04-08-1991 EDA MIN - Laserfiche WebLink

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Economic Development Authority Minutes April 8, 1991 Page 2 e EDA Commissioners also reviewed the Balance Sheet for the period ending December 31, 1990. There is a cash balance of $30,801. 46 and a fund balance of $25,510.35. The Authority had total revenues in 1990 of $58,977.87 and expendi tures of $64,040.36 due to high consulting fees during the transition period between Economic Development Coordinators. COMMISSIONER HOLMGREN MOVED TO APPROVE THE EDA EXPENSES PAYABLE TO THE CITY OF ELK RIVER IN THE AMOUNT OF $5,431.90. COMMISSIONER DWYER SECONDED THE MOTION. THE MOTION CARRIED 7-0. 6. Review Marketin~ Brochure Layout At this time the EDA Commissioners reviewed a rough brochure layout that had been presented to City staff earlier in the day by CEP Art & Design. The EDA Marketing Committee had met with Cindi Edwards-Plant of CEP Art & Design at a morning meeting prior to the EDA meeting of Apr i I 8. Suggested changes to the layout included the slogan on the front page as well as the logo that appears throughout the brochure. Commissioner Dietz suggested that information on senior housing availability in Elk River be included somewhere in the brochure. President Gongoll suggested that one of the photos used in the brochure be that of the United Power Association Headquarters Building. e CEP Art & Design is currently bidding the job with four printers. Once that dollar figure is known, a contract will be presented to the EDA for approval. Commissioner Kropuenske suggested that this be done prior to a City Council meeting if it is convenient so as to expedite the project. He stated that later in the meeting, the. EDA will be considering a proposal to a Department of Trade and Economic Development Prospect. While the brochure will not be available for the proposal, the EDA and City does not wish to miss other opportunities to use the brochure. 4. Continuation of Open Mike - Carol Mills/Executive Director Guardian An~els Foundation of Elk River At this time Carol Mills provided the EDA with an overview of the Guardian Angels Foundation 1990 and 1991 strategic plan. The Board of Directors authorized the following plan: *Market analysis for strategic planning *Market analysis for congregate housing for the elderly *Rental survey of Guardian Angel Foundation's waiting list *Application to Farmers Home Administration for 60 units of congregate housing for the elderly e The results of this work plan indicated that there was a market demand for congregate housing. The study of the waiting list confirmed the market analysis, and an application for 60 units of congregate housing was submitted to Farmers Home Administration, but Farmers Home established a moratorium of a 24 unit limit for elderly housing. Guardian Angels Board of Directors voted to decline the 24 units and explored a larger project through the Department of Housing and Urban