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Economic Development Authority Minutes Page 2 <br />January 11, 2410 <br />3.5. APPOINTING COMMISSIONER TVEITE TO THE EDA FINANCE <br />AND MARKETING COMMITTEE FOR 2010 AND APPOINTING <br />COMMISSIONER MOTIN TO THE EDA FINANCE COMMITTEE <br />FOR 2010 <br />MOTION CARRIED 7-0. <br />4. ~ en Mike <br />Jeer Glltllph~'ey -distributed and read a letter asking for the resignation of EDA <br />Commissioner Ron Touchette due to Mr. Touchette's treatment of ERMU staff, city staff, <br />and legal counsel during a recent dispute over a past due utility bill. <br />Mr. Touchette denied Mr. Gumphrey's allegations, <br />Consensus of the EDA was to ref er this issue to the City Council f or fuzther investigation. <br />5, Election of Officers <br />MOVED BY COMMISSIONER ZERV~AS AND SECONDED BY <br />COMMISSIONER MOTIN TO RETAIN THE CURRENT OFFICERS AND <br />MAKE OFFICER ELECTIONS AT THE FEBRUARY EDA MEETING. <br />MOTION CARRIED 7-0. <br />6. Consider Ener~yCityMarketin~ Sponsorhip <br />Ms. Haug presented her staf f report. <br />Commissioner Tveite questioned where the funding would come froze. Ms. Mehelich <br />indicated that the sponsorship funding would come froze the marketing budget. Ms. <br />Mehelich noted that as part of the sponsorship, economic development wall. have an exhibit <br />at the EnergyExpo providing financial and business resources. Commissioner Tveite <br />suggested having a list of available commercial properties available at the Expo. <br />MOVED BY COMMISSIONER TVEITE AND SECONDED BY <br />COMMISSIONER KLINZING TO APPROVE A $5,000 SPONSORSHIP TO <br />ENERGY CITY FOR THE 4TH ANNUAL ENERGY EXPO AND TO <br />DISTRIBUTE MARKETING MATERIALS AT THE EXPO. MOTION CARRIED <br />7-0. <br />7. Discuss EDA Micro Loan -- Ethanol Technolo of MN LLC <br />Ms. Mehelich presented the staf f report. She stated that the city attorney advised this is a <br />policy decision, <br />Jim Campbell, Commercial Loan Officer, First National Bank of Elk River -explained that <br />the borrower is chronicallypast due and there is no indication he has the capacityto male <br />payments, Mr. Campbell added that the borrower has f ailed to provide required <br />documentation to the bank. He noted that the real estate taxes are also in def ault f or two <br />years. He stated it is the bank's intention to move f orward with collection of the bank loan. <br />He questioned if the EDA is interested in being represented bythe bank's legal counsel for <br />collection of the EDA's micro loan. <br />