01-12-2004 EDA MIN - Laserfiche WebLink

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Economic Development Authority Minutes January 12, 2004 Page 5 Director of Economic Development Catherine Mehelich reviewed with the EDA the staff report. She stated that the proposal from the Brimeyer Group would be for two sessions, about four to five hours in length with a total of up to 28 members participating. Discussion followed as to when the sessions could occur. The consensus of the group was that any Wednesday at noon would be best for the first session and that Session Two should be held sometime in May versus April. Mr. Brimeyer's proposed fee for services is $2,800. Ms. Mehelich stated that an amount of $3,500 is included in the 2004 EDA budget for the Plan update and recommended acceptance of the proposal for services. MOVED BY COMMISSIONER KLINZING AND SECONDED BY COMMISSIONER TVEITE TO APPROVE THE PROPOSAL FOR CONSULTING SERVICES FROM THE BRIMEYER GROUP, INC., FOR THE PURPOSE OF UPDATING THE ECONOMIC DEVELOPMENT STRATEGIC PLAN. MOTION CARRIED 7-0. 8. Consider Extension of Business Incubator Sublease - KnowledGenetica Heidi Steinmetz introduced Joe Roushar from KnowledGenetica or K-Netica. The EDA granted the company asix-month business incubator sublease extension in April 2003. Mr. Roushar has requested that the EDA consider asix-month sublease extension effective November 21, 2003 through May 20, 2004. Staff recommended a nine to twelve month sublease extension. President Gongoll asked Mr. Roushar's preference and he stated nine months. President Gongoll wished to acknowledge that he serves on the Board of Advisors of K-Netica. MOVED BY COMMISSIONER TVEITE AND SECONDED BY COMMISSIONER MOTIN TO GRANT A SUBLEASE EXTENSION FOR NINE MONTHS FOR KNOWLEDGENETICA. MOTION CARRIED 6-0. President Gongoll abstained. Mr. Roushar demonstrated the capabilities of the company's technology. The demonstration illustrated the ability of the technology to understand English and to answer questions. The information is in a knowledge base with the system organizing the knowledge in aninter-connective network with the system being able to acknowledge and do something useful with the information. 9. EDA Micro Loan -Riverside Manufacturing, Inc Catherine Mehelich reported that Riverside Manufacturing, Inc. has made full payment of the principal amount on its past due EDA Micro Loan. A $3,000 check towards accrued interest and attorney fees has also been received. Staff has made the decision not to try to recover the remaining balance or attorney fees. Ms. Mehelich reported the following loans were paid off in 2003: - David Decker - Beaudry Convenience