07 10 2006 EDA MIN - Laserfiche WebLink

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Economic Development Authority Minutes Page 3 J~ty to, zoo6 MOTION CARRIED 7-0. Proposed Energy Improvement Loan Program Update Ms. Steinmetz reviewed the EDA's June 12~ discussion, and the Finance Comnvttee's June 14~h discussion regarding the potemial of investing the balance of the Business Incubator Program fund into an incentive program for businesses to incorporate energy efficient design and/or materials in the construction of their facility. Commission Motin stated that he felt an incentive program for energy savings should be driven by Energy City and not the EDA. He felt the Incubator funds should be preserved as a development tool and would not want to see the funds depleted. President Gongoll conctured. A question was raised regarding use of the remaining Incubator funds. Ms. Mehelich stated that it is not necessary to designate a use at this time and that in the meantime the funds will remain in the Micro Loan fund account. Update on Sub-Committee Exploring Sherburne County Economic Developmem Entity Commissioner Dwyer stated that representatives from all cities in the County, the County Board, County Administration and SCEDA attended the first meeting of the Sub- committee. The meeting focus was to establish goals and the framework for the group. He noted that the Sub-Committee will be meeting every other week until a plan is set in place. Commissioner Dwyer noted that Elk River's representation on the committee includes Stewart Wilson, HRA Chair, John Babcock of SCEDA, and Councilmember Gumphrey. Norths[ar Business Park Monument Sign Update Ms. Steinmetz reviewed details of the monument sign proposed for Northstar Business Park. Commissioner Gumphrey suggested that a temporary sign be utilized to indicate the City of Elk River's interest in selling lots within the Business Park. Ms. Mehelich stated that could be accomplished. 10.a. Commissioner Dwyer Item Corrunissioner Dwyer noted that Great River Energy has announced that they will keep their Control Center in Elk River, and that a number of highly skilled positions are associated with this operation. 10.6. Commissioner Farber Item Commissioner Farber expressed his concern that there still are no restaurants that he would consider "Class I Restaurants" locating in Elk River, and felt this was an issue in attracting new industrial companies to the City. Ms. Mehelich stated that commercial development is a component of the Economic Development Strategic Business Plan. She stated that more staff time and resources are required to put together a commercial development strategy and plan.