Laserfiche WebLink
<br />e <br /> <br />e <br /> <br />e <br /> <br />EDA Minutes <br />April 12, 1999 <br /> <br />Page 3 <br /> <br />COMMISSIONER KLINZING MOVED TO PROVIDE A $65,000 MICRO LOAN TO MARK <br />ROTH FORK AT A FIXED INTEREST RATE OF 7.75 PERCENT FOR A TERM OF 20 YEARS <br />WITH A BALLOON PAYMENT AT THE END OF YEAR FIVE. COMMISSIONER BENDER <br />SECONDED THE MOTION. THE MOTION CARRIED 7-0. <br /> <br />8. Other Business <br /> <br />COMMISSIONER GONGOLL MOVED TO CALL A SPECIAL MEETING OF THE EDA FOR <br />MONDAY, MAY 10, 1999 FROM 4-6 FOR THE PURPOSE OF RECEIVING AN OVERVIEW <br />OF THE BUSINESS INCUBATOR. COUNCILMEMBER FARBER SECONDED THE MOTION. <br />THE MOTION CARRIED 7-0. <br /> <br />Paul Steinman informed the EDA that the May 10 regular meeting will take <br />approximately 1 hour due to the EDA 1998 annual report presentation. <br /> <br />Paul Steinman informed the EDA that Northstar Die Casting is behind on its Micro <br />Loan Payments. He suggested beginning a process to protect the EDA's interests. <br /> <br />COMMISSIONER GONGOLL MOVED TO DIRECT STAFF TOP TAKE APPROPRIATE <br />MEASURES TO PROTECT THE EDA AGAINST REPERCUSSIONS NON-PAYMENT BY <br />NORTHSTAR. COMMISSIONER BENDER SECONDED THE MOTION. THE MOTION <br />CARRIED 7-9. <br /> <br />9. <br /> <br />Adjournment <br /> <br />There being no further business, COMMISSIONER MOTIN MOVED TO ADJOURN THE <br />EDA MEETING. COMMISSIONER FARBER SECONDED THE MOTION. THE MOTION <br />CARRIED 7-0. <br /> <br />The meeting of the Economic Development Authority adjourned at 7:30 P.M. <br /> <br /> <br /> <br />17~ <br /> <br />Sandra Peine <br />City Clerk <br />