08-14-2000 EDA MIN - Laserfiche WebLink

Home Browse Search

Economic Development Authority Minutes August 14, 2000 Page 4 -- $30,200 shortfall in the Incubator budget is proposed to be funded through the use of funds generated by Tescom Corporation's loan repayment. It was the consensus of the EDA to approve the EDA and Business Incubator budgets as proposed. 7.3. Consider Resolution Establishina Tax Lew for the EDA COMMISSIONER KLINZING MOVED TO ADOPT EDA RESOLUTION 00-03 ESTABLISHING THE TAX LEVY FOR THE ELK RIVER ECONOMIC DEVELOPMENT AUTHORITY IN AND FOR THE CITY OF ELK RIVER, MINNESOTA. COMMISSIONER THOMPSON SECONDED THE MOTION. THE MOTION CARRIED 6-0. 8. Customer Service and Sitina/Exoansion Process Plan AoDrovaI - Anita Duckor City Administrator Pat Klaers explained that the customer service and client siting/expansion process was highlighted by the Industrial Marketing Committee as a key component of the overall Industrial Marketing Plan. Council member Thompson noted that he was a part of the Marketing Committee and highly recommended that the EDA accept Anita Duckor's proposal to help staff improve its customer service skills and siting/expansion process. ~ Anita Duckor of Duckor and Associates, Inc. gave a presentation of the Customer Service & Siting/Expansion Process Proposal. The total cost of the process is $15,SOO. The city administrator suggested that the cost be split SO/50 between the city and the EDA. COMMISSIONER GONGOLL MOVED TO HIRE ANITA DUCKOR OF DUCKOR AND ASSOCIATES, INC. TO PROCEED WITH THE CUSTOMER SERVICE AND SITING/EXPANSION PROCESS PLAN FOR THE CITY OF ELK RIVER AT A COST OF $15,500. COMMISSIONER THOMPSON SECONDED THE MOTION. THE MOTION CARRIED 6-0. 9. Consideration of Intearated Power Solutions for Incubator Proaram Marc Nevinski stated that Integrated Power Solutions (IPS) has submitted an application to enter the Business Incubator Program. He explained that IPS is a high-tech firm that has developed a process for manufacturing a solid state, thin film battery technology. He stated that the Incubator Advisory Board has reviewed the application and is recommending that the company be admitted to the program. Staff is proposing a lease of $5.00 per square foot with a SO/50 cash/stock ratio. Mark Jensen, president and CEO of the company provided a presentation on the company and its product. e COMMISSIONER GONGOLL MOVED TO APPROVE THE INCUBATOR APPLICATION FROM IPS, ADMITTING THE COMPANY TO THE BUSINESS INCUBATOR PROGRAM AT A LEASE OF $5.00 PER SQUARE FOOT WITH A 50/50 CASH/STOCK RATIO. COMMISSIONER THOMPSON SECONDED THE MOTION. THE MOTION CARRIED 6-0.