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<br /> <br />Economic Development Authority Minutes <br />June 16, 2025 <br />--------- <br />Page 2 of 4 <br /> There were no public hearings. <br /> <br />7. GENERAL BUSINESS <br /> <br /> 7.1 General Updates <br /> Mr. O'Neil provided the following updates: <br />▪ Mr. O'Neil and Debbi Rydberg from the Elk River Chamber of Commerce have been talking <br />about more engagement during manufacturing month in October, such as identifying all the <br />manufacturers and conducting B.R.E. visits. <br />▪ J &J has started and is now moving dirt at their site. <br />▪ Pickle Paradise is moving forward and is on the City Council agenda tonight. <br />▪ Through the HRA, they partner with the MN Center for Environment and Energy, which helps <br />manage loans and bring energy efficiency into homes and businesses. They are looking to do an <br />event this fall to talk about how to best manage control systems on large commercial projects <br />to get the most efficiency out of energy systems. They are looking to host the event at the <br />Furniture and Things Community Event Center with EDA participation. <br /> <br />8. MOTION TO ADJOURN REGULAR MEETING <br /> Moved by Commissioner J. Brian Calva and seconded by Commissioner Mike Beyer to <br />adjourn the meeting. Motion Carried 7-0. <br /> <br />The regular meeting adjourned at 5:34 p.m. Chair Westgaard called the work session to order at 5:38 <br />p.m. <br /> <br />9. WORK SESSION <br /> <br /> 9.1 Microloan Program Updates <br /> The staff report was presented. <br /> <br />Commissioner Blesener explained that he could support all the items that have been listed as <br />suggestions. He stated we have a downtown program, and there were upgrades that were made, but <br />the programs were not used by those businesses. He thinks these programs are being underutilized and <br />wondered if they needed to be marketed better, or do a focus group with those who did not use it, and <br />ask why they didn't. He stated you could ask, were they unaware or was it just easier to get your own <br />through the bank, and suggested finding out what they need. <br /> <br />Chair Westgaard stated at the Joint Finance Committee, there was a bank representative stating that <br />there was interest, and they questioned why it is not city-wide and only downtown. They also talked <br />about the possibility of opening up the program city-wide and maybe having an added incentive for the <br />downtown area. They expressed that the interest rate needs to be very attractive. <br /> <br />Commissioner Calva confirmed that the dollar amount was $75,000 and asked if that was a significant <br />amount that would help a business? Commissioner Wagner stated Yes, that every bit helps. <br /> <br />Mr. O'Neil explained that it sets off other expenses.