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MEETING OF THE HOUSING AND REDEVELOPMENT AUTHORITY <br /> HELD AUGUST 29, 1988 <br /> ELK RIVER CITY HALL CONFERENCE ROOM <br /> IIIIII Members Present: Chair, Estelle Gunkel, Larry Toth, Dick Hinkle,Duane <br /> Kropuenske <br /> Member Absent: Hank Duitsman <br /> Others Present: Lori Johnson, Finance Director, Patrick Klaers, City <br /> Administrator <br /> 1. Pursuant to due call and notice thereof, the meeting of the Elk River <br /> Housing and Redevelopment Authority was called to order by Chair Gunkel. <br /> 2. Consideration of HRA Agenda <br /> COMMISSIONER TOTH MOVED TO APPROVE THE 8/29/88 HRA AGENDA. COMMISSIONER <br /> HINKLE SECONDED THE MOTION. THE MOTION CARRIED 4-0. <br /> 3. Consideration of March 14, 1988 HRA Minutes <br /> COMMISSIONER KROPUENSKE MOVED TO APPROVE THE 3/14/88 MINUTES AS SUBMITTED. <br /> COMMISSIONER TOTH SECONDED THE MOTION. THE MOTION CARRIED 4-0. <br /> 4. Update on 1988 HRA Financial Status <br /> • Finance Director, Lori Johnson, reviewed her memo to the HRA that <br /> discussed the financial status of the HRA as of August, 1988. Ms. Johnson <br /> indicated that the HRA currently has a fund balance of $22,873.95. <br /> Additionally, it is anticipated that approximately $8,500.00 will be <br /> received in the later part of 1988. Ms. Johnson also noted that the HRA <br /> has been receiving the Economic Development Authority (EDA) funds until <br /> the EDA had set up its bank account. The establishment of the EDA bank <br /> account has taken place and it would now be appropriate for the HRA to <br /> transfer out of its fund the EDA monies. The amount that needs to be <br /> transferred out is $17,392.76. <br /> COMMISSIONER HINKLE MOVED TO TRANSFER $17,392.76 FROM THE HRA ACCOUNT TO <br /> THE EDA ACCOUNT. COMMISSIONER TOTH SECONDED THE MOTION. THE MOTION <br /> CARRIED 4-0. <br /> 5. 1988 HRA Expenditures <br /> The City Administrator reviewed with the HRA the 3/14/88 HRA minutes where <br /> action was taken for the expenditure of HRA funds when monies became <br /> available. The HRA concurred that the spending of $10,000.00 for the <br /> downtown lighting redevelopment project and the spending of $10,000.00 for <br /> the completion of the City Growth Management Plan were appropriate <br /> expenditures and requested the Finance Director to make those financial <br /> transactions. <br /> • <br />