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<br />. <br /> <br />. <br /> <br />. <br /> <br />Elk River City Council Minutes <br />May 18, 1992 <br /> <br />Page 3 <br /> <br />5.2. Tescom Industrial Revenue Bonds/Public Hearing <br /> <br />Bill Rubin stated that at the April 27, City Council meeting, the City <br />Council adopted a resolution granting preliminary approval to Tescom <br />for Industrial Revenue Bond (IRB) financing and authorizing a public <br />hearing for May 18. Bill stated that Tescom Corporation is requesting <br />a $1.5 million IRB from the City of Elk River to construct a new <br />facility adjacent to their existing building. Mr. Ed Cunnington of <br />Tescom was present to answer any questions from the Councilor the <br />public. <br /> <br />Vice Mayor Holmgren opened the public hearing. There being no one for <br />or against the matter, Vice Mayor Holmgren closed the public hearing. <br /> <br />COUNCILMEMBER DIETZ MOVED TO ADOPT RESOLUTION 92-39, A RESOLUTION <br />RECITING A PROPOSAL FOR AN INDUSTRIAL FACILITIES DEVELOPMENT PROJECT, <br />GIVING PRELIMINARY APPROVAL TO THE PROJECT PURSUANT TO THE MINNESOTA <br />STATUTE SECTION 469.154, AUTHORIZING THE SUBMISSION OF AN APPLICATION <br />FOR APPROVAL OF THE PROJECT TO THE COMMISSIONER OF THE DEPARTMENT OF <br />TRADE AND ECONOMIC DEVELOPMENT OF THE STATE OF MINNESOTA AND <br />AUTHORIZING THE PREPARATION OF NECESSARY DOCUMENTS IN CONNECTION WITH <br />THE TESCOM CORPORATION PROJECT. COUNCILMEMBER KROPUENSKE SECONDED THE <br />MOTION. THE MOTION CARRIED 5-0. <br /> <br />5.3. Authorize Lease of Property at 20127 Elk Lake Road <br /> <br />Bill Rubin explained that the City Council recently <br />acquisition of the residence at 20127 Elk Lake Road, <br />expansion to the Woodland Trails Park. He stated <br />property is incorporated into the Woodland Trails Park <br />proposing to rent the property as an interim use. Bill <br />the Council with a 90 day lease agreement with Mr. Jeff <br /> <br />authorized the <br />which will be an <br />that until the <br />system, staff is <br />Rubin presented <br />Asfahl. <br /> <br />COUNCILMEMBER KROPUENSKE MOVED TO APPROVE THE 90 DAY LEASE AGREEMENT <br />BETWEEN THE CITY OF ELK RIVER AND JEFF ASFAHL FOR PROPERTY LOCATED AT <br />20127 ELK LAKE ROAD. COUNCILMEMBER DIETZ SECONDED THE MOTION. THE <br />MOTION CARRIED 4-0. <br /> <br />5.4. MnDOT Directional Signs on Eastbound and Westbound Hi9hway 10 at Gary <br />Street <br /> <br />Bill Rubin informed the Council that staff has received a request from <br />Nationwide Group to have two MnDOT directional signs installed on <br />eastbound and westbound Highway 10 at Gary Street. Bill Rubin <br />explained that Nationwide Group is the property manager appointed by <br />Resolution Trust Corporation for Orono Estates Apartments. He further <br />indicated that Nationwide Group will pay for the signs. <br /> <br />COUNCILMEMBER KROPUENSKE MOVED TO REQUEST MNDOT <br />DIRECTIONAL SIGNS ON HIGHWAY 10 EASTBOUND AND <br />STREET. COUNCILMEMBER SCHULDT SECONDED THE MOTION. <br />4-0. <br /> <br />TO INSTALL TWO <br />WESTBOUND AT GARY <br />THE MOTION CARRIED <br />