02-11-1991 EDA MIN - Laserfiche WebLink

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EDA Minutes February 11, 1991 Page 2 e property for $109,540. He further indicated that it will take approximately 90 days for the City to close on the property. Pat Klaers discussed certain options the City must consider when marketing the property. He indicated that this will be on the next EDA agenda for consideration. The Executive Director informed the EDA that the cost to fill the underground tank located on the Cinema building property owned by Rob VanValkenburg is estimated at $500. He further indicated that the cost for environmental testing that will not be covered by State funding is $1,305. The City Administrator indicated that he had informed Mr. VanValkenburg that he would request the EDA to consider paying one half of the $1,305. Mr. VanValkenburg has requested that the City also pay half of the $500. COMMISSIONER HOLMGREN MOVED TO AUTHORIZE PAYMENT OF ONE HALF OF $1,805, TOTALLING $902.50 TO ROB VANVALKENBURG WHICH EQUALS THE BALANCE OF ONE HALF OF THE MONEY NOT PAID BY THE GRANT PLUS ONE HALF OF THE $500 FOR FILLING THE TANK, WITH THE UNDERSTANDING THAT IF THERE IS A FUTURE TIF PROJECT, THESE EXPENSES PAID BY THE CITY MAY BE RECOVERED. COMMISSIONER DIETZ SECONDED THE MOTION. THE MOTION CARRIED 5-0. 7. Finalize Committee Composition and Assi~nments e Chairman Gongoll indicated that he has sent letters to all economic development committee members informing them of the structure change to the committees and requesting a response as to whether they would be interested in serving on the marketing committee. He indicated that he did not receive an overwhelming response, but that he would continue to contact these people plus a few other people he was considering. Chairman Gongoll requested the other EDA members to contact people they feel would be of value to the EDA marketing committee. 8. Committee for brochure project Discussion was held regarding the make up of a brochure committee. It was the consensus of the EDA that the brochure committee would consist of staff, EDA Consultant, Chamber and committee member representatives. 9. EDA opportunities for Industrial Park Bill Rubin informed the EDA that he, the Mayor, and City Administrator met with representatives of the Elk River Associated Investors per the Investor's group request. Bill indicated that the Investors have requested that the City consider taking over the balance of the Industrial Park. . Mayor Tralle stated the EDA should consider whether it is appropriate for the the Elk River EDA to have property ownership with the intent of selling the property for development, and to also consider the advantages and disadvantages. Commissioner Holmgren questioned what the City would do differently if it were to purchase the property than it is already doing. Commissioner Schuldt indicated that the EDA