Laserfiche WebLink
<br />. <br /> <br />. <br /> <br />. <br /> <br />MEETING OF THE ELK RIVER ECONOMIC DEVELOPMENT AUTHORITY <br />HELD AT THE ELK RIVER CITY HALL <br />MONDAY, MAY 11, 1992 <br /> <br />MEMBERS PRESENT: <br /> <br />President Gongoll, Commissioners Dwyer, Tralle, <br />Holmgren, Schuldt, Dietz, and Kropuenske <br /> <br />MEMBERS ABSENT: <br /> <br />None <br /> <br />STAFF PRESENT: <br /> <br />Pat Klaers, City Administrator; Bill Rubin, Economic <br />Development Coordinator; and Sandra Thackeray, City Clerk <br /> <br />1. Call Meeting to Order <br /> <br />Pursuant to due call and notice thereof, the meeting of the Elk River <br />Economic Development Authority was called to order at 7:00 p.m. by <br />President Gongoll. <br /> <br />2. consider 5/11/92 Economic Development Authority Agenda <br /> <br />COMMISSIONER TRALLE MOVED TO APPROVE THE 5/11/92 ECONOMIC DEVELOPMENT <br />AUTHORITY AGENDA. COMMISSIONER HOLMGREN SECONDED THE MOTION. THE <br />MOTION CARRIED 7-0. <br /> <br />3. <br /> <br />Consider 4/13/92 Economic Development Authority Minutes <br /> <br />President Gongoll requested that the following be added to the last <br />sentence of the second paragraph under Item #7: "and any extension <br />would be negotiated between the parties." <br /> <br />COMMISSIONER KROPUENSKE MOVED TO APPROVE THE <br />CORRECTED. COMMISSIONER TRALLE SECONDED <br />CARRIED 7-0. <br /> <br />4/13/92 EDA <br />THE MOTION. <br /> <br />MINUTES AS <br />THE MOTION <br /> <br />4 . Open Mike <br /> <br />No one appeared for this item. <br /> <br />5. Financial Update <br /> <br />Bill Rubin updated the EDA on the <br />Loan Fund. He indicated that <br />Revolving Loan Fund is $184,848.84 <br />Bill Rubin also informed the EDA <br />$20,468.29. <br /> <br />financial status of the Revolving <br />the April, 1992, cash balance of the <br />and that all loans are current. <br />that it has a current cash balance of <br /> <br />6. <br /> <br />Consider Allotment Agreement and Program Application <br />Agreement with Minnesota Housing Finance Agency <br /> <br />Commitment <br /> <br />Bill Rubin informed the EDA that the City has been awarded $1,132,684 <br />in mortgage money from the Minnesota Housing and Finance Agency. Bill <br />explained that the program is for first time home buyers and that home <br />