05-15-1989 EDA MIN - Laserfiche WebLink

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. MEETING OF THE ECONOMIC DEVELOPMENT AUTHORITY HELD AT THE ELK RIVER PUBLIC LIBRARY MONDAY. MAY 15. 1989 MEMBERS PRESENT: Commissioners Tralle. Holmgren. Schuldt. Dobel. and Kropuenske MEMBERS ABSENT: None STAFF PRESENT: Patrick Klaers. City Administrator; Richard Fursman. Economic Development Coordinator; Tim Keane. City Attorney; and Mike Mulrooney. Economic Development Consultant 1. Pursuant to due call and notice thereof. the meeting of the Economic Development Authority was called to order by Commissioner Tralle at 6:30 p.m. Commissioner Tralle indicated that this was a continued meeting from May 8. 1989. . Dick Fursman. Economic Development Coordinator. indicated to the Council that the Hotel-Conference Center issues were presented at the May 8. 1989. EDA meeting. One of the issues was the sprinkling of buildings. Sprinkling would require that municipal sewer and water be brought to the site. Mr. Fursman indicated that it has been determined that any building serving liquor does have to be sprinkled. Therefore. the Conference Center would require sprinkling. however. the Hotel would not. Mr. Fursman also indicated that another issue that was discussed at the last EDA meeting concerned water and sewer going to the east side of the City. He stated that the developers are faced with a time line in order to meet loan application deadlines and they need a decision regarding assessment costs for municipal water and sewer to their site. Mr. Fursman stated that the City feels uncomfortable in giving a set figure on the assessments. as they are uncertain as to where the remaining necessary funds would come from. Mr. Fursman reviewed with the EDA certain options that would be available for both the developer and the EDA to consider. The options considered were as follows: 1. Estimate the utilities assessments at $70.000 for the entire site with the following contingencies: . a. That TIF #4 provides enough increment to pay for sewer and water through nonassessable areas. b. That the developers front the cost of a feasibility study to determine the actual appropriate level of assessment if their SBA Loan is approved. c. That the developers agree to adjust their share of the assessment if necessary. according to the feasibility study or discontinue the plans development. d. That the City may determine that the extension of sewer and water to the eastern side of Elk River is not in the best interest of the City based on probable returns on the investment. Therefore. the City may abate any initiative to extend sewer and water to that area.