EDA Meeting for April 21, 2025

The City of International Falls Economic Development Authority (EDA) convened on April 21, 2025, with all commissioners present. The meeting included routine approvals such as the minutes from the previous meeting and accounts payable. A significant portion of the discussion focused on reviewing and approving the final version of the revolving loan fund policy, which included updated guidelines and checklists for loan procedures. This policy aims to provide clearer structure and organization for economic development loans, addressing previous gaps in policy. The EDA noted that while some stop-gap loans are still being paid off, there have been few applications historically. No new loan applications were presented during this meeting, and no additional reports were given. The meeting concluded with adjournment after these agenda items were addressed.