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ELK RIVER ECONOMIC DEVELOPMENT AUTHORITY <br /> MEMORANDUM <br /> TO: ECONOMIC DEVELOPMENT AUTHORITY <br /> FROM: WILLIAM RUBIN, EXECUTIVE DIRECTO In <br /> 1 , <br /> DATE: JULY 6, 1994 <br /> SUBJECT: AGENDA MEMO FOR JULY 11, 1994, EDA MEETING <br /> 5. Financial Update <br /> The following is a summary from Finance Director Lori Johnson: <br /> Micro Loan Fund - The Micro Loan Fund had a cash balance of <br /> $132,328.66 on June 30, 1994. As of July 7, all July payments <br /> • are current with the exception of Alltool, Indy Lube, Woodsmen <br /> Quality Products, and Designing Women of Elk River. <br /> Block.Grant Micro Loan Fund This Fund had a cash balance of <br /> $5,463.21 on June 30, 1994. Tescom is current on its loan <br /> payment. <br /> ACTION REQUESTED <br /> This is an informational item only and no action is requested. <br /> 6. Interim Park Improvements/EDA Main Street Site <br /> At the June EDA meeting, Commissioners discussed alternatives to <br /> redeveloping the EDA Main Street site. Although still committed to <br /> eventual redevelopment, Commissioners desired some interim <br /> improvements to this site. As a result of a public works project along <br /> Jackson Road, the City of Elk River can access excess fill material at a <br /> relatively inexpensive price. The sentiment of the EDA <br /> Commissioners is to utilize the fill material on this site to create a <br /> "open space" until the property is redeveloped. <br /> • <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 />