04-08-1996 EDA MIN - Laserfiche WebLink

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Economic Development Authority Minutes April 8, 1996 Page 3 e COMMISSIONER BENDER MOVED TO RECOMMEND THAT THE CITY COUNCIL SELECT THE OPTION-OUT PROVISION FOR MAKING A QUALIFYING LOCAL CONTRIBUTION OF 10 PERCENT OF THE TAX INCREMENT FINANCING ASSISTANCE TO THE DISTRICT USING FUNDS THAT WERE GENERATED FROM THE LAND SALE OF THE INDUSTRIAL PARK LOT TO THE SCHOOL DISTRICT. COMMISSIONER DWYER SECONDED THE MOTION. THE MOTION CARRIED 5-0. 8.1. Consider Contract for Private Development Executive Director Pat Klaers distributed a Contract for Private Development by and between the City of Elk River, the Economic Development Authority for the City of Elk River, and Marketech, Inc. The EDA reviewed the Contract for Private Development. COMMISSIONER BENDER MOVED TO APPROVE THE CONTRACT FOR PRIVATE DEVELOPMENT BY AND BETWEEN THE CITY OF ELK RIVER, THE ECONOMIC DEVELOPMENT AUTHORITY FOR THE CITY OF ELK RIVER, AND MARKETECH, INC. COMMISSIONER DWYER SECONDED THE MOTION. THE MOTION CARRIED 5-0. 9. Consider Reauest for Tax Increment Financina Assistance for Jerry McChesney- McChesney Cabinets e President Gongoll indicated that the EDA has received a verbal request for TIF assistance from Jerry McChesney. President Gongoll stated that the EDA discussed this issue at a worksession and indicated its approval of helping to keep Jerry McChesney's business in the community. He stated that a formal TIF application is anticipated some time soon. 11. Update on the Sustainable City Showcase Proiect Executive Director Pat Klaers updated the EDA on the Sustainable City Showcase selection process. He indicated that it is possible that the selection will be made soon. 12. Update on TL Feedina Systems - TIF District No. 13 Commissioner Duitsman updated the EDA on the TL Feeding Systems development project which is planned to take place on the west end of Business Center Drive. Commissioner Duitsman indicated that TL Feeding will be expanding from its original proposal. 13. Discussion on Strateaic Plan for City Economic Development Proaram President Gongoll indicated that in the process of working with the consultant in the hiring of a director of economic development it was determined that the city lacked an overall economic development strategic plan. The EDA reviewed the proposal from the Brimeyer Group to develop a strategic plan for economic development for the City. e Commissioner Bender indicated his concern that the new EDA director be involved in this process.