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Housing and Redevelopment Authority Annual Meeting Page 2 <br /> January 10, 1995 <br /> COMMISSIONER DUITSMAN SECONDED THE MOTION. THE MOTION CARRIED <br /> 3-0. <br /> B. Designate Official Newspaper <br /> COMMISSIONER HINKLE MOVED TO DESIGNATE THE ELK RIVER STAR NEWS AS <br /> THE OFFICIAL NEWSPAPER FOR THE HRA FOR 1995. COMMISSIONER <br /> DUITSMAN SECONDED THE MOTION. THE MOTION CARRIED 3-0. <br /> C. Designate Official Depositories <br /> COMMISSIONER DUITSMAN MOVED TO DESIGNATE THE FOLLOWING BANKS <br /> AS OFFICIAL DEPOSITORIES FOR HRA FUNDS IN 1995: <br /> THE BANK OF ELK RIVER <br /> FIRST NATIONAL BANK OF ELK RIVER <br /> METROPOLITAN FEDERAL BANK(ELK RIVER) <br /> NORWEST BANK <br /> FIRST BANKS <br /> MARQUETTE BANK <br /> COMMISSIONER HINKLE SECONDED THE MOTION. THE MOTION CARRIED 3- <br /> 0. <br /> 6. Financial Update <br /> Executive Director Bill Rubin reviewed the 1994 Housing and Redevelopment <br /> Authority statement of cash activity which was submitted by Finance Director Lori <br /> Johnson. <br /> Beginning Cash Balance 1/1/94 $116,308.17 <br /> Total 1994 Revenues $ 57,197.82 <br /> Total 1994 Expenditures $ 65,273.42 <br /> December 31, 1994 Cash Balance $108,232.57 <br /> The Executive Director stated that the HRA's 1995 tax levy and state aid revenues <br /> are estimated at approximately$60,420.00. <br /> 7. Consider a Request From T.J. Properties for Reimbursement of Redevelopment <br /> Expenses <br /> This item was deleted from the agenda. <br /> 8. Consider General Updates on Various Projects <br /> The Executive Director provided a brief update on the following items: <br /> • 1995 Revenues/Levy <br /> • 1995 Development Activities <br /> • Northwest Quadrant Main Street/King Avenue NW <br />