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MEETING OF THE EDA FINANCE COMMITTEE <br /> HELD AT THE ELK RIVER CITY HALL <br /> THURSDAY,JUNE 6, 2013 <br /> Members Present: Paul Motin, Cliff Lundberg,Dan Tveite <br /> Members Absent: Chad Vitzthum,Larry Toth, Nate Ovall <br /> Staff Present: Assistant Director of Economic Development, Clay Wilfahrt,Tom Sagstetter, Elk River <br /> Municipal Utilities,Director of Economic Development,*�t n Beeman <br /> Others Present: Brian Brehmer, Owner of Ralphie's Victory Lane ,\ <br /> 1. Call Meeting to Order \y <br /> Assistant Director of Economic Development Clay Wilfa alled the me o order at <br /> 7:30am \ <br /> \\ <br /> 2. Consider Energy Efficiency Microloan for Ralphie\ Victory Lan � \ v` <br /> Mr. Wilfahrt reviewed the staff report. \\ yA\ y <br /> Brian Brehmer introduced himself and explained his projecfy informed the committee that he has <br /> extensive experience managing conveni‘a stores in the area,'A. . plans to use the microloan to <br /> renovate the gas station. He will be adds , LED price sign . ea an LIED sign on the side of his <br /> building. He will also resurface the parkinglp\ \ \ \\\ <br /> u \Mr. Motin questioned how the security positi\ wo vberii � with the contract for deed. Mr. <br /> Wilfahrt responded that v \ .• brances wo be lost in e event of a default. <br /> Mr. Lundberg askew 'i . Brehma ho owned they nd, and Mr. Brehmer said it was Ralphie's Victory <br /> Lane. Mr. Lundbereg\ter aske1who owned th ding, and Mr. Brehmer stated it was owned by his <br /> company,Yankee Doodl*;, tei\�, Mr. Br timer explained that his sister was half owner of <br /> rp �, v ; personal Doodl- �. to nse� ' .�Mr.� 't� � @ e' commended that the EDA seek ersonal arantees <br /> from a arrie h'a.,\ci in thi N. ership of the building and land. <br /> \ \\ <br /> T �`y imittee discus s vv ending\0 `microloan program to include more specific provisions <br /> pert.'***** g to the energy e nt imvements. Mr.Wilfahrt said that he would come back to the <br /> finance ittee at its ne. eeting in about two weeks. <br /> MOVED BY EITE AND SECONDED BY MOTIN TO RECOMMEND APPROVAL OF <br /> THE APPLICl' Q1FbR AN ENERGY EFFICIENCY MICROLOAN FOR RALPHIE'S <br /> VICTORY LANE NTH THE EDA SECURING A SECURITY POSITION ON THE LAND <br /> AND BUILDING,MOTION CARRIED 3-0. <br /> 3. Closing <br /> The EDA Finance Committee meeting ended at 8:25 a.m. <br /> Respectfully submitted by, <br /> Clay Wilfahrt <br /> Assistant Director of Economic Development <br />