09-12-1994 EDA MIN - Laserfiche WebLink

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EDA Minutes September 12, 1994 Page 2 to review the proposed changes. He noted that he may make some additions regarding the Open Meeting Law. Commissioner Dwyer arrived at this time (7:12 p.m.). It was the consensus of the EDA to recommend that other commissions should be given time to review the proposed ordinance changes and make comments. 5.1. Consider September EDA Financial Update Bill Rubin review the following financial summary provided by Finance Director Lori Johnson: Micro Loan Fund On August 31, 1994, the Micro Loan Fund had a cash balance of $148,715.17. All loan payments are current with the exception of Americlnn. Block Grant Micro Loan Fund The balance in this fund was $10,645.17 as of August 31, 1994. 5.2. Statement of Expenses Bill Rubin provided the following overview of EDA expenses through August 31, 1994: Personal Services Office Supplies & Charges Contractual Services Transfer to General Fund $1 6, 833.24 529.94 37,092.19 1,000.00 Total Due to City of Elk River $ 55,455.37 Bill explained that the following items are included under contractual services: -Annual $6,000 contribution to Chamber of Commerce -Development activities such as the business park appraisal and independent analysis of the ice area project -Advertising costs include the newsletter, inserts for the City brochure, and advertising in marketing publications. COMMISSIONER DUITSMAN MOVED APPROVAL OF EDA STATEMENT OF EXPENSES. COMMISSIONER FARBER SECONDED THE MOTION. THE MOTION CARRIED 7-0. . 6. Consider a Recommendation from the EDA to the City Council Reqardinq the Proposed Business Park Rezoninq Bill Rubin provided an overview of the history of the proposed business park (B-P) rezoning. He stated that the Planning Commission unanimously recommended that the City Council approve the B-P rezoning. Previously, the EDA Business Park Task Force, by consensus, recommended that the Planning Commission, EDA,