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Economic Development Authority Minutes Page 2 <br />February 19, 2019 <br />President Tveite felt an executed agreement should be required so the applicant <br />knows the parameters prior to reimbursement or reclamation of incentives. <br />Ms. Othoudt stated there is a need for some form of application for recording <br />purposes and criteria measurement. She expressed state reporting concerns. She <br />stated the EDA attorney could draft template documents to minimize costs. <br />Mr. Sagstetter reviewed the eligibility timeline map. <br />The commission concurred a graduated scoring formula should be established for <br />job creation criteria. <br />Sherburne County Assistant Administrator Dan Weber stated having a program <br />incentive would score Elk River at a higher ranking to obtain a data center. <br />Mr. Sagstetter stated when undergoing bonding review, data centers can affect a <br />rating negatively and there may need to be a balance as to how many should be <br />allowed. He questioned if the city wants to add any more sites besides the current <br />shovel ready site. He noted twenty percent of Elk River Municipal Utilities current <br />consumption is used by data centers. <br />President Tveite noted formatting issues under the Eligible Businesses section and <br />the need to segregate the criteria. <br />The EDA concurred they would like to have the attorney evaluate the need for an <br />application and approval process and this matter would come back to another work <br />session. <br />3. Adjournment <br />There being no further business, President Tveite adjourned the meeting of the Elk <br />River Economic Development Authority at 5:21 p.m. <br />Dan Tveite, EDA President <br />Tina Allard, City Clerk <br />p01EIE1 Ir <br />NATURE <br />