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<br />Request for Action <br /> <br /> <br />To <br />Economic Development Authority <br />Item Number <br />6.1 <br />Agenda Section <br />General Business <br />Meeting Date <br />November 20, 2017 <br />Prepared by <br />Amanda Othoudt, EDD <br />Item Description <br />Director’s Report <br />Reviewed by <br />Cal Portner, City Administrator <br />Reviewed by <br /> <br /> <br />Action Requested <br />Information presented for discussion only in effort to keep the EDA updated on development activity. <br /> <br />Background/Discussion <br />BUSINESS VISITS <br />Twenty three BR&E visits have been completed this year. We will schedule one more before the <br />holidays to meet our goal of 24 visits, watch for the emails and please RSVP if you are able to attend. <br /> <br />Staff and Chair Toth met with Luke and Nicole Smith of Snap Fitness and Fuse Fitness Coaching. <br />They employ 5 PT Trainers and 1 PT Admin. They also own a Snap and Fuse in Champlin. They <br />assumed ownership here this year and held their grand opening on October 14, 2017. Mayor Dietz and <br />his wife Jayne attended the open house. Fuse Fitness, is a company created by Luke and Nicole and is <br />located next to Snap. Fuse focuses on specialize in customized strength workouts, individualized <br />cardiovascular conditioning plans and nutrition coaching. <br /> <br />Staff, Chair Toth, and CM Olsen met with Kevin Kloppner of Water Laboratories, Inc. a business that <br />tests samples of water for chloroform, E.coli, nitrates, lead and arsenic. They employ 1FT Admin and 4 <br />PT Lab Technicians. Their employees hold degrees in Bio Chemistry and Biology. They also sell water <br />testing kits at their office. <br /> <br /> <br />MISCELLANEOUS <br /> <br />Ethanol Technology <br />The district court granted our motion for summary judgment against Ethanol Technology, HiTech, and <br />Barton C. Wells in the amount of $78,028.00 plus attorney fees. The defendants have 60 days to appeal <br />the judgment, but since they did not oppose the EDA’s summary judgment motion, we do not expect <br />them to appeal or to have any basis for reversing the district court’s judgment. <br /> <br />Revolving Loan Fund Balance Reports <br />At the request of members, a copy of the Revolving Loan Fund report is attached. <br /> <br />Financial Impact <br />None