02-10-1992 EDA MIN - Laserfiche WebLink

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. . . MEETING OF THE ELK RIVER ECONOMIC DEVELOPMENT AUTHORITY HELD AT THE ELK RIVER CITY HALL MONDAY, FEBRUARY 10, 1992 Members Present: President Gongoll, Commissioners Tralle, Holmgren, Dietz and Dwyer. Commissioner Schuldt arrived 7:20 p.m. Members Absent: Commissioner Kropuenske Staff Present: Pat Klaers, Executive Director; Bill Rubin, Economic Development Coordinator; Sandra Thackeray, City Clerk 1. Call Meeting To Order Pursuant to due call and notice thereof, the meeting of the Elk River Economic Development Authority was called to order by President Gongoll at 7:05 p.m. 2. Consider 2/10/92 EDA Agenda COMMISSIONER DIETZ MOVED TO APPROVE COMMISSIONER HOLMGREN SECONDED THE MOTION. THE 2/10/92 EDA AGENDA. THE MOTION CARRIED 5-0. 3. Consider 1/13/92 EDA Minutes COMMISSIONER TRALLE MOVED TO APPROVE THE 1/13/92 EDA MINUTES. COMMISSIONER DWYER SECONDED THE MOTION. THE MOTION CARRIED 5-0. 4. Open Mike No one appeared for this item. 5. Financial Update Bill Rubin, Economic Development Coordinator, informed the EDA that there is a balance of $188,864.62 in the Revolving Loan Fund. He reviewed the Statement of Expenses Payable to the City of Elk River for the period ending December 31, 1991. He stated that the EDA has incurred expenses of $2,936.45 for professional services, advertising and revision of the brochure inserts that is payable to the City of Elk River. COMMISSIONER DWYER MOVED TO APPROVE PAYMENT OF $2,936.45 TO THE CITY OF ELK RIVER FOR EXPENSES INCURRED THROUGH DECEMBER 31, 1991. COMMISSIONER HOLMGREN SECONDED THE MOTION. THE MOTION CARRIED 5-0. 6. Consider a Request from Chuba Company for TIF Financing Bill Rubin informed the EDA that the Chuba Company has requested assistance in the form of Tax Increment Financing for a redevelopment project at Evans Avenue and east Main Street. The request is in the amount of $20,000 to assist with the demolition of an existing single family home and site preparation cost.