02-09-1998 EDA MIN - Laserfiche WebLink

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e MEETING OF THE ELK RIVER ECONOMIC DEVELOPMENT AUTHORITY HELD AT THE ELK RIVER CITY HALL MONDAY, FEBRUARY 9, 1998 Members Present: President Duitsman, Commissioners Dwyer, Holmgren, Farber, Gongoll, Thompson, and Bender Members Absent: None Staff Present: Paul Steinman, Executive Director; Sandra Thackeray, City Clerk; Pat Klaers, City Administrator; Lori Johnson, Assistant City Administrator; Dave Sellergren, City Attomey; Dave MacGillivray, Bond Consultant; Terry Maurer, City Engineer 1. Call Meetina To Order Pursuant to due call and notice thereof, the meeting of the Elk River Economic Development Authority was called to order at 6:00 p.m. by President Duitsman. 2. Consider Aaenda e COMMISSIONER FARBER MOVED TO APPROVE THE FEBRUARY 9, 1998, EDA AGENDA. COMMISSIONER HOLMGREN SECONDED THE MOTION. THE MOTION CARRIED 7-0. 3. Consider Consent Aaenda COMMISSIONER GONGOLL MOVED TO APPROVE THE CONSENT AGENDA AS FOLLOWS: 3.1. JANUARY 12, 1998, ANNUAL MEETING MINUTES - APPROVED 3.2. FEBRUARY 2, 1998, WORKSESSION MEETING MINUTES - APPROVED 3.3. CHECK REGISTER - APPROVED COMMISSIONER DWYER SECONDED THE MOTION. THE MOTION CARRIED 7-0. 4. Open Mike No one appeared for this item. 5. Tax Increment Financina Plan for Tax Increment Financina District No. 18 (Morrell) e Executive Director Paul Steinman updated the EDA on its previous discussion of February 2, 1998, regarding the Morrell request for tax increment financing. He indicated that the EDA consented to increase the tax increment funds to $350,000 adding an up front payment of $50,000 for clean up of the old site, with the balance of $300,000 to be on a pay-as-you-go basis. Paul Steinman indicated that following the February 2 decision of the EDA, the Morrell's have submitted a different request. The new request consists of $300,000 up front at