EDA MIN 07-21-2025 - Laserfiche WebLink

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Economic Development Authority Minutes July 21, 2025 --------- Page 2 of 4 7. GENERAL BUSINESS 7.1 General Updates Mr. Mollan gave an update on working with the Center for Energy and Environment to administer an HVAC mechanical workshop for businesses. Staff has been working with Furniture and Things Community Event Center to find a space for 30-40 people. The EDA could consider sponsoring the room rental fee. Together Elk River Committee did not meet on July 21, 2025, but their summer 'play' marketing campaign is live. The Garden Gem Awards nominations are live for the Beautification and Public Art Committee through the end of July. There are currently six nominations. A video and flyers have been created. Judging panels will tour properties in August. Mr. O'Neil reviewed that Heritage Millwork received their Certificate of Occupancy. They still need to go through the TIF certification process. While working on this project, some conflicts with the energy rebate program were revealed. The policy will be re-evaluated to be more streamlined with Elk River Municipal Utilities. 8. MOTION TO ADJOURN REGULAR MEETING The regular meeting adjourned at 5:37 p.m. President Westgaard called the work session to order at 5:38 p.m. 9. WORK SESSION 9.1 Workshop on 2026 Budget Mr. O'Neil gave an overview of the proposed budget changes including options for increasing destination marketing budget, contributing to land acquisition, and hiring a consultant to represent the City at retail trade shows. Mr. O'Neil reviewed the idea of adding $100,000 to the budget for land acquisition to be prepared for future land purchase opportunities. $5,000 was proposed to be added to the Public Art budget. Commissioner Blesener stated that $100,000 for land acquisition seemed like a small number. Mr. O'Neil responded that the goal would be to continue to add to the fund each year so that the EDA has funds available as properties become available for development. The intention is to build up the fund to make some large purchases in the future or work on properties to make them development ready. Commissioner Calva stated he was not a fan of attending conventions and felt most engagement happened online now. Chair Westgaard added that it was a good idea to continue to add a yearly amount to the land acquisition fund and make it part of each year's budget. He questioned how large of a balance the commission should carry and if they could justify it.