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The Elk River Vision <br />A welcoming community with revolutionary and spirited resourcefulness, exceptional service, and community <br />engagement that encourages and inspires prosperity <br /> <br />Request for Action <br /> <br />To <br />Economic Development Authority <br />Item Number <br />4.3 <br /> <br />Meeting Date <br />January 20, 2026 <br />Prepared By <br />Brent O'Neil, Economic Development Director <br /> <br />Item Description <br />Annual Review of Bylaws and Enabling Resolution <br />Reviewed by <br />Brent O'Neil <br />Cal Portner <br /> <br />Action Requested <br />Review the bylaws and enabling resolution. <br /> <br /> <br />Background/Discussion <br />The enabling statute for economic development authorities in Minnesota requires an annual review of the <br />governing documents of the board, including the enabling resolution and bylaws. Staff is not proposing any <br />changes at this time, and action of the board is only required if it decides to propose an amendment to either <br />document. The bylaws can be amended by the board. Proposed amendments to the enabling resolution would <br />be forwarded to the City Council for its consideration. <br /> <br />Financial Impact <br />N/A <br /> <br />Mission/Policy/Goal <br />An annual requirement of statute is review of the bylaws and enabling resolution. <br /> <br />Attachments <br />1. Enabling Resolution - As Amended and Combined <br />2. Bylaws - As Amended (2024) <br /> <br /> <br />Page 7 of 40