04-12-2004 CC MIN - Laserfiche WebLink

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City Council Minutes April 12, 2004 Page 3 5.3 5.4 5.5 City Clerk Joan Schmidt explained that through the codification process the word "or" was omitted in this section of the codebook. Consequently if the code were not amended, liquor establishments would have to submit both a certificate of liability insurance and a bond to renew their liquor license. MOVED BY COUNCILMEMBER TVEITE AND SECONDED BY COUNCILMEMBER KUESTER TO ADOPT ORDINANCE 04-05 AMENDING SECTION 6-58 OF THE CITY CODE OF ORDINANCES. MOTION CARRIED 5-0. Consideration of Heritage Preservation Commission Appointment The Council interviewed applicant Linde Pouti for the one open seat on the Heritage Preservation Commission with term expiration of February 28, 2007. Ms. Pouti explained that she has always been interested in the heritage of Elk River as well as Elk River's future. She has worked at the old bank building in Historic Downtown Elk River and has watched the City change over the years. She wishes to be part of preserving the heritage of the City. MOVED BY COUNCILMEMBER TVEITE AND SECONDED BY MAYOR KLINZING TO APPOINT LINDE POUTI TO THE HERITAGE PRESERVATION COMMISSION FOR A THREE-YEAR TERM WITH TERM EXPIRATION OF FEBRUARY 28, 2007. MOTION CARRIED 5-0. Consider Tax Rebate Financing Request for Badger Ventures, LLC (Gradient Technology., Inc. Director of Economic Development Catherine Mehelich explained that Badger Ventures, LLC proposes to construct a 13,000 square foot light industrial/business park building for lease to Gradient Technology's office, research/development, and equipment fabrication operation. Badger Ventures proposes to purchase 2.05 acres within the Elk River Business Park and has requested that the city and county consider a write down of the land cost to $0 through a pay-as- you-go note to the limited liability company. Staff has been working with Gradient Technology through the due diligence process for the financial analysis and the City's Tax Rebate Financing process. At this time staff could not provide a recommendation to the EDA or Council regarding the tax abatement request for the project. The City Council may continue to hold a public hearing and receive comment on the tax abatement request. There are several issues that remain unresolved, including identification of a bank lender and proposed project f'mancing terms; possibility of a City Nlicro Loan; identification of the amount and source of eligible equity; and completion and review of a but- for analysis. CEO Eric Haehn of Badger Ventures is waiting to hear back from two banks. Mayor Klinzing opened the public hearing. There being no one to speak to this issue, Mayor Klinzing closed the public hearing. Ms. Mehelich stated that Council does not need to do anything at this time and that this item will be brought back for further consideration. Building Construction Project Update from Kraus Anderson Don Stutesman and Jim Beclc,vith from Kraus-Anderson gave council an update on the building construction project. Mr. Stutesman explained that at the last construction meeting it was