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<br />Economic Development Authority Minutes <br />September 11, 2000 <br /> <br />Page 2 <br /> <br />e <br /> <br />. Business Park Fact Sheets <br /> <br />The City Administrator updated the EDA on the progress taking place in regard to <br />the Siting/Expansion Process Plan. <br /> <br />6. Santwire (Ripplinaer /Norha) Proiect - Update <br /> <br />Cathy Mehelich reviewed the requested amendments to the subsidy assistance <br />and purchase agreements since the EDA approved the subsidy assistance for the <br />Santwire project. <br /> <br />COMMISSIONER KOENIG MOVED TO APPROVE THE AMENDMENTS TO THE SUBSIDY <br />ASSISTANCE AND PURCHASE AGREEMENTS FOR THE SANTWIRE PROJECT AS <br />PRESENTED. COMMISSIONER FARBER SECONDED THE MOTION. THE MOTION <br />CARRIED 7 -0. <br /> <br />I' <br /> <br />7. Olde Main Eatery Micro Loan <br /> <br />Marc Nevinski noted that the Olde Main Eatery has fallen behind in Micro Loan <br />payments. Marc suggested that the EDA modify the existing micro loan <br />agreement by having Olde Main Eatery pay the accrued interest through <br />September 2000 and re-amortizing the loan to adjust the payments to $505.54 per <br />month. <br /> <br />e <br /> <br />COMMISSIONER MOTIN MOVED TO MODIFY THE MICRO LOAN AGREEMENT FOR THE <br />OLDE MAIN EATERY. COMMISSIONER FARBER SECONDED THE MOTION. THE MOTION <br />CARRIED 7-0. <br /> <br />8. <br /> <br />Other Business <br /> <br />There was no other business. <br /> <br />9. Adiournment <br /> <br />There being no other business, COMMISSIONER THOMPSON MOVED TO ADJOURN <br />THE MEETING. COMMISSIONER MOTIN SECONDED THE MOTION. THE MOTION <br />CARRIED 7-0. <br /> <br />The meeting of the Elk River Economic Development Authority adjourned at 6:30 <br />p.m. <br /> <br />Sandra Peine <br />City Clerk <br /> <br />e <br />