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<br />. <br /> <br />. <br /> <br />. <br /> <br />Economic Development Authority Minutes <br />July 12, 1993 <br /> <br />Page 3 <br /> <br />8. <br /> <br />Business Park Update <br /> <br />Commissioner Dietz updated the EDA on the Business Park Task Force <br />Meeting which was held on June 29. He indicated that it was the <br />consensus of the Task Force that current industrial parks which are <br />privately owned are not suitable park locations. He stated that sewer <br />and water is needed as the industrial park would be unable to compete <br />with other cities without the availability of sewer and water. He <br />stated that the Task Force discussed two possible areas for an <br />industrial park; one area was the western area along Highway 10 and the <br />other was the eastern area along Highway 10. He stated that the Task <br />Force will be considering other areas at a future meeting. <br /> <br />Commissioner Duitsman stated that the development of an <br />with any needed assistance from Districts No. 1 and No. <br />high priority. <br /> <br />industrial park <br />3 funds is a <br /> <br />9. Financial Update <br /> <br />Pat Klaers, Executive Director, indicated that the Revolving Loan Fund <br />had a cash balance of $166,552.76 as of June 30, 1993. He further <br />stated that the City is requesting a statement of Expenses Payable for <br />the period ending June 30, in the amount of $15,772.04. After payment <br />of these expenses, the EDA will have a cash balance of approximately <br />$45,000. <br /> <br />COMMISSIONER SCHEEL MOVED TO APPROVE A PAYMENT OF $15,772.04 TO THE <br />CITY OF ELK RIVER. COMMISSIONER DIETZ SECONDED THE MOTION. THE MOTION <br />CARRIED 6-0. <br /> <br />10. <br /> <br />Prospect Status Report <br /> <br />The Prospect Status Report, which was sent under separate cover, was <br />discussed by the EDA. <br /> <br />11.1. Targeted Marketing Project <br /> <br />Pat Klaers indicated that the City has received a number of positive <br />responses regarding the targeted marketing puzzle which was sent to <br />approximately 475 industrial companies in the northwestern area of the <br />Twin Cities. He stated that 75 of the 475 that were sent out were sent <br />to local companies. <br /> <br />11.2. certified Development Company Update <br /> <br />Pat Klaers informed the EDA that Bill Rubin is working with <br />representatives in Wright and Sherburne Counties to evaluate other <br />existing Certified Development Companies. A July 15 luncheon meeting <br />is scheduled to hear a presentation from the Twin City Metro CDC. <br />