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Economic Development Authority Minutes Page 4 <br />April 14, 2003 <br />COMMISSIONER MOTIN SECONDED THE MOTION. THE <br />MOTION CARRIED 7-0. <br />8. Consider Extension of Business Incubator -KnowledGenetica <br />Economic Development Assistant Heidi Hall reviewed the background on the <br />request for a lease extension for KnowledGenetica. Ms. Hall introduced Mr. Joe <br />Roushar, Chief Technology Officer for KnowledGenetica. Mr. Roushar gave a <br />brief update of the company and requested to emend the current lease by six <br />months. <br />President Gongoll indicated that he would abstain from voting on the issue <br />because he is providing the company with some consultative services. <br />COMMISSIONER DWYER MOVED TO GRANT A 6-MONTH <br />SUBLEASE EXTENSION TO KNOWLEDGENETICA. <br />COMMISSIONER TVEITE SECONDED THE MOTION. THE <br />MOTION CARRIED 6-0-1. PRESIDENT GONGOLL ABSTAINED. <br />9. Consider Amendments to Micro Loan Policy <br />Ms. Mehelich indicated that staff has been working with the EDA Finance <br />Committee to revisit the Micro Loan Policy for any amendments. Ms. <br />Mehelich reviewed the primary amendment issues. <br />COMMISSIONER KLINZING MOVED TO ADOPT THE AMENDED <br />MICRO LOAN POLICY. COMMISSIONER TVEITE SECONDED THE <br />MOTION. THE MOTION CARRIED 7-0. <br />10. Other Business <br />10.1. Micro Loan Updates <br />Ms. Mehelich distributed a memo relating to the temporary extension of a <br />micro loan for M&A Investments, LLC. She indicated that the lender is <br />requesting a 3-month temporary extension on the micro loan in order to allow <br />time for the Finance Committee to review the request. <br />COMMISSIONER TVEITE MOVED TO APPROVE A TEMPORARY <br />EXTENSION OF THREE MONTHS ON THE MICRO LOAN TOM & <br />A INVESTMENTS. L.L.C. COMMISSIONER KOENIG SECONDED <br />THE MOTION. THE MOTION CARRIED 7-0. <br />