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DRAFTMeeting of the Joint Finance Committee <br />Held at the Elk River City Hall <br />Tuesday, September 24, 2024 <br />Members Present: Commissioner Charlie Blesener, Committee Member Ryan Hardin, Committee <br />Member Jim Gromberg, Commissioner Dan Tveite, Commissioner Nate Ovall <br />Members Absent: Committee Member Chad Vitzthum, Committee Member Rhonda Magnussen, <br />Committee Member Tony Sofio, Commissioner Lynn Caswell <br />Staff Present: Economic Development Specialist Josh Mollan, Economic Development Director <br />Brent O'Neil, and Senior Planner Chris Leeseberg <br />1.CALL MEETING TO ORDER <br />Pursuant to due call and notice thereof, the meeting was called to order at 7:34 AM by Chair Tveite <br />2.CONSIDER AGENDA <br />Moved by Committee Member Ryan Hardin and seconded by Commissioner Nate Ovall <br />to approve the agenda. Motion Carried 5-0. <br />3.CONSIDER MINUTES <br />3.1 May 14, 2024 Meeting Minutes <br />Moved by Commissioner Blesener and seconded by Committee Member Gromberg to <br />approve the May 14, 2024 Meeting Minutes. Motion 5-0. <br />4.GENERAL BUSINESS <br />4.1 Modern Construction Microloan Application <br />Mr. O'Neil shared the staff report. <br />Commissioner Ovall suggested taking a look at the policy for the microloan program and consider an <br />alternative rate structure, but is okay with this request. <br />Chair Tveite suggested taking a look at the lease Tipsy Chicken would have with Modern Construction <br />to show support for their cash flow. <br />Committee Member Hardin also suggested reviewing the policy to avoid deviations from the guidelines, <br />but if there is a personal guarantee, he is agreeable with the request. <br />Mr. O'Neil advised that Modern Construction does not meet the minimum 10% contribution to the <br />Page 39 of 124