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ELK RIVER ECONOMIC DEVELOPMENT AUTHORITUv <br /> • <br /> TO: ECONOMIC DEVELOPMENT AUTHORITY <br /> FROM: WILLIAM RUBIN, ED COORDINATOR <br /> DATE: AUGUST 4, 1993 <br /> SUBJECT: AGENDA MEMO FOR THE AUGUST 9, 1993, EDA MEETING <br /> 5 . FINANCIAL UPDATE <br /> The following is a summary from Finance Director, Lori <br /> Johnson: <br /> Revolving Loan Fund The Revolving Loan Fund had a <br /> cash balance of $174,902 .78 on July 31, 1993; this <br /> balance does not include interest income. As of <br /> August 5, all August payments have been received <br /> except for Roma Tool and PureSteam. <br /> This is an informational item only and no action is <br /> requested. <br /> 6 . EDA MAIN STREET SITE <br /> Mr. Chris Bulow of the Bruce Company will again be in <br /> attendance to provide EDA Commissioners and staff with an <br /> update of the progress he has made on his redevelopment <br /> project since the last EDA meeting. <br /> 7 . AGREEMENT FOR CITY VIDEO <br /> Enclosed for execution by the EDA is a revised agreement <br /> by and between Diversified Marketing Resource, Inc. , and <br /> the Elk River Economic Development Authority. At its <br /> meeting on July 26, EDA Commissioners suggested that the <br /> proposed cost of this video be investigated to determine <br /> its competitiveness. That has been done, and, by all <br /> accounts, a six to eight minute video for less than $6,000 <br /> is indeed competitive. <br /> EDA Commissioners should note the following revisions to <br /> the agreement: <br /> a. EDA will receive 15 copies, rather than one copy <br /> of the completed video presentation. <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 />