11-09-1992 EDA MIN - Laserfiche WebLink

Home Browse Search

. . . Economic Development Authority Minutes November 9, 1992 Page 3 There being no comments on this matter, President Gongoll closed the public hearing. COMMISSIONER DIETZ MOVED TO APPROVE THE SALE OF LOT 1, BLOCK 1, ELK RIVER INDUSTRIAL PARK TO TIMRON PRECISION GEAR, INC., SUBJECT TO THE APPROVAL BY THE CITY COUNCIL OF A REQUEST FOR TAX INCREMENT FINANCING AND SUBJECT TO THE TERMS AND CONDITIONS OF A DEVELOPMENT CONTRACT. COMMISSIONER KROPUENSKE SECONDED THE MOTION. THE MOTION CARRIED 6-0. 9. Consider Development Agreement between the Elk River EDA and Timron precision Gear Bill Rubin explained that although the Developer's Agreement has been drafted, the minimum market value for the property has not yet been determined. He requested the EDA to take no action on the Developer's Agreement until the Sherburne County Assessor's office can establish a minimum market value for the property. It was the consensus until such time that a Assessor's office. of the EDA to take no action on this agreement minimum market value is established by the 10. Review of Dr. Ken Stone's Presentation President Gongoll requested this item be on the agenda and stated that the EDA should be the catalyst for distributing this type of information to local retailers. The EDA discussed Dr. Stone's presentation and concurred with President Gongoll. The EDA directed staff to put together some information and resources that could be useful to retailers in Elk River regarding this subject. 11. Funding Alternatives - Relocation Alternatives - Custom Motors commissioner Dietz informed the EDA that the City Council previously discussed the operation of Custom Motors on Highway 10 and directed Custom Motors to consider relocation of their business. The Council also referred this matter to the EDA regarding relocation alternatives and potential sources of funding assistance for Custom Motors. After discussion regarding this matter, it was the consensus that the City must identify potential sites for relocation and identify types of assistance in funding for the relocation. The EDA directed Bill Rubin to work with the Building and zoning Administrator regarding this issue and requested the issue to be brought back at a later meeting. 12. Prospect Report The Prospect Report which was sent under separate cover was discussed. Rich Duggan, owner of Marketech, Inc., introduced himself and described his company to the EDA.