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<br />e <br /> <br />e <br /> <br />e <br /> <br />EDA Meeting Minutes <br />September 9, 1996 <br /> <br />Page 4 <br /> <br />on October 8, 1996, at 10:00 a.m. The governor and lieutenant governor have <br />been invited to attend, as well as Hazel O'Leary, Secretary of Energy. Chair <br />Gongoll suggested the business incubator program be presented to this group. <br /> <br />7.4. <br /> <br />Prospects <br /> <br />Paul noted staff is working with two prospects for a site in the Business Park. One <br />is a private Minneapolis-based development company, and the other is a <br />developer/business owner in another community. Discussion followed regarding <br />the concept of the EDA constructing a building and leasing it out. Further <br />discussion followed regarding issuing revenue bonds to finance construction of <br />a building vs. the EDA owning and leasing. It was the consensus of the EDA <br />Commissioners to further investigate this option. <br /> <br />7.5. Anoka-Sherburne County Capital Fund Investor Meetina <br /> <br />Paul indicated he is working with the Sherburne County Economic Development <br />staff to set up a meeting of possible Sherburne County banks and utility <br />companies to invest in the Anoka/Sherburne County Capital Fund. Paul <br />explained this fund could provide financing for the city's Business Incubator <br />Program. <br /> <br />8.1. Statement of Financial Activity for EDA Julv and Auaust <br /> <br />Information item for EDA Commissioners. <br /> <br />9. <br /> <br />Adiournment <br /> <br />There being no further business, COMMISSIONER HOLMGREN MOVED TO <br />ADJOURN THE MEETING. COMMISSIONER FARBER SECONDED THE MOTION. THE <br />MOTION CARRIED 7-0. <br /> <br />The meeting of the Elk River Economic Development Authority was adjourned at <br />6:45 p.m. <br /> <br />;a;;b~ <br /> <br />Debbie Kleckner <br />Recording Secretary <br />