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• 6. King & Main Update <br /> Acting Director of Economic Development Marc Nevinski informed the HRA that <br /> the city closed on the sale of the King Avenue and Main Street site on May 19, <br /> 2000, for the amount of$175,000 with proceeds of$173,989 after closing costs. <br /> Marc suggested that the HRA consider applying these funds directly to the <br /> Northbound Liquor debt and another$48,000 to the Self-Insurance Fund. Marc <br /> noted that$50,000 would still be owed to Northbound Liquor. <br /> COMMISSIONER WILSON MOVED TO APPLY THE PROCEEDS FROM THE SALE OF THE <br /> KING AVENUE AND MAIN STREET SITE TOWARDS THE NORTHBOUND LIQUOR DEBT. <br /> COMMISSIONER THOMPSON SECONDED THE MOTION.THE MOTION CARRIED 4-0. <br /> 7. Other Business <br /> There was no other business. <br /> 8. Adiournment <br /> There being no other business, VICE CHAIR TOTH MOVED TO ADJOURN THE <br /> MEETING. COMMISSIONER THOMPSON SECONDED THE MOTION. THE MOTION <br /> CARRIED 4-0. <br /> The meeting of the Elk River Housing and Redevelopment Authority adjourned at <br /> 5:25 p.m. <br /> • Tina Allard <br /> Recording Secretary <br /> 1111 <br />