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Economic Development AuthorityMmutes <br />May 9, 2011 <br />Page 2 <br />MOVED BY COMMISSIONER ZERWAS AND SECONDED BY • <br />COMMISSIONER GUMPHREY TO APPROVE $6,000 FUNDING FROM <br />THE ECONOMIC DEVELOPMENT AUTHORITY BUDGET TO THE ELK <br />RIVER Il\TDEPENDENCE DAY 2011 COMMITTEE. MOTION CARRIED 7-0. <br />Consider Adoption of Amended Micro Loan Fund Policy <br />Ms. Deckert presented the staff report. <br />Commissioner Motin requested that the wording in the first paragraph under Criteria for the <br />Downtown Revitalization Financing Program be changed as follows: <br />At a minimum, 20% of Micro Loan dollars must be used for the improvement of <br />the building facades, with exceptions to be considered r,..,-r.° ~'~~°~~° ~,.,,,~,.,:,,.°° <br />when it appears facade improvements are not necessar,~ Financing of leasehold <br />improvements will be considered at a limit of $25,000. <br />7. <br />MOVED BY COMMISSIONER DWYER AND SECONDED BY <br />COMMISSIONER WESTGAA.RD TO ADOPT THE MICRO LOAN POLICY <br />AS PRESENTED WITH COMMISSIONER MOTIN'S CHANGES AS <br />OUTLINED ABOVE. MOTION CARRIED 7-0. <br />Consider MPCA Property Access Agreement for Monitoring Well on EDA Parcel 75-427- <br />0140 Elk River Industrial Park <br />• <br />Ms. Deckert presented the staff report. <br />Becca Reason, Peer Engineering - outlined the request on the behalf of the MPCA. <br />President Touchette questioned whythe proposed well has been positioned in the middle of <br />the property. Ms. Reason stated that the MPCA is trying to avoid wetlands but are open to <br />placing the well where it makes sense for the citywith future development plans. <br />President Touchette also questioned whose responsibility it would be to seal the well if <br />funding is no longer available. Ms. Reason indicated that it would be the MPCA's <br />responsibility as the well owner. <br />MOVED BY COMMISSIONER MOTIN AND SECONDED BY <br />COMMISSIONER ZERWAS TO APPROVE THE PLACEMENT OF A <br />MONITORING WELL AND AUTHORIZE STAFF TO EXECUTE A <br />PROPERTY ACCESS AGREEMENT IN THE FORM PRESENTED FOR THE <br />EDA LOT 4, BLOCK 1 IN ELK RIVER INDUSTRIAL PARK AS REQUESTED <br />BY THE MINNESOTA POLLUTION CONTROL AGENCY. MOTION <br />CARRIED 7-0. <br />8. Update on Branding Strategy <br />Ms. Deckert provided an update on the branding strategy as outlined in her staff report. • <br />Other Business <br />