Laserfiche WebLink
5.2) Existing Projects The Authority shall have no control nor authority over any existing <br /> economic development or redevelopment project in the City unless specifically so provided by <br /> resolution of the City Council. If the City Council adopts a resolution transferring control, authority <br /> and operation of any existing project to the Authority, the Authority shall accept control, authority, <br /> and operation of the project. When taking control of an existing project the Authority may exercise <br /> all for the powers that the governmental,unit established in the project could exercise with respect to <br /> the project and shall covenant and pledge to perform the terms, conditions, and covenants of any <br /> bond indentures or other agreements executed with respect to the project. <br /> 5.3) Advisory Committees -The Authority shall maintain, at their discretion,volunteer <br /> advisory committees which will act in an advisory capacity to the Authority. <br /> (01)The advisory committees will include without limitation: <br /> (a) A joint EDA/HRA Finance Committee which shall consist of(i) two HRA <br /> Commissioners appointed by the HRA, (ii) two EDA Commissioners appointed by <br /> the EDA, and (iii) five members of the Elk River community consisting of two <br /> members of the banking profession, one member of the legal profession, one <br /> member of the real estate profession and one member of the community at large <br /> each of whom shall be approved, as needed,by the then-existing members of the <br /> Finance Committee to fill any open seat consistent with foregoing community <br /> categories; <br /> (b) A marketing committee; <br /> (c) A prospecting committee; <br /> (d) A research and development committee; <br /> (e) A beautification committee <br /> (02) All members of the advisory committees will be appointed by the Authority. <br /> (03) The responsibility of the advisory committees shall be to advise and assist the Authority and to <br /> work with the executive director of the Authority and the economic development coordinator of the <br /> City on assignments if needed. <br /> Adopted this 15th day of May, 2017 <br /> 1 -/ C--, r---;- - -C, -'' <br /> Dan Tveite,President <br /> &Al, 7---- <br /> Jferaer, e President <br /> f <br />