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Economic Development Authority Minutes Page 2 <br /> December 21,2015 <br /> 6.1 Letter of Intent to Purchase <br /> Ms. Othoudt presented the staff report. She stated this request is an unusual request <br /> and the Authority hasn't considered this in past transactions. She stated it in being <br /> considered,in part,with a larger subsidy agreement. She stated the additional <br /> financial assistance that will be requested at a future date is unknown at this time. <br /> She stated this could set a precedence going forward and is more of a policy decision <br /> at this point. She noted staff could come back at a later date with a new policy for <br /> the sale of EDA owned property to future developers. <br /> Chair Tveite stated brokerage fees have not been paid in the past but it is also not <br /> uncommon in a business scenario for the seller to pay a brokerage fee. <br /> Moved by Commissioner Dwyer and seconded by Commissioner Westgaard <br /> to approve the Letter of Intent for 17565 Tyler Street NW,Elk River. Motion <br /> carried 7-0. <br /> 6.2 Metro Transit GoPasses <br /> Ms. Othoudt presented the staff report. <br /> It was consensus of the Commission to donate the GoPasses to various <br /> organizations. <br /> 6.3 Satisfaction of Loan Agreement—Alliance Machine <br /> Ms. Othoudt presented the staff report. <br /> Commissioner Provo removed himself from voting on this item as he is the vice <br /> president of Alliance Machine. <br /> Moved by Commissioner Westgaard and seconded by Commissioner Olsen to <br /> adopt Resolution 15-07 approving issuance of a certificate of forgiveness for <br /> Alliance Machine, Inc. Motion carried 7-0. <br /> President Tveite expressed thanks to everyone involved with this great program and <br /> the use of funds. <br /> 6.4 Year-end Marketing Update <br /> Ms. Eddy presented the staff report. <br /> 6.5 Director's Report <br /> Ms. Othoudt presented the staff report. <br /> ierieie er <br /> NATURE <br />