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City of <br /> ,4*, <br /> Elk Meeting of the Elk River EDA Finance Committee <br /> River Held at the Elk River City Hall <br /> Tuesday, September 22,2015 <br /> i <br /> Members Present: Paul Motin,Nate Ovall,Larry Toth, Dan Tveite, Ryan Hardin,Jennifer <br /> Wagner,and Chad Vitzhum <br /> Members Absent: None <br /> Staff Present: Economic Development Director Amanda Othoudt <br /> Also Present: • None <br /> 1. Call Meeting to Order <br /> Pursuant to due call and notice thereof, the meeting of the Elk River Finance Committee <br /> was called to order at 7:42 a.m. <br /> 2. Consider Agenda . <br /> Motion by•Motin and seconded by Vitzhum to'approve the September 22,2015 <br /> Finance Committee agenda. Motion carried 7-0. <br /> 3.0 Consent Agenda <br /> Motion by Toth and seconded by Motin to approve the Consent Agenda. <br /> Motion carried 7-0. . <br /> 4.1 Uncollectable Microloans <br /> Ms. Othoudt presented the staff report. <br /> Discussion was had among the members regarding obtaining an updated summary of the <br /> collection process and new cost estimate from the attorney in an effort to continue <br /> collection of the past due balance of the Ethanol Technology microloan. <br /> Members also agreed to continue to pursue collecting the balance of the Sweet Pea's <br /> Microloan. Member Ovall directed staff to work with the owners of Sweet Peas to adjust the <br /> Loan payment to something more affordable and extend the term in an effort to collect the <br /> debt. <br /> Motion-by Member Motin to pursue collection of the delinquent microloan. Motion <br /> was seconded by Member Toth. Motion carried 7-0. <br /> 5. Announcements 1 <br /> _.� I <br /> None — <br />