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90 <br /> ,-.Q ---\. <br /> \ . . <br /> ity of ,1 <br /> .lkRiver MEMORANDUM <br /> TO: Economic Development Authority <br /> FROM: Pat Klaers, City Admi is#,rator <br /> DATE: May 8, 2000 <br /> SUBJECT: Northstar Die Casting <br /> The EDA has initiated legal action in order to collect the balance due on a <br /> micro loan from Northstar Die Casting. Subsequently, Northstar Die Casting <br /> has initiated legal action against the city, which essentially claims that our <br /> action, or inaction, played a role in the company going out of business. Past <br /> direction from the EDA has been to pursue full payment, and in an executive <br /> session, I would like to discuss some settlement options. <br /> III <br /> • <br /> ID <br /> 13065 Orono Parkway • P.O. Box 490 • Elk River, MN 55330 • TDD&Phone: (612) 441-7420 • Fax: (612) 441-7425 <br />