Laserfiche WebLink
<br />. <br /> <br />. <br /> <br />. <br /> <br />Economic Development Authority Meeting <br />May 10, 1993 <br /> <br />Page 3 <br /> <br />RUBIN DATED MAY 5, 1993, AND WITH THE SECOND REVISION TO STATE AS <br />FOLLOWS: THAT THE INTEREST RATE BE TIED TO THE LOWEST PRIME RATE AS <br />PUBLISHED IN THE WALL STREET JOURNAL AND THE INTEREST RATE MAY BE <br />ADJUSTED AT INTERVALS THAT ARE MUTUALLY AGREED TO BY THE EDA AND THE <br />BUSINESS. COUNCILMEMBER HOLMGREN SECONDED THE MOTION. THE MOTION <br />CARRIED 7-0. <br /> <br />8. <br /> <br />Business Park Concepts <br /> <br />Bill Rubin stated that at its April meeting, Commissioner Dwyer <br />suggested that the EDA explore a second Industrial Park location. He <br />indicated that the issue regarding the course that the EDA will take in <br />developing the second Industrial Park should be discussed. He stated <br />that issues such as ownership, the role of the EDA financing, and <br />business park standards will need to be discussed by the EDA. <br />President Gongoll suggested establishing a task force to discuss these <br />issues. He suggested that Commissioner Dwyer chair the Task Force and <br />that Commissioner Dietz serve as a City Council representative. <br /> <br />COMMISSIONER HOLMGREN MOVED TO APPOINT A TASK FORCE CONSISTING OF BILL <br />RUBIN, PRESIDENT GONGOLL, COMMISSIONER DWYER, COMMISSIONER DIETZ, A <br />CHAMBER REPRESENTATIVE, AND THE EDA RESEARCH AND DEVELOPMENT COMMITTEE, <br />TO RESEARCH THE CONCEPT OF DEVELOPING A SECOND INDUSTRIAL PARK AND THAT <br />THE TASK FORCE REPORT BACK TO THE EDA IN NINE MONTHS. COMMISSIONER <br />GONGOLL SECONDED THE MOTION. THE MOTION CARRIED 7-0. <br /> <br />9. <br /> <br />Finalize Marketing Project <br /> <br />Bill Rubin reviewed a draft of the puzzle that was discussed at the EDA <br />meeting. The puzzle is a marketing concept which would be mailed to a <br />variety of industry specific companies. It was the consensus of the <br />EDA to approve the puzzle marketing concept. <br /> <br />10. Prospect Report <br /> <br />The EDA reviewed the Prospect Report which was sent under separate <br />cover. <br /> <br />11. Other Business <br /> <br />There was no other business. <br /> <br />12. Staff Updates <br /> <br />Bill Rubin informed the EDA that the closing on the Tescom Project is <br />scheduled for May 14. <br /> <br />Bill Rubin informed the EDA that the Minnesota Housing Finance Agency <br />intends to make $47.5 million dollars available for the first time <br />homebuyer program. He indicated that each applicant requesting funds <br />will more than likely receive a lower amount than requested. He stated <br />