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<br />EDA Meeting Minutes <br />December 9. 1996 <br /> <br />Page 3 <br /> <br />e <br /> <br />Paul indicated on informational meeting has been held and it appears there <br />may be commitments for approximately $125.000 in shores. A formal request has <br />been submitted to UPA to participate in this fund. <br /> <br />Former Osseo Broke Buildina <br /> <br />Paul noted the closing for this property is scheduled for this week. A company <br />will be relocating in this facility and purchasing additional acreage for <br />expansion next year. Paul indicated he expects a micro loan fund request for <br />the expansion. The company expects to hove 25 employees in the next couple <br />months and up to 50 employees when the entire operation is relocated. <br /> <br />8. Adjournment <br /> <br />There being no further business. COMMISSIONER FARBER MOVED TO ADJOURN <br />THE MEETING. COMMISSIONER HOLMGREN SECONDED THE MOTION. THE MOTION <br />CARRIED 5.0. <br /> <br />The meeting of the Elk River Economic Development Authority adjourned at 6:45 p.m. <br /> <br />e <br /> <br />Respectfully submitted. <br /> <br />j2~~ <br /> <br />Debbie Kleckner <br />Recording Secretory <br /> <br />e <br />