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<br />Special Meeting of the Elk River Joint Finance Committee <br />Held at Elk River City Hall <br /> Thursday, February 11, 2021 <br /> <br /> <br />Members Present: Ryan Hardin, Charlie Blesener, Rhonda Magnussen, Dan Tveite(7:41 am), <br />Chad Vitzhum, Larry Toth <br /> <br />Members Absent: Nate Ovall and Denny Chuba <br /> <br />Staff Present: Colleen Eddy, Economic Development Specialist <br />Others Present:Mikaela Huot, Baker Tilly <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 Vice Chair Toth at 7:32 a.m. <br /> <br />2. Consider Agenda <br /> <br />Motion by Hardin and seconded by Vitzhum to approve the Joint Finance <br />Committee agenda. Motion carried 5-0. <br /> <br />3. Consent Agenda <br /> <br />Motion by Hardin and seconded by Magnussento approve the January 26, 2021Joint <br />Finance Committee meeting minutes. Motion carried 6-0. <br /> <br />4.1 Sportech LLC Tax Abatement Application <br /> <br />Ms. Eddy presented the staff report. Ms. Huot presented the financial analysis. The group <br />asked about job creation goals and how they would be managed and accounted for and it is a <br />14 year abatement but the lease is for 12 years. The job creation goals have state reporting <br />requirements and the lease concern could be addressed with the applicant. The group <br />discussed that Sportech is dedicated to this community and felt that they would be able to <br />fulfill the requirements. <br /> <br />Motion by Magnussen and seconded by Toth to recommend approval of the <br />Sportech LLC Tax Abatement application to the EDA. Motion carried 6-0. <br /> <br />4.2 COVID Small Business Emergency Loan application for Mystery Chambers <br />Ms. Eddy presented the staff report and the revised Mystery Chambers loan application. <br /> <br /> <br />