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EDA Agenda Memo Page 2 <br /> October 9, 1995 <br /> new consent resolution from the Americlnn partners. This resolution <br /> • authorizes one of the partners to sign the amendment on behalf of Elk <br /> River Motel Properties. In addition, it is appropriate to obtain <br /> individual consents from the respective guarantors regarding the <br /> extension of the Note. <br /> Action Requested <br /> The EDA is asked to authorize its president and its executive director <br /> to execute the amendment to the EDA Note with Elk River Motel <br /> Properties, Inc. <br /> 9. ECM Publishers Redevelopment Proposal <br /> At its meeting on September 25, the Elk River City Council reviewed a <br /> draft of a letter addressed to the president of ECM Publishers,Inc. <br /> Following the City Council review, the letter was submitted to ECM <br /> and copies were distributed to the EDA and the HRA Commissioners. <br /> The letter outlined a variety of financial programs and incentive <br /> programs available to ECM Publishers in the event it decides to <br /> proceed with its acquisition and renovation of the former County <br /> Administration Building in downtown Elk River. Although certain <br /> EDA loans would apply to the acquisition and renovation component of <br /> this building, an opportunity exists for the HRA to create a TIF <br /> renewal and renovation district in the northwest corner of King <br /> Avenue and Main Street. Long term, ECM Publishers would likely <br /> construct a stand alone office facility comprised of approximately <br /> 15,000 square feet. <br /> It is understood that ECM Publishers continues to meet with its <br /> architectural firm in hopes of refining some of the details and some of <br /> the specific dollar amounts related to the renovation component of the <br /> County Administration Building. A decision to move forward with this <br /> project will likely be made by ECM Publishers in the very near future. <br /> Should that decision be made, EDA Commissioners,HRA <br /> Commissioners, and the City Council can reasonably expect certain <br /> requests from ECM Publishers. <br /> 10. EDA Committee Appointments/Reappointments <br /> At its annual meeting in January, EDA Commissioners reviewed the <br /> roster of existing committees. The committees include finance, <br /> marketing,and R&D. Although all members of the respective <br /> committees were reappointed, it was suggested that the city advertise <br /> for members to these committees prior to 1996. It is probably more <br />