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<br />. <br /> <br />. <br /> <br />. <br /> <br />MEETING OF THE ECONOMIC DEVELOPMENT AUTHORITY <br />HELD AT THE ELK RIVER PUBLIC LIBRARY <br />MONDAY, DECEMBER 18, 1989 <br /> <br />MEMBERS PRESENT: <br /> <br />Chairman Tralle, Commissioners Holmgren, Schuldt, Dobel, <br />and Kropuenske <br /> <br />MEMBERS ABSENT: <br /> <br />None <br /> <br />STAFF PRESENT: <br /> <br />Mike Mulrooney, Economic Development Consultant; Dick <br />Fursman, Economic Development Coordinator; Pat Klaers, <br />City Administrator; Lori Johnson, Finance Director; and <br />Tim Keane, City Attorney <br /> <br />1. Pursuant to due call and notice thereof, the meeting of the Economic <br />Development Authority was called to order by Chairman Tralle at 9:35 <br />p.m. <br /> <br />2. Consider 12/18/89 EDA A~enda <br /> <br />COMMISSIONER SCHULDT MOVED TO APPROVE THE 12/18/89 AGENDA. <br />COMMISSIONER DOBEL SECONDED THE MOTION. THE MOTION CARRIED 5-0. <br /> <br />3. <br /> <br />Consider 12/4/89 EDA Minutes <br /> <br />COMMISSIONER DOBEL MOVED TO APPROVE THE 12/4/89 EDA MINUTES. <br />COMMISSIONER KROPUENSKE SECONDED THE MOTION. THE MOTION CARRIED 5-0. <br /> <br />4. Motel TIF District <br /> <br />Richard Fursman, Economic Development Coordinator, indicated that the <br />Minnesota State Omni Board unanimously approved the financing for the <br />proposed motel at the intersection of Highway 10 and 169. He further <br />indicated that the SBA is the final link in the financial packaging <br />and that the developers expect to hear from the SBA within a week or <br />two, at which time they will submit their request for Tax Increment <br />Financing assistance to develop the site and write down the cost of <br />acquiring the land. Mr. Fursman indicated that when the SBA does <br />give their approval, the developer, Rob VanValkenburg, will give the <br />City $5,000 for the processing of the TIF plan. <br /> <br />COMMISSIONER DOBEL MOVED THAT THE EDA AFFIRMS ITS POSITION IN THE <br />SUPPORT OF THE MOTEL PROJECT AND ALSO IN ITS SUPPORT OF THE POSSIBLE <br />USE OF TIF FUNDS IN ORDER TO DEVELOP THE SITE AND WRITE DOWN THE COST <br />OF ACQUIRING THE LAND. COMMISSIONER SCHULDT SECONDED THE MOTION. <br /> <br />Tim Keane, City Attorney, stated that the test for meeting the <br />condi tions for a redevelopment district are more strict than before <br />since the October Special Legislative Session. <br />