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<br /> <br />Special Meeting of the Elk River <br />Joint Finance Committee <br />Held at Elk River City Hall <br />Tuesday, May 14, 2024 <br /> <br /> <br />Members Present: Lynn Caswell, Charlie Blesener, Ryan Hardin, Jim Gromberg, Chad Vitzthum, Dan <br />Tveite, Tony Sofio, and Nate Ovall <br /> <br />Members Absent: Rhonda Magnussen <br /> <br />Staff Present: Economic Development Director Brent O’Neil, and Economic Development <br />Specialist Joshua Mollan <br /> <br />Others Present: Annie Deckert – All Day Companies (virtual) <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 Committee was <br />called to order at 7:31 a.m. by Chair Tveite. <br /> <br />2. Consider Agenda <br /> <br />Moved by Gromberg and seconded by Hardin to approve the agenda. Motion carried 8-0. <br /> <br />3. Consent Agenda <br /> <br />Moved by Blesener and seconded by Vitzthum to approve the April 30, 2024, meeting <br />minutes. Motion carried 8-0. <br /> <br />4.1 Heritage Millwork (HMI) Project and Incentive Applications <br /> <br />Mr. O’Neil presented the staff report. <br /> <br />Chair Tveite asked if there is a proposed interest rate set on the loan. <br /> <br />Brent advised that the program policy states a 3% interest rate. <br /> <br />Hardin asked if adequate funds are available. <br /> <br />Brent advised that there are funds available between multiple funds that have different requirements. <br /> <br />Moved by Blesener and seconded by Gromberg to approve the recommendation of <br />approving Heritage Millwork’s microloan application to the EDA. Motion carried 7-0. Chad <br />Vitzthum abstained. <br /> <br /> <br /> <br /> <br /> <br /> <br />