01-17-1983 CC MIN - Laserfiche WebLink

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City Council Minutes January 17, 1983 Page Eight as an appointment to the Commission. Carol Mills, Stan Wheaton, Doug Johnson, Mag Johnson, Frank Madsen and the City Council were also added to the list of persons as members of the Economic Development Commission. Councilmembers Duitsman suggested the City staff contact all those persons whose names appeared on the memo dated December 2, 1982 from the City Administrator to the Mayor and City Council as well as John Pearce, John Clark, Larry Toth, Gene Kreuser, Virgil Stegner, Carol Mills, Stan Wheaton, Doug Johnson, Mag Johnson, Frank Madsen and the City Council as potential members of the Economic Development Commission. The City Administrator indicated that he would compile a list o~ duties and send out the letter to all suggested members to the Economic Development Commission. The City Administrator further indicated that an ordinance must be adopted by the City Council establishing that EconomilZ Development Commission. 12. Admlnistratots Update A. Industrial Revenue Bond review for Shopping Centers The City Administrator indicated that he has met with Mr. Bob ~ls~h~rof Springsted regarding the financial projections of the proposed Planned Unit Developments on Highway 169. The City Administrator indicated that Springsted has some very def- inite questions regarding the financial projections, specifically questions regar- ding land cost and the fact that neither developer have shown any definate ten- nants or rental costs. The City Administrator indicated that Springsted has recommended that the City of Elk River place conditions regarding a lender to the project. The City Administrator indicated that a so called "name-brand" lender will be able to review the financial projections with the expertise that the City itself does not have. Councilmember Duitsman questioned if Springsted was recommending a financial institution, and further questioned the possibility of the developers having specific indi~duals committed to the investment if Industrial Revenue Bonds are available. Discussion was carried on regarding a date the City Counciloould meet with the City's attorney and the City's financial consultants regarding the Planned Unit Developments proposed for the City. It was the consensus of the City Council to meet with the financial consultants and the City's attorney on January 31, 1983 at the City Hall at 7:30 p.m. B. Legislative Activities City Administrator indicated that there is a coalition of outs tate cities that has been organized as a subdivision of the League of Cities, to work with the League regarding legislative activities. The City Administrator indicated that the Mayor and the City Administrator have met with the group and will be legislative contacts throughout the next legislative session. The City Administrator indicated that the two specific issues of interest are the labor relations issue, and the con- tracting of public works issue. The City Administrator further indicated that the membership fee to the outstate cities organization is $25.00.