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<br />. <br /> <br />. <br /> <br />. <br /> <br />Economic Development Authority Minutes <br />March 8, 1993 <br /> <br />Page 3 <br /> <br />President Gongoll opened the public hearing. There being no one for or <br />against the matter, President Gongoll closed the public hearing. <br /> <br />COMMISSIONER FARBER MOVED TO APPROVE THE SALE OF LAND IN THE ELK RIVER <br />INDUSTRIAL PARK SECOND ADDITION OF LOTS 2 & 3 TO TESCOM CORPORATION <br />SUBJECT TO THE TERMS AND CONDITIONS WHICH WILL BE OUTLINED IN THE <br />CONTRACT FOR PRIVATE DEVELOPMENT. COMMISSIONER DWYER SECONDED THE <br />MOTION. THE MOTION CARRIED 6-0. <br /> <br />9. Consider Revisions to EDA Loan Policy Guidelines <br /> <br />Bill Rubin explained that the EDA Finance Committee has met to review <br />and discuss changes for the existing loan policy guidelines. He stated <br />that upon their review, the Committee members have suggested minor <br />revisions to the loan policy. The Economic Development Authority <br />reviewed the revisions made by the EDA Finance Committee. <br /> <br />COMMISSIONER DIETZ MOVED TO APPROVE THE REVISIONS TO THE EDA REVOLVING <br />LOAN POLICY GUIDELINES. COMMISSIONER FARBER SECONDED THE MOTION. THE <br />MOTION CARRIED 6-0. <br /> <br />10. <br /> <br />Consider 1993 Minnesota Housing Finance Agency Home Mortgage Program <br /> <br />EDA has participated in the MHFA home <br />Bill Rubin explained that with <br />part of the Twin Cities metro area, <br />qualifying income for the program <br /> <br />Bill Rubin explained that the <br />mortgage program in 1991 and 1992. <br />Sherburne County's designation as <br />it is possible that the 1993 maximum <br />will be increased to $40,800. <br /> <br />COMMISSIONER GONGOLL MOVED TO AUTHORIZE STAFF TO PREPARE AN APPLICATION <br />FOR A RESERVATION OF MHFA FUNDS FOR FIRST TIME HOME BUYERS IN ELK <br />RIVER. COMMISSIONER DIETZ SECONDED THE MOTION. THE MOTION CARRIED 6-0. <br /> <br />11. Update on EDA Main Street Redevelopment Site <br /> <br />Bill Rubin indicated that Gary Santwire of R.E.P. Ltd., indicated that <br />he would make a presentation to the EDA at its March 8, meeting to <br />inform the EDA of the status of his proposal for the Main Street site. <br />Bill Rubin indicated that Mr. Santwire has not provided any information <br />nor is he available for tonight's meeting. <br /> <br />Commissioner Dietz suggested putting a time limit on the property for <br />other developers to present proposals and, at the end of the time <br />limit, make a decision to turn the property into a park. <br /> <br />Commissioner Gongoll indicated that there are other <br />interested in the site. Commissioner Dwyer stated that <br />shows that the property is not the most desirable site. <br />merchants want to see the site developed. He indicated he <br />in favor of putting a short term deadline of removing the <br />the market. <br /> <br />developers <br />the market <br />The downtown <br />would not be <br />property from <br /> <br />Discussion was held by the EDA regarding filling in the <br />cost it would take to bring the site up to street grade. <br /> <br />hole and the <br />The Executive <br />