01-08-1990 EDA MIN - Laserfiche WebLink

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Economic Development Authority Meeting January 8, 1990 Page 3 . Dick Fursman, Economic Development Coordinator, indicated that Mork Clinic will be closing on their land transfer this week which will enable them to break ground for the clinic. 11. Motel Update The Economic Development Coordinator indicated that finishing touches have been added to the TIF Plan #7 and that this plan will be distributed to the County and the School District this week. He informed the EDA that the development district for TIF #7 has been drawn up to last 25 years. He informed the EDA that this is the maximum time allowed and further, that this is the worst case scenario. He indicated that there is a chance that the district may not last 25 years. He further indicated that on February 12, the EDA will be asked to accept the TIF plan and that construction is planned to begin in February. The Economic Development Coordinator informed the EDA that the 1989 Fire Code has been adopted at the Second Legislative Session. He indicated that he is not sure of the ramifications of this adoption as of yet but that the worst scenario would require the hotel to be sprinkled. 12. Industry Update . The Economic Development Coordinator informed the EDA that Americo has moved to Elk River and is setting up equipment in the Alltool building. He indicated that so far they have not received local financing and further that they have not received any money from the Ci ty. He stated that there is an agreement between All tool and Americo but that it will not be finalized until they receive financing. Mr. Fursman indicated that VicWest Steel, a Canadian company, has visited Elk River and is interested in the same building that Americo is in. He indicated that they will be dealing with Alltool regarding this location. Mr. Fursman briefly updated the EDA on the Remelle project. He indicated that Remelle has made no decision as of this date regarding their relocation. At this time the EDA had questions for the City's legal counsel pertaining to legal and timing questions concerning the RDF plant and the TIF money. 13. Other Business . The City Economic Development Coordinator indicated that the Jenne property has not yet been sold. He further indicated that at the September 11, 1989, meeting, the EDA had voted to purchase the Jenne property for $109,540 if it was not sold by February 1, 1990. He indicated that RFP's for the block development have been sent out and that the deadline for response is February 15.