HomeMy WebLinkAbout26-15 - ADMIN Resolution - Economic Development Authority - 2026/06/01
EDA Resolution No. 26-15
Relating to filing lawsuit against ATD Holdings, LLC
Whereas, the St. Louis Park Economic Development Authority and the Minnesota
Consortium of Community Developments have attempted without success, efforts to collect
Two Percent Loan payment from ATD Holdings, LLC; and
Whereas, ATD Holdings, LLC applied for and was approved for a $74,999 loan through
the Two Percent Loan Program in April 2024 and have failed to make the required payments,
Now therefore be it resolved by the board of commissioners of the St. Louis Park
Economic Development Authority as follows:
1. The board hereby authorizes staff of the authority to take the necessary legal
actions against ATD Holdings, LLC for the unpaid loan.
2. The Economic Development Authority’s legal counsel, Kutak Rock, 60 South Sixth
Street, Suite 300, Minneapolis, Minnesota 55402, is directed to proceed with the
necessary legal action related to the unpaid loan.
Reviewed for administration: Adopted by the Economic Development
Authority June 1, 2026:
Karen Barton, executive director Yolanda Farris, president
Attest:
Melissa Kennedy, secretary
Docusign Envelope ID: CDBCAED0-32BE-81BD-833D-4F81BB0A43F4