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<br />Economic Development Authority Meeting <br />October 9, 1995 <br /> <br />Page 2 <br /> <br />Coordinator stated the loan has been extended for eighteen months and <br />carries the current interest rate of 8.75 percent. <br /> <br />COUNCILMEMBER DWYER MOVED TO AUTHORIZE PRESIDENT GONGOLL AND <br />EXECUTIVE DIRECTOR RUBIN TO EXECUTE AN AMENDMENT TO THE EDA NOTE WITH <br />ELK RIVER MOTEL PROPERTIES, INC.. COUNCILMEMBER BENDER SECONDED THE <br />MOTION. THE MOTION CARRIED 7-0. <br /> <br />9. Update on the ECM Publishers, Inc. Redevelopment Proposal at US Hiahway 10 <br />and Kinq Avenue NW <br /> <br />Bill Rubin stated that ECM Publishers continues to meet with its architectural firm. <br />ECM Publishers hopes to proceed with some details and dollar amounts related <br />to the renovation component of the County Administration Building. If ECM <br />Publishers choose to move forward, the EDA, HRA and City Council will likely <br />conduct special meetings. <br /> <br />10. Consider 1996 Appointments/Reappointments to EDA Committees <br /> <br />The Commissioners all concurred that the EDA advertise for new members to the <br />finance, marketing, and R&D committees. These members have, in the past, <br />been reappointed and this should give other people a chance and may give <br />new insights on the committees. Bill Rubin, Economic Development Coordinator <br />will contact and update the current members. <br /> <br />11. Other Business <br /> <br />Bill Rubin, reminded the EDA of Manufacturers Week in Minnesota is October 16- <br />20. The Elk River Area Chamber of Commerce will have a membership luncheon <br />on October 17, at the Elk River Country Club and the speaker is from Minnesota <br />Technology, Inc.. There will also be a tour at 11 :00 of E&O Tool & Plastics. <br />Commissioners Dwyer and Duitsman indicated they will attend the Chamber <br />luncheon. <br /> <br />Commissioner Holmgren stated since we put so much effort into TL Feeder <br />Systems, the EDA Commissioners should take a tour of TL Feeder Systems, Inc. <br />when finished. Commissioners should take more effort in taking tours of more <br />projects. <br /> <br />12. Adiournment <br /> <br />There being no further business, COUNCllMEMBER FARBER MOVED TO ADJOURN <br />THE MEETING. COUNCILMEMBER DWYER SECONDED THE MOTION. THE MOTION <br />CARRIED 7-0. <br /> <br />The meeting of the Elk River Economic Development Authority adjourned at 6:42 p.m.. <br /> <br />Respectfully submitted, <br /> <br />jJjthtLlt YLLlU/jrl------ <br /> <br />Michelle Dwyer () ~ <br />Recording Secretary 'V <br />