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Economic Development Authority Minutes <br />May 18, 2020 <br />Page 6 <br />is expected to complete their work. He stated staff needs to know the specific issues <br />raised by survey participants to be able to resolve the issues. He reaffirmed the <br />Authority would review and approve the policies. <br />Commissioner Blesener can clarify that the survey participants have relationships <br />with banks numerous times for financial assistance and questioned how the <br />application process for a bank loan compares to a city loan, which offers much <br />smaller loan amounts. <br />Chair Tviete noted the Authority's allotted meeting time is out and these items <br />would be discussed at a future meeting. <br />4. Adjournment <br />There being no further business, President Tveite adjourned the meeting of the Elk <br />River Economic Development Authority at 5:35 p.m. <br />Minutes prepared by City Clerk Tina Allard <br />Dan Tveite, EDA President <br />4(f <br />Tina Allard, City Clerk <br />10NERE1 I <br />NATURE <br />