Laserfiche WebLink
-,( <br /> tyof TO: ECONOMIC DEVELOPMENT AUTHORITY <br /> lkRiver FROM: WILLIAM RUBIN, ED COORDINATO <br /> U ' . <br /> DATE: FEBRUARY 3, 1993 <br /> SUBJECT: AGENDA MEMO FOR FEBRUARY 8, 1993 <br /> EDA MEETING <br /> 5 . Financial Update <br /> The following is a summary from Finance Director, Lori <br /> Johnson: <br /> Revolving Loan Fund <br /> The Revolving Loan Fund had a cash balance of <br /> $207, 125.03 as of January 31, 1993, excluding January <br /> interest which has not yet been allocated. All loan <br /> payments are current. <br /> The Economic Development Authority had a cash balance <br /> of $63,655. 10 as of January 31, 1993. <br /> • This is an informational item only and no action is <br /> requested. <br /> 6 . Tescom TIF Plan <br /> Background on this topic, including an outline of the <br /> proposed timetable to complete the creation of TIF <br /> District No. 9 is found in a separate memo. <br /> 7 . Set Public Hearing Date for the Sale of EDA-Tescom Site <br /> State law requires that an EDA conduct a public hearing on <br /> the proposed sale of any property owned by the agency. <br /> The proposed sale relates to the Tescom Corporation <br /> expansion project in the Elk River Industrial Park and is <br /> consistent with the property to be outlined in the TIF <br /> Plan. A draft of the public hearing notice is included in <br /> the agenda packet. The public hearing is tentatively <br /> scheduled for March 8, 1993, immediately following the <br /> hearing on the TIF Plan. <br /> ACTION REQUESTED <br /> The EDA is asked to authorize a public hearing on March 8, <br /> • 1993, to discuss the terms and conditions of the sale of <br /> property in the Elk River Industrial Park to Tescom <br /> Corporation. <br /> 720 Dodge Avenue N.W., Elk River, Minnesota 55330 (612) 441-7420 <br />