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ELK RIVER ECONOMIC DEVELOPMENT AUTHORITY <br /> MEMORANDUM <br /> TO: ECONOMIC DEVELOPMENT <br /> AUTHORITY <br /> FROM: WILLIAM RUBIN, EXE CUTIV 12 <br /> DIRECTOR <br /> DATE: SEPTEMBER 12, 1994 <br /> SUBJECT: AGENDA MEMO FOR THE <br /> SEPTEMBER 12, 1994, EDA MEETING <br /> 5. September Financial Update <br /> The following is a summary from Finance Director Lori Johnson: <br /> Micro Loan Fund On August 31, 1994, the Micro Loan Fund <br /> • had a cash balance of$148,715.17. As of September 8, 1994, all <br /> loan payments are current with the exception of Americlnn and <br /> Beaudry Convenience which have not made their September <br /> payments. <br /> Block Grant Micro Loan Fund - The balance in this fund was <br /> $10,645.17 as of August 31, 1994. <br /> ACTION REQUESTED <br /> This is an informational item only and no action is requested. <br /> 6. Recommendation on Business Park Rezoning <br /> On September 19, the Elk River City Council will conduct a public <br /> hearing on its initiative to rezone approximately 150 acres of land in <br /> the western part of the community to the B-P, Business Park zoning <br /> designation. A map outlining the parameters of the B-P area is <br /> included in the agenda packet. The EDA Business Park Task Force <br /> met on August 16 and discussed the B-P rezoning. It was the <br /> consensus of the Task Force to support the rezoning action. The initial <br /> • public hearing on the B-P rezoning was conducted by the Elk River <br /> Planning Commission on August 23, 1994. The Planning Commission <br /> P.O. Box 490 • 13065 Orono Parkway • Elk River, MN 55330-1743 • (612) 441-7420 • Fax: (612) 441-7425 <br /> Equal Opportunity Housing and Equal Opportunity Employment <br />