06-10-1991 EDA MIN - Laserfiche WebLink

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e e e ',. .. " MEETING OF THE ELK RIVER ECONOMIC DEVELOPMENT AUTHORITY HELD AT ELK RIVER CITY HALL MONDAY, JUNE 10, 1991 MEMBERS PRESENT: President Gongoll, Commissioners Tralle, Schuldt, Dietz, Kropuenske, and Dwyer MEMBERS ABSENT: Commissioner Holmgren STAFF PRESENT: William Rubin, Economic Development Coordinator; Patrick Klaers, City Administrator; Sandy Thackeray, City Clerk 1. Call Meetin~ to Order Pursuant to due call and notice thereof, the meeting of the Elk River Economic Development Authority was called to order at 7:00 p.m. by President Gongoll. 2. Consider 6/10/91 A~enda .. President Gongoll indicated that "Open Mike" would be moved to item 6.5. PRESIDENT GONGOLL MOVED TO APPROVE THE AGENDA AS AMENDED. COMMISSIONER DIETZ SECONDED THE MOTION. THE MOTION CARRIED 6-0. 3. Consider 5/13/91 Minutes COMMISSIONER DIETZ MOVED TO APPROVE THE 5/13/91 EDA MINUTES. COMMISSIONER DWYER SECONDED THE MOTION. THE MOTION CARRIED 6-0. 5. Financial Update Bill Rubin reviewed the monthly statement of the Revolving Loan Fund prepared by the Finance Director. He indicated that the balance of the Revolving Loan Fund is $142,297.21. 6. Elk Terrace Apartment Project Mr. Bradley Larson of Metcalf and Larson Attorney's at Law, Monticello, Minnesota, indicated he is working on a project financed by the Farmers Home Administration. Mr. Larson indicated that the project consists of independent living senior housing which is proposed to be located along Holt Avenue and Fourth Street. He further stated that the EDA Commissioners have discussed this senior housing project at a previous EDA meeting. Mr. Larson stated that there is definitely a need for this type of housing in Elk River. Mr. Larson further indicated that this particular project requires that the community be a rural community and have a population of less than 10,000. He stated that he applied for the project through MFHA prior to the release of the 1990 census figures.