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<br />MEETING OF THE ECONOMIC DEVELOPMENT AUTHORITY <br />HELD AT THE ELK RIVER CITY HALL <br />MONDAY, MAY 8, 1995 <br /> <br />Members Present: <br /> <br />President GongolL Comrnissioners Holmgren, Scheel, Bender, <br />Duitsman, Farber, Dwyer <br /> <br />Members Absent: <br /> <br />None <br /> <br />Staff Present: <br /> <br />Bill Rubin, Executive Director; Pat Klaers, City Administrator; Sandra <br />Thackeray, City Clerk <br /> <br />1. Call Meetinq To Order <br /> <br />Pursuant to due call and notice thereof, the meeting of the Economic <br />Development Authority was called to order at 6:00 p.m. by President Gongoll. <br /> <br />2. Consider May 8, 1995, EDA Aqenda <br /> <br />The following item was added to the agenda: <br /> <br />lOA. Discussion regarding the next EDA quarterly workshop. <br /> <br />COMMISSIONER BENDER MOVED TO APPROVE THE MAY 8, 1995, EDA AGENDA AS <br />AMENDED. COMMISSIONER HOLMGREN SECONDED THE MOTION. MOTION <br />CARRIED 6-0. <br /> <br />3. Consider April 10, 1995, EDA Mnutes <br /> <br />(Commissioner Dwyer arrived at this time, 6:03). <br /> <br />COMMISSIONER HOLMGREN MOVED TO APPROVE THE APRIL 10, 1995, EDA <br />MINUTES. COMMISSIONER FARBER SECONDED THE MOTION. MOTION CARRIED 7- <br />O. <br /> <br />4. Open Mke <br /> <br />No one appeared for this item. <br /> <br />5. Consider May EDA Financial Update And Check Reqister <br /> <br />Executive Director Bill Rubin reviewed the following loan funds: <br /> <br />Mcro-Ioan Fund <br />The micro-loan fund had a cash balance of $124,212.62 as of April 30, 1995 <br /> <br />DTED Micro-loan Fund <br />The DTED micro-loan fund had a cash balance of $31,928.11 as of April 30, 1995. <br />