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Economic Development Authorih IVlinutes Page 4 <br />August 8, 2005 <br />8.2. Consider Recommendations to City Council for Approval of Tax Rebate Financing <br />Assistance to O'Brien Holdings LLC (~ystal Distribution, Inc <br />Ms. Steinmetz provided a summary of the Crystal Distribution project as noted in the staff <br />report to the Commission dated August 8, 2005. She noted the Sherburne County Boazd of <br />Commissioners will also consider TRF assistance to O'Brien Holdings, LLC for the <br />remaining 50 percent of the land cost ($138,470). She noted that the Crystal Distribution, <br />Inc. project scored 44 out of 45 possible points on the City's TRF Proposal Review <br />Worksheet. Staff requests that the EDA recommend to the City Council approval of TRF <br />Assistance to O'Brien Holdings, LLC (Crystal Distribution, Inc.). <br />MOTION BY COMMISSIONER FARBER, SECONDED BY COMMISSIONER <br />TVEITE TO RECOMMEND THE CITY COUNCIL APPROVE THE TAX <br />REBATE FINANCING ASSISTANCE TO O'BRIEN HOLDINGS, LLC <br />(CRYSTAL DISTRIBUTION, INC.). MOTION CARRIED 6-0. <br />8.3. Consider Recommendations to City Council fox Approval of Tax Rebate Finanung <br />Assistance to Medical Extrusion Technologies. Inc. <br />Ms. Steinmetz provided a summary of the Medical Extrusion Technologies, Inc. project as <br />noted in the staff report to the Commission dated August 8, 2005. She noted the Sherburne <br />County Boazd of Commissioners will also consider TRF assistance to Medical Extrusion <br />Technologies for the remaining 50 percent of the land cost ($114,998). She noted that the. <br />project scored 40 out of 45 possible points on the City's TRF Proposal Review Worksheet. <br />Staff requests that the EDA recommend to the City CouncIl approval of TRF Assistance to <br />Medical Extrusion Technologies, Inc. <br />MOTION BY COMMISSIONER MOTIN, SECONDED BY COMMISSIONER <br />FARBER TO RECOMMEND THE CITY COUNCIL APPROVE THE TAX <br />REBATE FINANCING ASSISTANCE TO MEDICAL EXTRUSION <br />TECHNOLOGIES, INC. MOTION CARRIED 6-0. <br />8.4. Consider Recommendations to City Council for Approval of Tax Rebate Financing <br />Assistance to RST Cayo, LLC (Classic Acrylics- Inc.) <br />Ms. Steinmetz provided a summary of the RST Cayo, LLC (Classic Acrylics, Inc.) project as <br />noted in the staff report to the Commission dated August 8, 2005. She noted the Sherburne <br />County Boazd of Commissioners will also consider TRF assistance to RST Cayo, LLC for <br />the remaining 50 percent of the land cost ($75,000). She noted that the project scored 38.5 <br />out of 45 possible points on the City's TRF Proposal Review Worksheet. Staff requests that <br />the EDA recommend to the City Council approval of TRF Assistance to RST Cayo, LLC <br />(Classic Acrylics, Inc.) <br />MOTION BY COMMISSIONER GUMPHREY, SECONDED BY <br />COMMISSIONER FARBER TO RECOMMEND THE CITY COUNCIL <br />APPROVE THE TAX REBATE FINANCING ASSISTANCE TO RST CAYO, LLC <br />(CLASSIC ACRYLICS, INC.) MOTION CARRIED 6-0. <br />Commissioner Dwyer asked if the EDA would be willing to hold a special meeting to <br />expedite processing of the Provo Enterprises, LLC Micro Loan request (Alliance Machine). <br />Ms. Steinmetz noted that the applicant is also requesting $100,000 in Micro Loan assistance <br />