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Economic Development Authority Minutes <br />September 13, 2004 <br />Page 3 <br />MOTION BY COMMISSIONER KLINZING AND SECONDED BY <br />COMMISSIONER KOENIG TO GRANT ATWELVE-MONTH SUBLEASE <br />EXTENSION TO LAPTWO TECHNOLOGY CORPORATION EFFECTIVE <br />SEPTEMBER 23, 2004 THROUGH SEPTEMBER 22, 2005 AT THE <br />FOLLOWING CASH/STOCK RENT RATE: <br />$ 4 PER SF CASH RENT ($347.00 PER MONTH) <br />$ 7 PER SF STOCK VALUE (DIVIDED AMONG BUILDING OWNER, <br />INCUBATOR CONSULTANT, & EDA) <br />$ 11 PER SF TOTAL RENT VALUE <br />THE MOTION CARRIED 7-0. <br />8. Ocher Business <br />Chair Gongoll noted two upcoming Chamber of Commerce events: <br />1. Chamber/City of Elk River -Manufacturing Week Event, October 19, 2004 <br />2. Visit by Governor Pawlenty - Blackwoods Restaurant in CRSego, November 16, 2004. <br />9. Adjournment <br />There being no other business, CHAIR GONGOLL ADJOURNED THE MEETING. <br />The meeting of the Elk River Economic Development Authority adjourned at 6:30 p.m. <br />.t~1P.~t ~Ck~K-- <br />Debbie Huebner <br />Recording Secretary <br />