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<br />MEETING OF THE ELK RIVER ECONOMIC DEVELOPMENT AUTHORITY <br />HELD AT THE ELK RIVER CITY HALL <br />August 8, 1995 <br /> <br />Members Present: <br /> <br />President Gongoll, Commissioners Bender, Dwyer, Scheel, <br />Duitsman, Holmgren, Farber <br /> <br />Members Absent: <br /> <br />None <br /> <br />Staff Present: <br /> <br />Bill Rubin, Executive Director; Pat Klaers, City Administrator; <br />Michelle Dwyer, Recording Secretary <br /> <br />1. Call Meetinq To Order <br /> <br />Pursuant to due call and notice thereof, the special meeting of the Elk River <br />Economic Development Authority was called to order at 5:01 by President <br />Gongoll. <br /> <br />3. Consider EDA Consent Aaenda <br /> <br />COMMISSIONER DWYER MOVED TO APPROVE THE CONSENT AGENDA AS <br />FOLLOWS: <br /> <br />4.1 JULY 10, 1995 EDAMINUTES <br />4.2 JULY 31, 1995 EDA MINUTES <br />7.0 EDA CHECK REGISTER <br /> <br />COMMISSIONER DUITSMAN SECONDED THE MOTION. MOTION CARRIED 7-0. <br /> <br />5. Open Mike <br /> <br />No one appeared for this item. <br /> <br />6. Consider Auaust EDA Financial Statement <br /> <br />Assistant City Administrator, Lori Johnson will send out an update at a later date. <br />No action was taken. <br /> <br />9. Consider Options for "Qualifying Local Contribution" (Mowrv/Neos, Inc. TIF <br />Request) <br /> <br />Discussion occurred regarding the ongoing funding of this annuaJ contribution <br />to the Neos TIF District. A suggested option was to retain the lion's share of the <br />proceeds from the cash sale of an industrial site to District 728. <br /> <br />Another alternative was to include the qualifying local contribution as part of a <br />respective year's budget. No decision was made at the July meeting as it was <br />unclear whether or not a budgeted item could meet the State's test of those <br />funds then being "unrestricted". City Attorney Peter Beck, advised the EDA <br />Executive Director that an annual budgeted expenditure equal to a Tlf Project's <br />qualifying local contribution could be considered unrestricted funds. The <br />