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ELK RIVER ECONOMIC DEVELOPMENT AUTHORITY <br /> AD <br /> MEMORANDUM <br /> TO: ECONOMIC DEVELOPMENT <br /> AUTHORITY <br /> FROM: WILLIAM RUBIN, ECONOMIC <br /> DEVELOPMENT COORDINATO Yl.,.. <br /> DATE: JUNE 7, 1994 <br /> SUBJECT: AGENDA MEMO FOR JUNE 13, 1994 <br /> EDA MEETING <br /> 5. Financial Update <br /> For the May summary only, this update from Finance Director Lori <br /> Johnson will be submitted under separate cover. <br /> EDA Commissioners should contact Lori Johnson or the writer of this <br /> memo in the event of any questions or comments concerning the May <br /> financial update. <br /> EDA Commissioners should be aware of the following activity <br /> involving the Micro Loan Fund: <br /> • Closing on the Water Laboratories, Inc., $15,000 loan <br /> occurred on May 25; <br /> • The Coldwell Banker loan transfer occurred on May 31; the <br /> Loan Modification Agreement involving this transfer <br /> required that Coldwell Banker pay down its equipment loan, <br /> including May interest, for a total payment of approximately <br /> $7,400. <br /> 6. Business Park Appraisal <br /> The Economic Development Authority is in receipt of the Appraisal <br /> io which covers approximately 35 acres of the proposed Business Park. It <br /> is being reviewed, and, the BP Task Force subcommittee that was <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 />