEREAS, on March 13, 2020, Governor Tim Walz issued Emergency Executive Order
20-01 declaring a state of peacetime emergency to address the COVID-19 pandemic in Minnesota,
which triggered activation of the emergency management plan of the City of Richfield, Minnesota
(the “City”) and enabled the City to exercise its emergency powers; and
WHEREAS, the Governor has subsequently issued additional Executive Orders to combat
the impacts of COVID-19 within the State of Minnesota, which include closures of schools, bars,
restaurants, and other places of public accommodation, and directing Minnesotans to stay at home
(with exceptions for obtaining necessary supplies, healthcare and similar needs) unless they are
engaged in critical sector work; and
WHEREAS, on March 16, 2020, the Mayor of the City issued a proclamation declaring a
local emergency invoking the City’s emergency plan and authorizing other appropriate community
containment and mitigation strategies and authorizing city staff to take actions deemed necessary
to protect the public health and safety; and
WHEREAS, the Richfield Economic Development Authority (the “Authority”) has the power
of a housing and redevelopment authority and an economic development authority and may
provide forgivable loans to businesses for purposes of preventing blight and preventing substantial
and persistent unemployment; and
WHEREAS, in order to retain small businesses in the City, the Authority has determined to
create the COVID-19 Small Business Assistance Forgivable Loan Program (the “COVID-19 Loan
Program”) to assist area businesses with the expenses incurred and specifically caused by the
impact of the Governor’s Emergency Executive Orders; and
WHEREAS, the COVID-19 Loan Program is expected to be funded in an amount of up to
$150,000; and
WHEREAS, guidelines for the COVID-19 Loan Program are on file with the Executive
Director and have been presented before the Board of Commissioners of the Authority; and
NOW, THEREFORE, BE IT RESOLVED, by the Board of Commissioners of the Richfield
Economic Development Authority as follows:
1. The implementation of the COVID-19 Loan Program by the Authority is hereby
approved.
EDA Resolution No. 22 1
2. This resolution shall be in full force and effect as of the date hereof.
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Adopted by the Richfield Economic Development Authority this 20 day of April, 2020.
Mary B. Supple, President
John Stark, Executive Director
EDA Resolution No. 22 2