08-12-1996 EDA MIN - Laserfiche WebLink

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Economic Development Authority Meeting August 12, 1996 Page 2 e 6. Discussion: Gazebo -.River's Edoe Downtown Development Corporation Representative The City Council has provided funding in the amount of $10,000 for the gazebo. This issue did not come before the EDA as a funding request. 7. Consider $50,000 Micro Loan for Jimichaelean Mufflers, Inc. The EDA Finance Committee moved to deny Jimichaelean Mufflers request for a $50,000 micro loan based upon the fact that the project would likely proceed without the use of the micro loan fund. COMMISSIONER DUITSMAN MOVED TO DENY JIMICHAELEAN MUFFLERS REQUEST FOR MICRO LOAN. COMMISSIONER BENDER SECONDED THE MOTION. THE MOTION CARRIED 7-0. 8. Approve 1997 EDA Budoet and Levy COMMISSIONER FARBER MOVED TO APPROVE THE 1997 EDA BUDGET IN THE AMOUNT OF $93,750. COMMISSIONER HOLMGREN SECONDED THE MOTION. THE MOTION CARRIED 7-0. e COMMISSIONER DUITSMAN MOVED TO APPROVE RESOLUTION 96-4, A RESOLUTION ESTABLISHING THE TAX LEVY FOR THE ELK RIVER ECONOMIC DEVELOPMENT AUTHORITY IN AND FOR THE CITY OF ELK RIVER, MINNESOTA. COMMISSIONER DWYER SECONDED THE MOTION. THE MOTION CARRIED 7-0. 9. Updates: E & 0 Tool. Gaone Option Aoreement Business Incubator Staff updated the EDA on the E & 0 Tool project, indicating they would not be pursuing construction of a new building at this time. The EDA Commission discussed locations for establishing a Business Incubator project. 10. Other Business None 11. Adiournment There being no further business, COMMISSIONER BENDER MOVED TO ADJOURN THE MEETING. COMMISSIONER FARBER SECONDED THE MOTION. THE MOTION CARRIED 7-0. The meeting of the Elk River Economic Development Authority was adjourned at . 6:37 p.m. e R~s~E?ctfully submitt~ .. ~ c)ltiU 13UA"d<<L- Michelle Dwyer (J . Recording Secretary