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<br />e <br /> <br />e <br /> <br />e <br /> <br />Economic Development Authority Minutes <br />January 14, 1991 <br /> <br />Page 5 <br /> <br />Commissioner Dietz stated that the City is taking a risk on purchasing <br />the property and that the risk factor must be considered. Dan <br />Anderson, representing Irma Jenne, indicated that the consumer price <br />index has risen within the last two years and felt that there should be <br />an inflationary factor added to the price the City is offering. <br /> <br />CO~~IISSIONER HOLMGREN MOVED TO SUBMIT THE EDA'S FINAL OFFER OF $109,540 <br />TO MS. JENNE FOR HER PROPERTY ON MAIN STREET WITH THE REALIZATION THAT <br />THE OFFER WILL REMAIN UNTIL MARCH 1, 1991. COMMISSIONER TRALLE <br />SECONDED THE MOTION. <br /> <br />Dan Anderson questioned whether the City would consider picking up the <br />downtown assessments for the property. Commissioner Tralle stated that <br />the City should not pay for the assessments. <br /> <br />THE MOTION CARRIED 7-0. <br /> <br />Counselor Tim Keane stated that if the EDA uses the money from TIF <br />Districts 1 and 3 to purchase the property, these districts must be <br />amended to permit the use of the funds for the acquisition and <br />preparation of the redevelopment site. <br /> <br />16. <br /> <br />Adjournment <br /> <br />There being no further business, COMMISSIONER HOLMGREN MOVED TO ADJOURN <br />THE MEETING. COMMISSIONER KROPUENSKE SECONDED THE MOTION. THE MOTION <br />CARRIED 7-0. <br /> <br />The meeting of the Elk River Economic Development Authority adjourned at <br />9:37 p.m. <br /> <br />Respectfully submitted, <br /> <br /> <br />:/~~ a'~7 <br />Sandra A. Thackeray <br />City Clerk . <br />