04-12-2010 EDA MIN - Laserfiche WebLink

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Economic Developmem AuthoriryMinutes Apri112,2010 Page 2 MOVED BY COMMISSIONER KLINZING AND SECONDED BY COMMISSIONER MOTIN TO ELECT DAN TVEITE AS VICE PRESIDENT OF THE EDA FOR 2010. MOTION CARRIED 7-0. MOVED BY COMMISSIONER WESTGAARD AND SECONDED BY COMMISSIONER ZERWAS TO ELECT PAUL MOTIN AS SECRETARY OF THE EDA FOR 2010. MOTION CARRIED 7-0. MOVED BY COMMISSIONER KLINZING AND SECONDED BY PRESIDENT TOUCHETTE TO ELECT PAT DWYER AS TREASURER OF THE EDA FOR 2010. MOTION CARRIED 7-0. MOVED BY COMMISSIONER ZERWAS AND SECONDED BY COMMISSIONER TVEITE TO ELECT MATT WESTGAARD AS ASSISTANT TREASURER OF THE EDA FOR 2010. MOTION CARRIED 7-0. At this time, Ron Touchette took over as EDA President. 6. Resolution Providing for the Defeasance Pre~avment and Redemption of the 2002A and 2002B Lease Revenue Bonds Mr. Simon presented the staff repon. MOVED BY COMMISSIONER TVEITE AND SECONDED BY COMMISSIONER ZERWAS TO ADOPT RESOLUTION 10-02 PROVIDING FOR THE DEFEASANCE, PREPAYMENT, AND REDEMPTION OF THE 2002A AND 2002B LEASE REVENUE BONDS. MOTION CARRIED 7-0. Micro Loan Extension Request -Badger Ventures, LLC (Gradient Technology), Ms. Mehelich presented the staff repon. MOVED BY COMMISSIONER DWYER AND SECONDED BY COMMISSIONER TVEITE TO APPROVE ATWO-YEAR EXTENSION ON THE BADGER VENTURES, LLC MICRO LOAN AT 6.25% FIXED MARKET RATE INTEREST AND TO WAIVE THE $500 MICRO LOAN EXTENSION PROCESSING FEE. MOTION CARRIED 7-0. 8. Economic Development Program Updates 8.1. Business Retention and Expansion Program Ms. Deckers presented the update as outlined in her staff repoxt. 8.2. Economic Development Marketing Ms. Decker presented the staff report. Presentation from Elk River Independence Day2010 Comrnittee Jim Boyle, representing the Elk River Independence Day Cotrunittee, explained the Comrnittee's plans for the Fourth of July event in Elk River. He indicazed that the event will be held at Lion's Park and fireworks will be shot off from the High School football field. He