09-13-1999 EDA MIN - Laserfiche WebLink

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Economic Development Authority Minutes September 13, 1999 Page 4 e President Dwyer suggested that it be specifically defined under Item # 7 that a personal guarantee is required. COMMISSIONER FARBER MOVED TO APPROVE THE REVISED MICRO LOAN FUND POLICIES AND GUIDELINES AS AMENDED. COMMISSIONER GONGOLL SECONDED THE MOTION. THE MOTION CARRIED 6-0. 7. Present Results of Business Retention and Expansion Survey Proaram This item was postponed to the October 11, 1999, EDA meeting. 8. Consider Proposal to Purchase Eull Property The City Administrator informed the EDA that a requirement of the settlement agreement between the City of Elk River and the Eull property relating to the east Elk River assessment project requires that the city consider the purchase of all or a portion of the Eull property that is being assessed. President Dwyer noted his concern regarding the lack of light industrial zoned (not business park) property located in the city. He noted that if funds were available, he would be in favor of purchasing the Eull property. e It was the consensus of the EDA that funding is not available for the purchase of this property. Paul Steinman noted that staff would continue to work with the Eull's to provide industrial contacts. COMMISSIONER KLINZING MOVED TO DECLINE THE OFFER TO PURCHASE THE EULL PROPERTY. COMMISSIONER FARBER SECONDED THE MOTION. THE MOTION CARRIED 6-0. 9. Other Business/Updates Paul Steinman informed the EDA that $141,057 in revenue from the 2000 levy will be received. 10. Adiournment There being no other business, COMMISSIONER FARBER MOVED TO ADJOURN THE MEETING. COMMISSIONER MOTIN SECONDED THE MOTION. THE MOTION CARRIED 6-0. The meeting of the Elk River Economic Development Authority adjourned at 7:28 p.m. s~~aJA- City Clerk e