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iT~M #3.5. <br />wer <br />MEMORANDUM <br />TO: Economic Development Authority <br />FROM: Catherine Mehelich, Director of Economic Development <br />DATE: November 8, 2010 <br />SUBJECT: Consider Appointments to EDA Finance Committee <br />The EDA Finance Committee serves as a subcommittee of the EDA for review and <br />recommendation of the Economic Development Micro Loan applications. The committee has <br />traditionally included representatives from the community banks, business, legal and EDA/HRA <br />Commissioners. The committee meets on an as-needed basis. <br />Mr. Chad Vitzthum, Lead Market President of First National Bank of Elk River has indicated in <br />interest in serving on the EDA Finance Committee. The EDA is asked to formally approve his <br />appointment to the Finance Committee. <br />Other members of the 2010 EDA Finance Committee include: <br />EDA Finance Committee <br />Nate Ovall (The Bank of Elk River representative) <br />Cliff Lundberg (Business representative) <br />Chris Carlson (Business representative) <br />Larry Toth (HRA representative) <br />Dan Tviete (EDA representative) <br />Paul Motin (EDA representative) <br />Recommendation <br />Staff recommends that the EDA consider appointing Chad Vitzthum of First National Bank of Elk <br />River to the EDA Finance Committee. <br />