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ELK RIVER ECONOMIC DEVELOPMENT AUTHORITY <br /> • <br /> MEMORANDUM <br /> TO: ECONOMIC DEVELOPMENT AUTHORITY <br /> FROM: WILLIAM RUBIN,EXECUTIVE DIRECTOR <br /> DATE: AUGUST 8, 1994 <br /> SUBJECT: AGENDA MEMO FOR AUGUST 8, 1994 <br /> EDA MEETING <br /> 5. Financial Update <br /> The following is a summary from Finance Director Lori Johnson: <br /> Micro Loan Fund <br /> • <br /> Block Grant Micro Loan Fund <br /> ACTION REQUEST <br /> This is an information item only and no action is requested. <br /> 6. Update on Interim Improvements: EDA Main Street Site <br /> At its meeting on August 1, 1994, the City Council considered site improvement <br /> options for the EDA Main Street site. Thereafter, the following groups reviewed <br /> and commented on the proposed improvements: Area Chamber Board, Park and <br /> Rec Commission, and Downtown Development Corporation. The illustration <br /> receiving the greatest support was that of a patio area at street level and an <br /> amphitheater (concrete or grass)at the bottom. Additional suggestions included <br /> that of utilizing the artesian well for a fountain or waterfall within the project. <br /> It is expected that these improvements can be completed for $30,000 or less. This <br /> excludes the cost of the fill material which will be provided free of charge, as a <br /> result of the improvements to Jackson Road. The City Council has allocated <br /> . funds to pay for these interim improvements. Phil Hals and his staff are expected <br /> to begin work on these improvements as soon as their schedules permit. <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 />