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Meeting of the Elk River Joint Finance Committee <br />Held at the Elk River City Hall <br />Tuesday, January 30, 3018 <br /> <br />Members Present: Larry Toth, Ryan Hardin, Dan Tveite, Jim Gromberg, Bryan Provo, Chad <br />Vitzthum, Nate Ovall, Rhonda Magnussen, and Michelle Eder <br /> <br />Members Absent: None <br /> <br />Staff Present: Amanda Othoudt, Economic Development Director and Colleen Eddy, <br />Economic Development Specialist <br /> <br />Others Present: Mikaela Huot, Springsted Inc.; Pat Briggs, Applicant <br /> <br /> <br />1. Call Meeting to Order <br /> <br />Pursuant to due call and notice thereof, the meeting of the Elk River Joint Finance <br />Committee was called to order at 7:32 a.m. <br /> <br />2. Consider Agenda <br /> <br />Motion by Gromberg and seconded by Hardin to approve the January 30, 2018, Joint <br />Finance Committee agenda. <br /> <br />Motion carried 9-0. <br /> <br />3. Consent Agenda <br /> <br />Motion by Eder and seconded by Toth to approve the January 30, 2018, Joint Finance <br />Committee consent agenda: <br /> 3.1. July 25, 2017, Joint Finance Committee meeting minutes. <br /> 3.2. Revolving Loan Fund Balance report. <br /> <br />Motion carried 9-0. <br /> <br />4.1 Tax Increment Financing Applications – Jackson Hills Residential Suites and The <br />Elk River Lodge Suites, LLC <br /> <br />Ms. Othoudt presented the staff report. Mikaela Huot from Springsted presented the But <br />For analysis. Members discussed various aspects of the application. <br /> <br />Motion by Provo and seconded by Magnussen to recommend approval of <br />establishing Tax Increment Financing District 25 as outlined in the staff report. <br /> <br />Motion carried 7-2 with Hardin and Toth opposing. <br /> <br />