02-09-1998 EDA MIN - Laserfiche WebLink

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e e e Economic Development Authority Minutes Februarv 9. 1998 Page 4 requested the EDA to call a special worksession due to the complexity of the project. Pat Pelstring gave an overview of the financial issues and application which was submitted. COMMISSIONER GONGOLL MOVED TO CALL A SPECIAL WORKSESSION OF THE EDA ON MARCH 9, 1998, FROM 4:30 TO 6:00 P.M. FOR THE PURPOSE OF DISCUSSING THE TAX INCREMENT APPLICATION FOR THE HOHLEN PROPERTY. COMMISSIONER HOLMGREN SECONDED THE MOTION. THE MOTION CARRIED 7-0. 8. Prosoect ReDort/Activitv UDdates The Prospect Report/Activity Updates will be provided at the March EDA meeting. 9. Other Business EDA Finance Committee Vacancies - Paul Steinman informed the EDA that there are still two vacancies on the EDA Finance Committee. He indicated that these positions should be filled as soon as possible. North Star Die Castina Micro Loan - Paul Steinman informed the EDA that the North Star Die Casting Micro Loan has been completed. The company will be moving into the Roma Tool & Plastics building and hope to be in full operation by April 1. Greaa Karnis Micro Loan - Paul Steinman updated the EDA on the micro loan for Pattinicio's Restaurant requested by Gregg Karnis. He indicated that Mr. Karnis may not be leasing space from Sax and is considering the former Snyder Drug building. He indicated that Mr. Karnis will be requesting a micro loan in the amount of $50,000 to facilitate the project. 10. Adiournment There being no further business, COMMISSIONER THOMPSON MOVED TO ADJOURN. COMMISSIONER FARBER SECONDED THE MOTION. THE MOTION CARRIED 7-0. The meeting of the Elk River EDA was adjourned at 7:15 p.m. Respectfully submitted, ~~ Sandra Thackeray ~p City Clerk