08-10-1992 EDA MIN - Laserfiche WebLink

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. . . MEETING OF THE ELK RIVER ECONOMIC DEVELOPMENT AUTHORITY HELD AT THE ELK RIVER CITY HALL MONDAY, AUGUST 10, 1992 Members Present: President Gongoll, Commissioners Kropuenske, Schuldt, Dietz, Tralle, Holmgren and Dwyer Members Absent: None staff Present: Pat Klaers, Executive Director; Bill Rubin, Economic Development Coordinator; Sandy 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 at 7:00 p.m. by President Gongoll. 2. Consider 8/10/92 EDA Agenda President Gongoll added Item 11.1, "Retail Development Video", to the agenda. COMMISSIONER TRALLE MOVED TO AMENDED. COMMISSIONER HOLMGREN CARRIED 7-0. THE 8/10/92 EDA THE MOTION. APPROVE SECONDED AGENDA AS THE MOTION 3. Consider 7/13/92 EDA Minutes COMMISSIONER TRALLE MOVED TO APPROVE COMMISSIONER KROPUENSKE SECONDED THE MOTION. THE 7/13/92 EDA MINUTES. THE MOTION CARRIED 7-0. 4. Open Mike No one appeared for this item. 5. Financial Update Bill Rubin stated that the Revolving Loan Fund has a cash balance of $218,296.29 as of July 31, 1992, with all loan payments being current. In addition, the EDA cash balance was $57,750.33 as of July 31, 1992. 6. Public Hearing to Consider the Sale of Lot 8, Block 1, Elk River Industrial Park to Tescom Corporation Bill Rubin indicated sale of Lot 8 to Tescom and conditions by Corporation. The terms that a public hearing must be held prior to the Corporation. Bill Rubin reviewed the terms which Lot 8 would be conveyed to Tescom and conditions are as follows: Acquisition Price of $60,000 completely written down using TIF funds.