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<br />e <br /> <br />e <br /> <br />e <br /> <br />Economic Development Authority Meeting <br />November 10. 1997 <br /> <br />Page 5 <br /> <br />Discussion took place regarding the development standards for the proposed <br />project. It was noted that when the city provides financial assistance. typically <br />higher development standards for a project are required. Terry Morrell <br />indicated that cost is the number one issue and that if the standards go up. they <br />will most likely have higher costs and no project can then take place. A number <br />of Commissioners agreed that the standards approved by the City Council in <br />October are acceptable even with TIF assistance. <br /> <br />It was the general consensus of the EDA to support tax increment financing for <br />the project. <br /> <br />10. Prospect Report/Activity Update <br /> <br />No information on this item was provided. Paul stated that information on <br />prospects and activities from September/October/November would be <br />available at the next EDA meeting. <br /> <br />11.1. Marketina Video <br /> <br />The EDA decided to review the video at the next meeting. <br /> <br />11.2. MAS Technoloav Update <br /> <br />Paul Steinman indicated that MAS Technology has decided against an Elk River <br />incubator location. <br /> <br />12. <br /> <br />Adjournment <br /> <br />There being no further business. COMMISSIONER HOLMGREN MOVED TO <br />ADJOURN THE ECONOMIC DEVELOPMENT MEETING. COMMISSIONER FARBER <br />SECONDED THE MOTION. THE MOTION CARRIED 6-0. <br /> <br />The meeting of the Elk Riv~r Economic Development was adjourned at 7:58 p.m. <br /> <br />Respectfully submitted. <br /> <br /> <br />~~4!::S~ <br /> <br />City Administrator <br />