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Economic Development Authority Minutes December 18, 2023 Page 3 parking lot which since 2017 has had 1,119 charging sessions. A person spends over an hour in the downtown area while their vehicle is charging. The commission discussed the EDA taking ownership of the two electric vehicle charging stations from ERMU, which are in the King Avenue parking lot. Mr. O'Neil stated one of the things that staff liked was that it would come with a low cost. ERMU has offered within reason to relocate them within the parking lot. The Downtown Elk River Business Association had also been asked and was happy to have them but thought they were tying up more prime parking for the general population. President Tveite stated he would like to investigate this further but maybe look at a less prime parking spot. He would like to see the financials behind it, and he would like to see the financials to upgrade the station to a fast -charging station. Mr. O'Neil said they would bring this back to a work session for more discussion. 7.4 Update on 1701h Avenue Property Sale Mr. O'Neil presented the staff report as information for the commission. 7.5 Annual Meeting Agenda Mr. O'Neil presented the staff report as information for the commission, stating the EDA will hold its annual meeting on January 16, 2024, which includes agenda items related to the Authority's business operations for the coming year. Among the items are the designation of officers and committee assignments, as well as annual review of the enabling resolution. 7.6 General Updates Mr. O'Neil provided updates on the following: ■ TriMark signed and formally announced their lease for the space in the Shoot Steel building. They will be a welcome part to our community and bring in about 6-10 jobs. ■ The Dye Concepts loan is looking at a January 2024 payoff date. ■ Staff is continuing to work with Shoot Steel. ■ Reminded the commission that the listing agreement on EDA properties will be expiring and staff will bring that topic to the January 16 meeting. ■ Staff thought about restarting the ad with the Minnesota Twins regarding taking the North Star Commuter line and highlighting Elk River. They will confirm that the train will run before committing to anything. Mr. Mollan provided updates on the following: ■ They posted another Development Minute featuring Plants and Things. ■ Invited the commission to attend the Home Grown event provided by the University of Minnesota Extension at the Sherburne Government Center on February 15 from 10 a.m. - 2:00 p.m. I9ESEI I1 NATURE IP E