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Economic Development Authority Minutes Page 2 <br /> April 18,2016 <br /> 6.1 Die Concepts Microloan Application <br /> Ms. Othoudt presented the staff report. <br /> It was noted the EDA Finance Committee supported the loan request. <br /> Moved by Commissioner Wagner and seconded by Commissioner Burandt to <br /> approve Resolution No. 16-01, a Resolution Approving Loan Agreement and <br /> Related Documents (Die Concepts Project), which includes a Jobs Incentive <br /> Microloan and authorizing execution of the loan documents for Die <br /> Concepts, Inc. Motion carried 6-0. <br /> President Tveite welcomed the business to Elk River. <br /> 6.2 Preferred Powder Coating Forgivable Loan Satisfaction Agreement <br /> Ms. Othoudt presented the staff report. <br /> Moved by Commissioner Westgaard and seconded by Commissioner Olsen to <br /> adopt Resolution 16-02 approving issuance of a certificate of forgiveness and <br /> release of mortgage. Motion carried 6-0. <br /> 6.3 Directors Report <br /> Ms. Othoudt presented the staff report. <br /> 7. Announcements <br /> Ms. Othoudt announced Sportech is having a ribbon cutting at 10:00 a.m. on Friday, <br /> April 29, 2016. <br /> 8. Adjournment <br /> There being no further business, Chair Tveite adjourned the meeting of the Elk <br /> River Economic Development Authority at 5:37 p.m. <br /> Dan Tveite,EDA Presi• ,t <br /> /--4 <br /> Tina Allard,City Clerk <br /> 1P-011f1E11 a r <br /> NATURE <br />