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Economic Development Authority Minutes Page 4 <br /> March 8,2004 <br /> • Ms. Mehelich introduced Eric Haehn,Vice President/CFO of Gradient Technology, <br /> who explained that Gradient Technology is a core business doing demilitarization <br /> work of munitions. Having contracts with the military, Gradient Technology <br /> developed a technology using a water jet that cuts into the munitions. The company <br /> also sells the by-products to commercial and other industries. They are currently <br /> working with the Japanese Government wherein bombs from World War II will be <br /> collected and demilitarized. <br /> MOVED BY COMMISSIONER TVEITE AND SECONDED BY <br /> COMMISSIONER KOENING TO RECOMMEND TO THE CITY COUNCIL <br /> APPROVAL OF THE PRELIMINARY PROPOSAL CONCEPT FOR THE <br /> GRADIENT TECHNOLGY PROJECT AND FOR STAFF TO COMPLETE <br /> THE DUE DILIGENCE PROCESS FOR THE FINANCIAL ANALYSIS AND <br /> TAX REBATE FINANCING PROCESS. MOTION CARRIED 7-0. <br /> 9. Other Business <br /> There was no other business. <br /> 10. Adjournment <br /> The meeting of the Elk River Economic Development Authority adjourned at 6:28 <br /> p.m. <br /> 4100 <br /> Joan Schmidt <br /> City Clerk <br /> 110 <br />