03-12-2001 EDA MIN - Laserfiche WebLink

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MEETING OF THE ELK RIVER ECONOMIC DEVELOPMENT AUTHORITY HELD AT THE ELK RIVER CITY HALL MONDAY, MARCH 12, 2001 Members Present: President Gongoll, Commissioners Koenig, Dwyer, Klinzing, Kuester, Tveite and Motin Staff Present: Director of Economic Development Catherine Mehelich, City Administrator Pat Klaers, City Attorney Peter Beck, and Recording Secretary Tina Allard Call Meetina To Order Pursuant to due call and notice thereof, the meeting of the Economic Development Authority was called to order at 6:00 p.m. by President Gongoll. 2. Consider3/12/01 Aaenda COMMISSIONER KLINZING MOVED TO APPROVE THE MARCH 12, 2001 AGENDA. COMMISSIONER TVEITE SECONDED THE MOTION. THE MOTION CARRIED 6-0. 3. Consent Aaenda COMMISSIONER MOTIN MOVED TO APPROVE THE CONSENT AGENDA AS FOLLOWS: 3.1. FEBRUARY 12, 2001 REGULAR MEETING MINUTES -APPROVED 3.2. CHECK REGISTER -APPROVED 3.3 REVENUE/EXPENDITURE REPORT-APPROVED 3.4. BALANCE SHEET -APPROVED COMMISSIONER KLINZING SECONDED THE MOTION. THE MOTION CARRIED 6-0 Commissioner Kuester arrived at 6:05 p.m. 4. Open Mike No one appeared for open mike. 5. Consider TIF 19 Contract for Private Redevelopment -Event of Default Director of Economic Development Catherine Mehelich stated that the EDA entered into a Contract for Private Redevelopment with Associated Investors of Elk River, Fisher Sand & Aggregate, LLP, and Elk River Business Park, LLC (Redeveloper) on July 30, 1999. Ms. Mehelich noted that the Redeveloper did not meet the requirements to have a Certificate of Occupancy for the initial improvements by December 31, 2000. Ms. Mehelich stated that formal written notice of the Event of Default was sent to the Redeveloper. She stated that since the formal notice the Redeveloper has been issued a Certificate of Occupancy for the 50,000 square foot building in the East Business Park and this satisfies the