03-24-2003 CC MIN - Laserfiche WebLink

Home Browse Search

City Council1;Iinutes March 24, 2003 Page 3 ----------------------------- Councilmembers Kuester and Dietz indicated d"lat the purpose of the Park Dedication Fund is to use the money for parks and indicated d"lat they did not concur with taking the money from other designated park projects to pay for the $3,500 shortfall. THE MOTION CARRIED 3-2. MAYOR KLINZING AND COUNCILMEMBERS TVEITE AND MOTIN VOTING AYE. COUNCILMEMBERS DIETZ AND KUESTER VOTING NAY. 5.3. Public Hearing on MN Investment Grant Application (Sportech. Inc. Expansion) Director of Economic Development Catherine Mehelich updated the Council on the grant application request to the MN Department of Trade and Economic Development. Ms. Mehelich indicated that the Economic Development Authority recommended that the City Council authorize staff to proceed with a loan application to d"le DTED Minnesota Investment Fund Grant in the amount of $200,000 for Sportech, Inc. She explained that the Minnesota Investment Fund Grant will be used to supplement other sources of public and private fInances for d"le Sportech, Inc. expansion project. Ms. Mehelich reviewed the details of the proposed project. Ms. Mehelich indicated that the purpose of d1e public hearing is to discuss details of the funding request to DTED and to discuss the impact tills proposed grant application has in meeting the City's housing and community development objectives. Ms. Mehelich reviewed the following terms of the loan as recommended by the EDA: . Loan purpose: Equipment fInancing . Term: 7-year amortization at 2% interest . Security: 1 st lien position on new equipment · Job/wage goals: Creation of 15 new full-time positions @ wage of$15/hour Mayor Klinzing opened the public hearing. There being no one for or against the matter, Mayor Klinzing closed the public hearing. COUNCILMEMBER TVEITE MOVED TO ADOPT RESOLUTION 03-18 ADOPTING A RESIDENTIAL ANTI-DISPLACEMENT, RELOCATION ASSISTANCE AND DISPLACEMENT MINIMIZATION PLAN FOR THE CITY OF ELK RIVER. COUNCILMEMBER DIETZ SECONDED THE MOTION. THE MOTION CARRIED 5-0. COUNCILMEMBER KUESTER MOVED TO ADOPT RESOLUTION 03-19 A LOCAL GOVERNMENT RESOLUTION FOR THE CITY OF ELK RIVER RELATING TO THE SUBMISSION OF A BUSINESS AND COMMUNITY DEVELOPMENT APPLICATION TO THE MINNESOTA DEPARTMENT OF TRADE AND ECONOMIC DEVELOPMENT ON BEHALF OF SPORTECH, INC. COUNCILMEMBER DIETZ SECONDED THE MOTION. THE MOTION CARRIED 5-0. COUNCILMEMBER TVEITE MOVED TO ADOPT RESOLUTION 03-20 REQUESTING DESIGNATION OF THE ECONOMIC DEVELOPMENT AUTHORITY OF THE CITY OF ELK RIVER AS A LOCAL DEVELOPMENT ORGANIZATION. COUNCILMEMBER MOTIN SECONDED THE MOTION. THE MOTION CARRIED 5-0.