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<br />Meeting of the Elk River Joint Finance Committee <br />Held at Elk River City Hall <br /> Held Via Zoom Meeting <br />Tuesday, May 26, 2020 <br /> <br /> <br />Members Present: Dan Tveite, Larry Toth, Ryan Hardin, Nate Ovall, Rhonda Magnussen, Chad <br />Vitzthum, and Michelle Eder <br /> <br />Members Absent: None <br /> <br />Staff Present: Amanda Othoudt, Economic Development and Colleen Eddy, Economic <br />Development Specialist <br /> <br />Others Present: Dan Walsh, Community Housing Development Corporation <br /> Mikaela Huot, Baker Tilley Municipal Advisors, LLC <br /> <br /> <br />1. Call Meeting to Order <br /> <br />Pursuant to due call and notice thereof, the meeting of the Elk River Joint Finance <br />Committee was called to order by Dan Tveite at 7:35 a.m. <br /> <br />2. Consider Agenda <br /> <br />Motion by Ovall and seconded by Toth to approve the May 26, 2020, Joint Finance <br />Committee agenda. <br /> <br />Motion carried 7-0. <br /> <br />3. Consent Agenda <br /> <br />Motion by Ovall and seconded by Eder to approve the May 26, 2020 Joint Finance <br />Committee consent agenda: <br /> 3.1. August 27, 2019 Joint Finance Committee meeting minutes <br /> 3.2. Revolving Loan Fund Balance report <br /> <br />Motion carried 7-0. <br /> <br />4.1 Housing TIF Application for Hillside Heights Apartments <br /> <br />Ms. Othoudt presented the staff report. The commission discussed various items; income <br />guidelines and rent levels, timing of the application as it coincides with the state tax credit <br />request, housing needs/quota, length of TIF funds, land use requirements for the area <br />proposed, and the need of a letter of support that would be included in the Tax Credit <br />request. <br />