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Economic Development Authority Minutes Page 2 <br /> November 17,2014 <br /> Moved by Commissioner Westgaard and seconded by Commissioner Wilson <br /> Y <br /> to continue the public hearing for the Stonesthrow Properties,LLC (Coin- <br /> Tainer) tax abatement and microloan to December 15,2014. Motion carried 5- <br /> 0. <br /> 6. Jobs Incentive Program (4th Microloan) <br /> Mr. Barnhart presented the staff report. He noted the Department of Employment <br /> and Economic Development (DEED) made changes to the program outlining the <br /> funding can't be used for restaurants,retail, casinos,or sports facilities. He further <br /> noted Coin-Tainer has expressed interest in this program. <br /> Commissioner Motin questioned why DEED made these changes. <br /> Mr.Barnhart stated the decision is based on how DEED receives the funding <br /> source. He noted this funding came from the federal government to the state,which <br /> came with certain additional rules and regulations. <br /> Moved by Commissioner Wilson and seconded by Commissioner Wesgaard <br /> to approve the Jobz Incentive Program, incorporating changes required by <br /> the Department of Employment and Economic Development. Motion carried <br /> 5-0. <br /> 7.1 Public Art Installation • <br /> Ms. Eddy gave an update on the schedule for this project as outlined in the staff <br /> report. <br /> 7.2 Letter of Interest Lots I and 2, Block I, Nature's Edge Business <br /> Center Second Addition <br /> Mr. Barnhart gave an updated on the status of this project as presented in the staff <br /> report. <br /> 8. Adjournment <br /> There being no further business,Vice President Dwyer adjourned the meeting of the <br /> Elk River Economic Development Authority at 5:43 p.m. <br /> Dan Tveite,EDA President <br /> Tina Allard, City Clerk 1111 <br /> � er1111 / 1 <br /> NAME <br />