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Economic Development Authority Minutes Page 2 February 12,2007 MOVED BY COMMISSIONER DWYER AND SECONDED BY COMMISSIONER FARBER TO APPROVE THE DOWNTOWN BUSINESS REVITALIZATION PROGRAM MICRO LOAN TO DADDY-O'S CAFÉ IN THE AMOUNT OF$25,000 AS OUTLINED BY THE EDA FINANCE COMMITTEE. MOTION CARRIED 5-0. 6. Update on Request for PoIgpn of EDA Land Located on County Road 1 Community Development Director Scott Clark stated that representatives of Abiding Savior Lutheran Church had expressed interest in purchasing or exchanging land between their church and the FDA property located off of County Road 1.Mr. Clark indicated that the church's board met and has elected to discontinue any further negotiations.He stated that the city's Parks and Recreation Commission has expressed an interest in securing this property from the EDA.He explained that the Parks and Recreation Commission visions this property as valuable passive open space and a future pedestrian trail development.Mr. Clark indicated that this property would be placed into the park system and included in a future capital improvement program for future trails. MOVED BY COMMISSIONER TVEITE AND SECONDED BY COMMISSIONER DWYER TO INITIATE THE TRANSFER OP THE ECONOMIC DEVELOPMENT AUTHORITY OWNED LAND LOCATED OFF OF COUNTY ROAD 1 TO THE CITY OF ELK RIVER IN ORDER TO BE PLACED IN THE CITY'S PARK SYSTEM.MOTION CARRIED 5-0. 7. Update on Downtown Redevelopment elan Taskforce Director of Economic Development Catherine Mehelich provided an update on the February 5,2007 Downtown Redevelopment Plan Taskforce meeting. She indicated that the purpose of the meeting was to hear from the development community on issues such as what types of downtown development the current market will support. She stated that Frank Dunbar of Dunbar Development and Mark Moorhouse of Dominium,Inc.,were in attendance to discuss these issues with the taskforce. Ms.Mehelich explained that the developers reiterated that Highwa: 10 and the railroad tracks are natural barriers and suggested focusing funds and strate 'es on the core downtown. They recommended considering light industrial or loyment centers (ie:, medical,dental,or offices)north of Highway 10.Ms.Mehelich sta d that Mr.Dunbar and Mr.Moorhouse indicated that a majority of customers are more co fortable parking on surface parking rather than parking ramps. Ms.Mehelich stated that at the next Taskforce meeting,City Engineer Terry Maurer will be discussing Highway 10 and options for dealing with it. 8. Other Business—None 9. Adjournment There being no other business,PRESIDENT GONGOLL ADJOURNED THE MEETING. The meeting of the Elk River Economic Development Authority acjoumed at 5:50 p.m.