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05-22-1989 EDA MIN
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05-22-1989 EDA MIN
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5/22/1989
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<br />. <br /> <br />. <br /> <br />. <br /> <br />Page 2 <br /> <br />Economic Development Authority Minutes <br />May 22. 1989 <br /> <br />5. Other Business <br /> <br />Dick Fursman indicated that he would be providing the EDA with a <br />comparison of a hypothetical loan to Mork Clinic with the use of G.O. <br />Bonds and stated that he would also weigh the pros and cons in regard to <br />the use of G.O. Bonds for the loan. <br /> <br />Mr. Fursman updated the EDA on several items. He indicated that he has <br />been contacted by Kmart Corporation. Mr. Fursman stated that Kmart is <br />seriously looking at locating in Elk River. <br /> <br />Mr. Fursman indicated <br />companies. One that <br />manufactures steel. <br />locating in Elk River. <br /> <br />that he has been contacted by two manufacturing <br />manufactures plastics and the other which <br />He indicated they have both shown interest in <br /> <br />Mr. Fursman indicated to the Council that he is running out of industrial <br />park space and stated that the Commission should be looking at this <br />situation. <br /> <br />Mr. Fursman updated the EDA on the motel project. He indicated that the <br />developers did not meet the deadlines for the SBA loan and that they have <br />decided to put a hold on the project until they can find out what is <br />going to happen with TIF #4. <br /> <br />6. <br /> <br />Adjournment <br /> <br />There being no further business COMMISSIONER DOBEL MOVED TO ADJOURN THE <br />MEETING OF THE EDA. COMMISSIONER HOLMGREN SECONDED THE MOTION. THE <br />MOTION CARRIED 5-0. <br /> <br />The meeting of the EDA adjourned at 10:25 p.m. <br /> <br />Respectfully submitted. <br /> <br /> <br />~~~ <br /> <br />Deputy City Clerk <br />
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