A team of environmental consultants and water resource engineers is moving its headquarters from Oakdale to St. Paul’s Green Line corridor.

On Wednesday, the St. Paul City Council met as the Housing and Redevelopment Authority to approve a $50,000 “forgivable” loan to Emmons & Olivier Resources Inc., also known as EOR, which will help them move into University Centre, a multi-tenant office building at 1919 W. University Ave., near Prior Avenue.

Funded through the city’s Strategic Investment Fund program, the five-year loan does not have to be paid back as long as the company maintains 33 employees in St. Paul. One year of principal will be forgiven each year.

EOR, which was founded in 1996, will move 30 employees to St. Paul and expects to hire three more by the end of the year. Following the loan, the city’s Strategic Investment Fund maintains a fund balance of $209,000.