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Economic Development Authority Minutes <br />February 20, 2024 <br />7.1 10835 170'hAvenue <br />Page 2 <br />Mr. O'Neil presented the staff report. He stated it should be noted this amendment does not address <br />any future right-of-way adjustments that may require a future easement vacation. He indicated with <br />this purchase price modification the purchase date would be extended to February 23, 2024, and <br />closing would occur that day. <br />Moved by Commissioner Wagner and seconded by Commissioner Grupa to amend the <br />purchase agreement selling land at 10835 170`' Avenue, as outlined in the staff report. <br />Motion carried 7-0. <br />7.2 Committee Updates <br />Mr. Mollan presented the staff report. He provided the following summaries: <br />Public Art and Beautification: they reviewed two proposals; group consensus will move <br />forward with a mosaic piece proposed for the FT center and staff will work with the artist to <br />finalize and bring to the March EDA meeting for consideration. <br />Together Elk River: discussed a billboard for the 169 Redefine project; renewed social media <br />marketing contract with Orange Ball. <br />7.3 General Updates <br />Mr. O'Neil presented the staff report and provided the following updates: <br />-EDA is reviewing a TIF application. <br />-Natures Edge Business Park land — he will ask the City Council to land transfer the parcel to the <br />EDA prior to any development or selling to capitalize on the advantages of operating under EDA <br />statutes. <br />-Mr. Mollan is finishing an annual report documenting a snapshot of the work of the HRA/EDA. <br />-Attended the U of M Home Grown event last Thursday. It was a valuable exercise and focused on <br />entrepreneurship, especially in outstate areas. The exercises they completed provided some good <br />insight and takeaways; staff will look at improving programs for owners of entrepreneurial -sized <br />businesses. <br />-Greater MSP tour took them to sites throughout the county. A report will be provided. Elk River has <br />an advantage over other cities in the county as we are 45 minutes from the airport; staff will work on <br />emphasizing this distance as a strength for people to do business here. <br />P01EAE1 11 <br />NATURE <br />