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Economic Development Authority Minutes <br />July 14, 2003 <br />Page 3 <br />products, needs, and status of the two new prospects, Intellipatch, Inc. and Lap2, <br />Inc. <br />Discussion followed regarding a request by Mr. Mike Geatz of Intellipatch, Inc. to <br />sublease space at the incubator site from current tenant, KnowledGenetica, until he <br />can secure the molds necessary for starting up his business and submit a formal <br />application for the incubator. A letter confirming the request from Mr. Joseph <br />Roushar of KnowledGenetica was distributed to the Conutlission. <br />Ms. Mehelich stated that staff received the request that afternoon and that according <br />to the sublease agreement, subletting is not allowed by tenants of the incubator <br />program. She stated that the benefit of discounted rent should be reserved only for <br />incubator program tenants and that the company should submit an application for <br />review by the Incubator Advisory Committee. <br />COMMISSIONER KLINZING MOVED TO WAIVE SECTION 11 OF <br />THE INCUBATOR SUBLEASE FORA 30-DAY LIMIT IN ORDER FOR <br />INTELLIPATCH, INC. TO BEGIN PROCESSING A FORMAL <br />APPLICATION. THE EDA REQUESTS REVIEW OF THE STATUS OF <br />AN APPLICATION FROM INTELLIPATCH, INC. AT THE NEXT EDA <br />MEETING. COMMISSIONER KUESTER SECONDED THE MOTION. <br />THE MOTION CARRIED 7-0. <br />8. Other Business -None <br />9. Adjournment <br />There being no other business, PRESIDENT GONGOLL ADJOURNED THE <br />MEETING. <br />The meeting of the Elk River Economic Development Authority adjourned at 6:22 p.m. <br />Re/s~pectfully submitted, <br />~CSla.~c~ y~- <br />Debbie Huebner <br />Recording Secretary <br />