02-14-1994 EDA MIN - Laserfiche WebLink

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3 FEASIBILITY STUDY FOR THE PROPOSED ICE ARENA, WITH THE UNDERSTANDING THAT THE FINANCE DIRECTOR WILL MAKE THE FINAL RECOMMENDATION TO THE EDA. COMMISSIONER HOLMGREN SECONDED THE MOTION. Rick Schroeder, Pee-Wee Hockey Coach, explained that ideally his players have two practices and one game a week, but they were only able to have a total of two practices during the whole month of December due to lack of available ice time. Don Crock; president of the E.R.Y.H.A., Tony Sarsland; Head Hockey Coach, and Commissioner Dietz offered comments supporting the point that the entire community would benefit from the proposed second ice arena. President Gongoll explained that the plan is to issue the bonds with the EDA as owner of the building. He stated that they are considering a set up similar to what they have now with the Elk River Youth Hockey Association Board being responsible for the operation and maintenance of the facility, but that it an official decision will come at a later date. Lori Johnson indicated that it may be more expensive for the EDA to finance the bonds, and that the City may need to issue them. Commissioner Dietz stated that the Youth Hockey Association is prepared to back up the $15,000 needed for the feasibility study if the project does not go. President Gongoll stated that this is documented in the minutes from the E.R.Y.H.A. Board meeting. THE MOTION CARRIED 6-0. PRESIDENT GONGOLL MOVED THAT THE EDA SUPPORT A FEASIBILITY STUDY FOR A PROPOSED SECOND ICE ARENA AT A COST NOT TO EXCEED $15,000, AND THAT THE COST OF THE FEASIBILITY STUDY BE RECOVERED FROM THE ELK RIVER YOUTH HOCKEY ASSOCIATION IN THE EVENT THE FEASIBILITY STUDY INDICATED THAT THE PROPOSED REVENUES FROM AN ARENA CANNOT SUPPORT THE BOND'S DEBT SERVICE. FURTHER, IT IS UNDERSTOOD THAT IF THE PROJECT PROCEEDS, THE COST OF THE FEASIBILITY STUDY WILL BE REIMBURSED TO THE EDA FROM THE BOND PROCEEDS. COMMISSIONER FARBER SECONDED THE MOTION. THE MOTION CARRIED 6-0. 7. Discuss Course of Action For EDA Main Street Redevelopment Site PRESIDENT GONGOLL MOVED TO AUTHORIZE STAFF TO PLAN A MEETING FOR DISCUSSION OF THE EDA MAIN STREET REDEVELOPMENT SITE, WITH REPRESENTATIVES OF THE FOLLOWING ORGANIZATIONS: -THE ELK RIVER EDA -CITY COUNCIL -DOWNTOWN DEVELOPMENT CORPORATION -CHAMBER OF COMMERCE BOARD -INTERESTED DEVELOPERS -CITY STAFF COMMISSIONER FARBER SECONDED THE MOTION. THE MOTION CARRIED 6-0.