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Economic Development Authority Minutes <br />August 16, 2021 <br />Page 3 <br />There was discussion about policy for the current fund balance and balancing the use <br />of some of those funds to achieve the EDA's goals and objectives. <br />Chair Tviete noted the authority will be significantly below budget in 2021 due to <br />staffing and the pandemic and questioned use of those funds. <br />Commissioner Westgaard questioned if there were enough funds in the budget for <br />communicating to the business community for the 169 Refine project. <br />Mr. Portner stated there will be more impacts in 2023 for 169 Redefine. <br />Commissioner Beyer noted much of the project is MNDOT controlled and their <br />responsibility. <br />Commissioner Wagner stated she shared some ideas with Mr. Portner and felt there <br />should be some funds for this project but noted a plan isn't established yet to be able <br />to determine a budget. She stated there should be a coalition of businesses and <br />partners involved. She asked Sherburne County to participate but they didn't have <br />the interest. <br />Mr. Portner stated the authority could amend this later through the fund balance <br />versus adding to the levy. <br />Consensus of the commission the proposed budget is acceptable. <br />3. Adjournment <br />There being no further business, President Tveite adjourned the meeting of the Elk <br />River Economic Development Authority at 5:09 p.m. <br />Dan Tveite, EDA President <br />Tina Allard, City Clerk <br />P011RER I <br />NATUREI <br />