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<br /> <br /> <br /> Elk River Joint Finance Committee <br /> <br />Held at Elk River City Hall <br />Tuesday, November 29, 2022 <br /> <br /> <br />Members Present: Charlie Blesener, Jim Gromberg, Ryan Hardin, Rhonda Magnussen, Dan <br />Tveite, and Nate Ovall <br /> <br />Members Absent: Chad Vitzthum and Jill Larson-Vito <br /> <br />Staff Present: Brent O’Neil, Economic Development Director <br /> Joshua Mollan, Economic Development Specialist <br /> <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 Chair Tveite at 7:40 a.m. <br /> <br />2. Consider Agenda <br /> <br />Motion by Hardin and seconded by Gromberg to approve the Joint Finance <br />Committee agenda. Motion carried 6-0. <br /> <br />3. Consent Agenda <br /> <br />Motion by Blesener and seconded by Ovall to approve the Consent Agenda, which <br />consisted of: <br /> The Joint Finance Committee meeting minutes for April 26, 2022. <br /> <br />Motion carried 6-0. <br /> <br />4.1 Proposal on Jackson Place Loan <br /> <br />Mr. O’Neil provided background information on the HRA’s past involvement in facilitating <br />the construction of the Jackson Place project, which included a loan to the owner, Metro <br />Plains. The funds used for the loan were from a CDBG grant the city received through the <br />State, which does not need to be paid back. The loan is for $400,000 over 30 years, with all <br />payments, including interest, deferred until the maturity date at the 30-year mark. Interest is <br />one-percent per year, compounded. <br /> <br /> <br /> <br /> <br /> <br /> <br />