Laserfiche WebLink
ELK RIVER ECONOMIC DEVELOPMENT AUTHORITY <br /> MEMORANDUM <br /> • Item # 7.1 <br /> TO: Elk River EDA <br /> FROM: Cathy Mehelich, Director of <br /> Economic Development <br /> DATE: August 10, 2000 <br /> SUBJECT: Initiative Foundation Year 2001 <br /> Request for Funding <br /> Issue <br /> Attached for the EDA's consideration is a letter from the Initiative <br /> Foundation requesting an annual contribution for the year 2001 to <br /> support the Foundation's programming and fund raising campaign. <br /> Background <br /> With regard to the Initiative Foundation's past requests, the following <br /> has occurred: <br /> • 1997 - $5,000 contributed ($2,500 EDA, $2,500 City Council) <br /> • • 1998 - Request denied <br /> a 1999- Request denied <br /> The.Initiative Foundation is continuing to request the city's additional <br /> contribution of$14,950 to meet their total requested donation. In <br /> 1999, the EDA directed staff to provide a letter indicating the reasons <br /> for denying the contribution request. This letter is attached for your <br /> information. <br /> A contribution to the Initiative Foundation for the year 2001 has not <br /> included in the proposed EDA budget. The Foundation has <br /> participated on an investment level in recent years with the EDA's <br /> Business Incubator companies. <br /> Requested Action <br /> Staff requests direction from the EDA regarding the Initiative <br /> Foundation's recent request. <br /> Attachments <br /> • October 1999 Staff letter to Foundation <br /> • June 2000 Initiative Foundation Letter of Request <br /> • <br /> 13065 Orono Parkway • P. O. Box 490 • Elk River, MN 55330-1743 • (612)441-7420 • Fax (612) 441-7425 <br /> Equal Opportunity Housing and Equal Opportunity Employment <br />