4.1. EDA DRAFT MINUTES 10-16-2023

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Economic Development Authority Minutes Page 2 September 18, 2023 ----------------------------- 7.1 Committee Updates Mr. Mollan provided committee updates which included: Together Elk River:  They are wrapping up the 169 Redefine social media messaging for the year.  There was a billboard throughout the summer, and they were able to secure another four weeks in November to use the billboard for positive messaging regarding the 169 Redefine project. They are looking to have the billboard for December to encourage shop local with holiday shopping messaging.  They are in the final stages of approving new downtown banners. Beautification and Public Art:  They have merged into one committee now.  They are still accepting beautification applications through the end of September.  They are looking at a public art project and securing grant funding. They are possibly looking at the Furniture and Things Community Event Center as a location. 7.2 2024 YMCA Levy Resolution Mr. O’Neil presented the staff report. President Tveite added the levy is fulfilling the desires of the citizens of Elk River who voted for the levy to be approved. Moved by Commissioner Westgaard and seconded by Commissioner Wagner to approve Resolution 23-03 establishing the 2024 referendum tax levy of $518,096 for the debt service on the YMCA facility. Motion carried 6-0. 7.3. General Updates Mr. O’Neil presented the staff report. They are working with Die Concepts on the potential extension of their loan. Staff is waiting on additional information from Die Concepts before moving forward. Most likely it will be brought to the October Joint Finance meeting and brought to EDA in November. Mr. O’Neil and Mr. Mollan attended the North and West Suburbs forum. They were able to hear from some of the peer cities and find out what they are working on with their cities.