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<br />Economic Development Authority Minutes <br />August 14,2000 <br /> <br />Page 5 <br /> <br />e <br /> <br />10. <br /> <br />Consider Northstar Die Castina Settlement <br /> <br />City Administrator Pat Klaers stated that a verbal agreement has been reached <br />with Northstar Die Casting regarding the lawsuit for the repayment of the balance <br />on a micro loan. He noted that the agreement requires Northstar Die Casting to <br />pay the city $1,000 per month for 36 months with an agreement for a Confession <br />of Judgment. <br /> <br />COMMISSIONER KOENIG MOVED TO ENTER INTO THE AGREEMENT WITH NORTH STAR <br />DIE CASTING UNDER THE TERMS AND CONDITIONS DISCUSSED BY THE CITY <br />ADMINISTRATOR. COMMISSIONER MOTIN SECONDED THE MOTION. THE MOTION <br />CARRIED 6-0. <br /> <br />11 . Other Business <br /> <br />President Dwyer indicated that due to the lateness of the meeting, the report on <br />staff's progress on the marketing plan would be presented in September. <br /> <br />12. Adiournment <br /> <br />There being no other business, COMMISSIONER MOTIN MOVED TO ADJOURN THE <br />MEETING. COMMISSIONER KOENIG SECONDED THE MOTION. THE MOTION <br />CARRIED 6-0. <br /> <br />- <br /> <br />The meeting of the Elk River Economic Development Authority adjourned at <br />7:27 pm. <br /> <br />~'M~a>>- <br /> <br />Sandra Peine <br />City Clerk <br /> <br />e <br />