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SPECIAL MEETING OF THE ELK RIVER <br /> ECONOMIC DEVELOPMENT AUTHORITY <br /> HELD AT THE ELK RIVER CITY HALL <br /> MONDAY, MARCH 4, 1996 <br /> Members Present: President Gongoll, Commissioners Dwyer, Holmgren, Bender, <br /> Farber, and Duitsman <br /> Members Absent: Commissioners Dietz and Scheel <br /> Staff Present: Pat Klaers, City Administrator; Sandra Thackeray, City Clerk <br /> Also Present: County Administrator Dave Loch; Chamber Representatives <br /> Jackie Schuelein, Kermit Bode, Rich Duggan and Dennis Chuba; <br /> HRA Commissioners Gene Schuldt, Dick Hinkle, Stewart Wilson, <br /> and Duane Kropuenske; Utilities Commissioners Jim Tralle and <br /> George Zabee; County Economic Development Coordinator <br /> Michael Darger; Bank Representatives Jim Simpson and Dick <br /> Gongoll <br /> 1. Call Meeting To Order <br /> Pursuant to due call and notice thereof, the special meeting of the Elk River <br /> • Economic Development Authority was called to order at 5:00 p.m. by President <br /> Gongoll. <br /> President Gongoll indicated that those present represent the City Council, EDA, <br /> HRA, Chamber of Commerce, Elk River Utilities Commission and the business <br /> community. President Gongoll indicated that the purpose of the meeting was to <br /> hear a presentation from Roger Jenson and Harlan Jacobs regarding the Anoka <br /> County Business Incubator model. President Gongoll introduced Roger Jenson, <br /> Executive Director of the Anoka County Capital Fund and Harlan Jacobs, <br /> President of Genesis business Centers, Ltd. <br /> Roger Jenson and Harlan Jacobs gave presentations on the Anoka County <br /> Business Incubator. They explained that a business incubator provides low-cost <br /> space for newly-formed or emerging companies. These companies obtain <br /> discounted office and production space and sometimes they are able to obtain <br /> clerical services, business management counseling services, and tooling and <br /> machining space in the same facility. They further explained that companies are <br /> expected to leave the incubator and relocate into space that is more market <br /> rate after completing their R & D phase. <br /> Roger Jenson discussed the need for an equity capital fund that is capitalized by <br /> public funds. He explained that the main capital for the Anoka business <br /> incubator has come from eight local banks and two utility companies. Harlan <br /> Jacobs indicated that he is searching for progressive communities in which to <br /> start a business incubator. He indicated that he considers Elk River to be a <br /> • progressive community and would be an ideal location for this type of venture. <br />