09-16-2024 EDA MIN - Laserfiche WebLink

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Economic Development Authority Minutes Page 2 of 3 September 16, 2024 6. PUBLIC HEARINGS There were no public hearings. 7. GENERAL BUSINESS 7.1 General Updates The staff report was presented, and the following updates were provided: ■ Website: Shared analytics regarding the website, they are working with Golden Shovel to get new content, and they added the public art piece. ■ Beautification Public Art Committee: The public art video has been published highlighting public art in the community. They hope to continue adding content with public art including highlighting the new piece Where Energy flows. They are working on the reveal for the new piece, hoping it will be complete by the end of the year. They are also looking at what next year will entail. ■ Together Elk River: They are looking to do some marketing to get people back into Elk River to tie into the opening of the 169 project. ■ Staff along with Debbi Rydberg met as a 169 ribbon -cutting committee who are looking to do an event to commemorate the opening of 169. ■ Heritage Millwork: The project has closed, and the land is in possession of Heritage Millwork. They have already started construction. ■ Tipsy Chicken bought the Daddy-O's space and will have a restaurant there. They submitted an application for a city loan. ■ They are having conversations with a couple of hotel groups. If it continues to gain seriousness, it is foreseen it will be brought forth to the EDA for more conversation regarding proposals and partnerships. ■ Kwik Trip: Things are still on track. Their extension is up October 12, then they have 30 days to close. It is anticipated the transaction will happen in the middle of November. • Development land: there was a recent inquiry from a state-wide search looking for sites with 50-80 acres in which is above and beyond what Elk River has to offer. There is the MMP land that does not have utilities and the anticipated gravel pit site for the future. They would like to keep the board informed of these inquiries. ■ They will be partnering with the Chamber and a handful of businesses to be part of the Cool Jobs tour at the end of October. They recommend the EDA participate in sponsorship by buying the mini backpacks for that event. 7.2 Payment Extension Request for Distinctive Iron Loan The staff report was presented. Moved by Commissioner Jennifer Wagner and seconded by Commissioner Jeff Hartwig to authorize a continuance of the payment schedule with Distinctive Iron/Hemmer Companies LLC under regular amortization while its request to extend the balloon payment date is considered. Motion Carried 5-0.