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<br />Economic Development Authority Minutes <br />May 14, 1990 <br /> <br />Page 4 <br /> <br />e <br /> <br />d. <br /> <br />EXDansions <br /> <br />Mr. Fursman indicated that Alltool Manufacturing has informed the <br />Ci ty that they are investigating an expansion of their existing <br />building. He indicated that they are considering up to 40,000 <br />square feet of additional space to add on to their existing <br />building. Mr. Fursman further indicated that Alltool would <br />possibly be looking at assistance from the City through the <br />revolving loan fund. <br /> <br />e. Americo <br /> <br />Mr. Fursman updated the EDA by stating that Americo was unable to <br />remain solvent and had to leave Alltool's building. Mr. Fursman <br />indicated that the City did not make a loan to the company as they <br />did not meet the specifications imposed on them. <br /> <br />8. <br /> <br />Newsletter <br /> <br />e <br /> <br />Mr. Fursman stated that the Elk River Star News has submitted a bid for <br />the Economic Development Newsletter. He indicated that after receiving <br />two verbal quotes for the newsletter, he felt that the Star News was <br />very comparable. Mr. Fursman stated that he is weighing the benefits <br />of distributing the City's Economic Development Newsletter to the <br />entire Twin City Business Market which would be about 20,000 copies, or <br />whether the newsletter should be distributed with a smaller direct mail <br />in the ne ighborhood of about 3,000 copies. Mr. Fursman rev iewed the <br />format of the newsletter with the EDA. <br /> <br />COMMISSIONER KROPUENSKE MOVED TO APPROVE THE NEWSLETTER FORMAT AND THE <br />STAR NEWS AS THE PUBLISHER. COMMISSIONER HOLMGREN SECONDED THE <br />MOTION. THE MOTION CARRIED 6-0. <br /> <br />9. Journal Advertising Uodate <br /> <br />Dick Fursman discussed with the EDA the possibility of Elk River <br />putting in a series of ads in the City Business News magazine. Mr. <br />Fursman also discussed with the EDA the different types of possible <br />advertising. One type discussed was a cartoon advertisement. It was <br />the consensus of the Council to proceed with the advertising campaign <br />but not with the cartoon advertisement. <br /> <br />Mr. Fursman requested to do a pamphlet regarding space available in the <br />industrial park to help attract businesses into Elk River. It was the <br />consensus of the EDA to proceed in putting together some type of <br />pamphlet for promoting the industrial park. <br /> <br />10.1 Star City Meeting May 23. 1990 <br /> <br />e <br /> <br />Mr. Fursman informed the EDA that a Star City Recertification meeting <br />has been scheduled with the State of Minnesota for Wednesday, May 23, <br />1990, at 7:00 p.m. at the City Hall. <br />