09-14-1992 EDA MIN - Laserfiche WebLink

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. . . MEETING OF THE ELK RIVER ECONOMIC DEVELOPMENT AUTHORITY HELD AT THE ELK RIVER CITY HALL MONDAY, SEPTEMBER 14, 1992 Members Present: President Gongoll, Commissioners Dietz, Tralle, Holmgren, Dwyer and Kropuenske (7:10 p.m.) Members Absent: Commissioner Schuldt; Patrick Klaers, Executive Director staff Present: Bill Rubin, Economic Development Coordinator; Lori JOhnson, Finance Director 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 9/14/92 EDA Agenda Bill Rubin requested that two items be added to the agenda, Item lOa., "Elk River Area Chamber of Commerce Budget Request" and Item lOb., "Northern Natural Gas Transmission Easement." THE AGENDA AS AMENDED. THE MOTION CARRIED 5-0. COMMISSIONER DIETZ MOVED TO APPROVE COMMISSIONER DWYER SECONDED THE MOTION. 3. Consider 8/10/92 EDA Minutes COMMISSIONER TRALLE MOVED TO APPROVE THE 8/10/92 EDA MINUTES. COMMISSIONER DIETZ SECONDED THB MOTION. THE MOTION CARRIED 5-0. 4 . Open Mike No one appeared for this item. 5. Financial Update Bill Rubin indicated that the Revolving Loan Fund has a cash balance of $224,630.19 as of A~gust 31, 1992. Lori Johnson indicated that Alltool had made its september payment so all loans are current as of the present time. 6. Consider Loan Request from Second Generation Properties, Inc. Bill Rubin indicated that Second Generation Properties, Inc., is requesting a $50,000 loan from the Revolving Loan Fund to assist in the construction of a 7,000 square foot auto parts store to be located in the Crossroads Subdivision. Mr. Rubin further indicated that the Finance Committee had met and is recommending approval of the loan at the terms outlined in his September 11, 1992, memo. .