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<br />e <br /> <br />e <br /> <br />e <br /> <br />EDA Meeting Minutes <br />August 11. 1997 <br />Page 2 <br /> <br />Sleep Systems, Inc. - This business is currently a home-based business in Plymouth, <br />MN. Halo has designed a product to be used in crib mattresses which draws <br />carbon dioxide away from a child's head. Research has indicated cases of <br />Sudden Infant Death Syndrome (SIDS)are linked to an excess buildup of carbon <br />dioxide when a child is sleeping. This product is designed as part of mattress <br />system, drawing carbon dioxide away from child's head. <br /> <br />Greener Pastures - This company uses natural substances such as gluten (a <br />byproduct of wheat) as a lawn supplement and garden treatment. Greener <br />Pastures would possibly utilize space as a dispatch and operations center. <br /> <br />MediCord - The company intends to produce a basal body temperature <br />recording device. Mr. Jacobs indicated he is working to have the Central MN <br />Initiative Fund hear their presentation for possible financing assistance. <br /> <br />Color Presentations - This company has patented a process for prototypes for <br />food labels. They are looking at leasing space on the 2nd floor of the Incubator <br />building. Paul Steinman indicated Color Presentations may be submitting an <br />application for admittance into the incubator in the near future. <br /> <br />Discussion followed regarding the Elk River Investment Club. Mr. Jacobs indicated <br />the initial 4 boardmembers will include Dennis Chuba, Larry Hickman, Richard <br />Gongoll, Bud Houlton and membership will be open to any accredited investor. <br />Chair Dwyer noted the Investment Club is a private entity and is not associated <br />with the EDA. <br /> <br />3. <br /> <br />Consider Consent Aoenda <br /> <br />COMMISSIONER BENDER MOVED TO APPROVE THE CONSENT AGENDA AS FOLLOWS: <br /> <br />3.1. EDA CHECK REGISTER - APPROVED <br />3.2. JULY 14, EDA MINUTES - APPROVED <br /> <br />COMMISSIONER FARBER SECONDED THE MOTION. THE MOTION CARRIED 4-0. <br /> <br />4. Open Mike <br /> <br />No one appeared for open mike. <br /> <br />5. Review/Approve 1998 Economic Development Authority Budoet <br /> <br />Paul reviewed various budget items with the Commissioners. <br /> <br />COMMISSIONER FARBER MOVED TO RECOMMEND APPROVAL OF THE 19978 BUDGET AND <br />RESOLUTION NO. 97--, A RESOLUTION ESTABLISHING THE TAX LEVY FOR THE ELK RIVER <br />ECONOMIC DEVELOPMENT AUTHORITY IN AND FOR THE CITY OF ELK RIVER, MINNESOTA. <br />COMMISSIONER THOMPSON SECONDED THE MOTION. THE MOTION CARRIED 4-0. <br />