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<br />. <br /> <br />e <br /> <br />e <br /> <br />~. . <I .: <br /> <br />. ',.. '" <br />I ,'.';. <br /> <br />MINUTES OF THE ECONOMIC DEVELOPMENT AUTHORITY <br />HELD AT THE ELK RIVER CITY HALL <br />MONDAY, FEBRUARY 11, 1991 <br /> <br />MEMBERS PRESENT: <br /> <br />Chairman Gongoll, Commissioners Tralle, Schuldt, <br />Holmgren and Dietz <br /> <br />MEMBERS ABSENT: <br /> <br />Commissioner Kropuenske (out of town on vacation), <br />and Commissioner Dwyer (Father's funeral) <br /> <br />STAFF PRESENT: <br /> <br />Pat Klaers, City Administrator; Bill Rubin, Economic <br />Development Coordinator; Mike Mulrooney, Economic <br />Development Consultant; Lori Johnson, Finance Director; <br />Tim Keane, City Attorney; Sandra Thackeray, City Clerk <br /> <br />1. <br /> <br />Call meetin~ to order <br /> <br />Pursuant to due call and notice thereof, the meeting of the Economic <br />Development Authority was called to order at 7:00 p.m. by Chairman <br />Gongoll. <br /> <br />2. <br /> <br />Consider 2/11/91 EDA a~enda <br /> <br />The following items were added to the agenda by Chairman Gongoll: <br /> <br />Item 11.3 - Industrial Council and 11.4 - Creamery Site <br /> <br />COMMISSIONER TRALLE MOVED TO APPROVE THE 2/11/91 EDA AGENDA AS <br />AMENDED. COMMISSIONER HOLMGREN SECONDED THE MOTION. THE MOTION <br />CARRIED 5-0. <br /> <br />3. Consider 1/14/91 EDA minutes <br /> <br />COMMISSIONER TRALLE MOVED TO APPROVE THE 1/14/91 EDA MINUTES. <br />COMMISSIONER DIETZ SECONDED THE MOTION. THE MOTION CARRIED 5-0. <br /> <br />4. Open Mike <br /> <br />No one appeared for this item. <br /> <br />5. <br /> <br />Financial update <br /> <br />Finance Director Lori Johnson reviewed the revolving loan fund cash <br />flow statement with the EDA. The revolving loan fund has an <br />approximate balance of $120,000 and all loan payments are current <br />except for Roma Tool and Plastics. <br /> <br />6. <br /> <br />Update on EDA offer to purchase Jenne site <br /> <br />Bill Rubin indicated that on February 6, 1991, Irma Jenne signed a <br />letter of acknowledgement regarding the City's intent to purchase her <br />