08-19-2002 EDA MIN - SPECIAL - Laserfiche WebLink

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Economic Development Authority Minutes August 19, 2002 Page 4 COMMISSIONER DWYER MOVED TO APPROVE THE PROPOSED FINANCE CONCEPT FOR THE CYMBET CORPORATION EXPANSION AND DEVELOPMENT OF SPACE FOR THE EDA'S BUSINESS INCUBATOR PROGRAM. COMMISSIONER MOTIN SECONDED THE MOTION. THE MOTION CARRIED 7-0 7.1. Consider 2003 Budeet Director of Economic Development Catherine Mehelich provided a budget summary Eor the EDA and the Business Incubator. COMMISSIONER TVEITE MOVED TO APPROVE THE 2003 BUDGET FOR THE EDA. COMMISSIONER MOTIN SECONDED THE MOTION. THE MOTION CARRIED 7-0. Commissioner Dwyer stated that there should be accountability of the expense for professional services by Genesis Business Centers (GBC). He stated that the expense should be based on the number of hours worked in assisting the city. Commissioner Gongoll stated that GBC has provided staff with numerous updates and works with the Incubator Advisory Committee. He stated that GBC has brought a substantial number of contacts to the city. Commissioner Kuester suggested that GBC provide a report to justify their expenses. Commissioner Tveite suggested the GBC present an annual report. Ms. Mehelich suggested that the report be presented twice a year due to the number of changes and volume of information collected. COMMISSIONER TVEITE MOVE TO ADOPT THE 2003 BUDGET FOR THE BUSINESS INCUBATOR PROGRAM CONTINGENT UPON GENESIS BUSINESS CENTER PROVIDING A RESULTS REPORT EVERY SIX MONTHS. COMMISSIONER KUESTER SECONDED THE MOTION. THE MOTION CARRIED 6-1. Commissioner Dwyer opposed. 7.2. Consider Resolution Regarding EDA Levy COMMISSIONER KOENIG MOVED TO ADOPT RESOLUTION 02-06 ESTABLISHING THE TAX LEVY FOR THE ELK RIVER ECONOMIC DEVELOPMENT AUTHORITY IN AND FOR THE CITY OF ELK RIVER, MINNESOTA. COMMISSIONER MOTIN SECONDED THE MOTION. THE MOTION CARRIED 7-0. S. Other Business There was no other business. Adjournment There being no other business, President Gongoll adjourned the meeting of the Elk River Economic Development Authority at 6:25 p.m.