03-12-1990 EDA MIN - Laserfiche WebLink

Home Browse Search

Economic Development Authority Minutes March 12, 1990 Page 2 e 4. Annual ReDort Economic Development Coordinator, Dick Fursman, distributed the final version of his 1989 Economic Development Department Annual Report. Mr. Fursman noted that were very few additions or changes in this final report from the draft annual report that was distributed in the EDA agenda packet. Mr. Fursman began his annual report presentation by reviewing the 1989 EDA meeting schedule. It was indicated that there were 21 EDA meetings held in 1989 and the majority of the meetings dealt with three issues. These three issues were the Mork Clinic proposal, AmericInn Motel proposal, and trying to resolve the "hole in the ground" problem in the Central Business District that was a result of a 1988 fire. A brief discussion took place regarding the Star City program and how that program forces a community to plan for Economic Development activities. Mr. Fursman indicated that it is the City's intention to remain an active member in the Star City program for at least the next few years. e The City Revolving Loan program was the next report item discussed. It was stated that this program began in 1988 with zero funds and at the end of 1989 had accumulated $107,000 in cash. Projections call for an additional $4,700 to be received each month in 1990. Monies will be added to this fund through loans made by the City (directly or indirectly by the State) to Alltool, Mork Clinic, and Roma Plastics. Mr. Fursman discussed the one Tax Increment Financing project that was authorized in 1989 for Mork Clinic. Discussion also took place on the Tax Increment Financing project that was worked on in 1989 for the motel proposal. Mr. Fursman indicated that contrary to public perception, the City has had a limited use of Tax Increment Financing the past few years. The City's marketing efforts for 1989 were discussed. These marketing endeavors included advertisements in various journals which were distributed both locally and state wide. It was indicated that after the annual report presentation, Mr. Mulrooney would be discussingmarketing proposals for 1990. Mr. Fursman briefly updated the EDA on 1989 activities that required a significant amount of attention from his department. These projects included Alltool Manufacturing, Mork Clinic, Central Business District "Block A," AmericInn Motel, Custom Conveyor, and Americo. e Mr. Fursman discussed with the EDA proposed City assistance for the downtown "Block A" project and the possible Remmele Engineering expansion in Elk River. It was stated that these two offers of assistance by the City seemed to contradict the public perception that the City is not aggressive in trying to attract businesses.