Laserfiche WebLink
ELK RIVER ECONOMIC DEVELOPMENT AUTHORITY <br /> MEMORANDUM <br /> TO: ECONOMIC DEVELOPMENT <br /> AUTHORITY <br /> FROM: WILLIAM RUBIN, EXECUTIVM <br /> DIRECTOR <br /> DATE: APRIL 6, 1994 <br /> SUBJECT: AGENDA MEMO FOR APRIL 11, 1994, <br /> EDA MEETING <br /> 5. Financial Update <br /> The following is a summary from Finance Director Lori Johnson: <br /> • Micro-Loan Fund <br /> On March 28, the EDA closed its loan with LaRose Enterprises <br /> in the amount of$25,000 for a restaurant project. On March 18, <br /> PureSteam Humidifier paid its Micro-Loan balance in full with <br /> a payment of $13,543.26. After these two transactions, the <br /> March 31, 1994, Micro-Loan cash balance was $119,590.91. <br /> There is one approved loan in the amount of $15,000.00 to <br /> Water Laboratories which has not yet been closed. As of Friday, <br /> April 8, 1994, all April loan payments are current with the <br /> exception of Alltool. <br /> ACTION REQUESTED <br /> This is an informational item only and no action is requested. <br /> 6. Joint Meeting with the Elk River Utilities Commission <br /> At a past EDA meeting, it was suggested that the EDA and the <br /> Utilities Commission conduct a joint meeting to discuss common issues <br /> as they relate to the alley between the Sunshine Depot and the Main <br /> • Street Redevelopment Site. From previous discussions, one concept <br /> entertained by the City/EDA was to vacate the alley and reroute utility <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 />