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Economic Development Authonry Minutes <br />March 12, 2007 <br />Page 3 <br />Mx. Clark suggested that the EDA send staff emails with photos or locations of the samples <br />of the "mixed use" they would like to see Eor the Pack. <br />~Jndate on Downtown Redevelopment Plan Taskforce <br />Commissioner Tveite provided the following update on the Downtown Redevelopment <br />Plan Taskforce. Some items covered were: <br />• Alternatives to TH 10 <br />• Visibility to keep TH 10 at grade <br />• Possible closure of Main Street with Jackson Avenue being a gateway entrance <br />• Market of two distinct areas (north/south of TH 10 and the railroad) <br />Commissioner Dwyer questioned if Mn/DOT was part of any Taskforce discussion. <br />Mr. Clark noted that City Engineer Terry Maurer has had discussions with representatives of <br />Mn/DOT. <br />8. Other Business <br />A. Sider Micro Loan Request' Mikols River Studio Inc <br />Ms. Steinmetz stated Mikols River Studio has submitted application today for $25,000 from <br />the Downtown Business Revitalization Loan Program. She stated Mr. Mikols would like to <br />utilize the funds for upgrading his showroom and purchasing equipment. She stated that <br />EDA Commissioner Motin proposed the application be considered by the EDA in order to <br />respond to Mr. Mikol's timing request rather than delaying another month with a Finance <br />Committee recommendation. <br />Tony Mikols, applicant-Stated he has been impressed with the activity downtown and would <br />like to spmce up his shop. <br />MOVED BY COMMISSIONER MOTIN AND SECONDED BY <br />COMMISSIONER TVEITE TO APPROVE A $25,000 LOAN TO MIKOLS RIVER <br />STUDIO, INC. AT A FIXED INTEREST RATE OF THREE PERCENT TO BE <br />PAID BACK WITHIN TWO YEARS AND SECURED BY A PERSONAL <br />GUARANTEE. MOTION CARRIED 5-0. <br />B. CARE Update <br />Ms. Mehelich noted the GRE is pursuing legislative appropriation fora $250,000 grant to <br />the City of Elk River EDA to be provided to GRE for the feasibility study of an RDF to <br />methanol plant. <br />9, AA~jjoumment <br />The me g f the Elk River Economic Development Authority adjourned at 6:35 p.m. <br />Tina Allard <br />City Clerk <br />