10-12-1992 EDA MIN - Laserfiche WebLink

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~ MEETING OF THE ECONOMIC DEVELOPMENT AUTHORITY HELD AT THE ELK RIVER PUBLIC LIBRARY MONDAY, OCTOBER 12, 1992 MEMBERS PRESENT: President Gongoll, Commissioners Dietz, Kropuenske, Tralle, Schuldt, Holmgren, and Commissioner Dwyer (arrived at 7:04 p.m. ) MEMBERS ABSENT: None STAFF PRESENT: Patrick Klaers, Executive Director; Bill Rubin, Economic Development Coordinator; Sandra Thackeray, City Clerk; Lori Johnson, Finance Director 1. Call Meeting to Order Pursuant to due call and notice thereof, the meeting of the Economic Development Authority was called to order at 7:00 p.m. by President Gongol!. 2. Consider 10/12/92 EDA Agenda ~ Bill Rubin requested that the following changes be made to the agenda: Delete #6 - Consider Development Agreement between the EDA and Tescom. Add #10c - Consideration of TIF Request from Timron precision Gear, Inc. COMMISSIONER TRALLE MOVED TO APPROVE THE 10/12/92 EDA AGENDA AS AMENDED. COMMISSIONER SCHULDT SECONDED THE MOTION. THE MOTION CARRIED 6-0. 3. Consider 9/14/92 EDA Minutes Commissioner Schuldt requested that Executive Director Klaers be listed under "members absent". COMMISSIONER KROPUENSKE MOVED TO APPROVE THE 9/14/92 EDA MINUTES AS CORRECTED. COMMISSIONER HOLMGREN SECONDED THE MOTION. THE MOTION CARRIED 5-0-1. Commissioner Schuldt abstained due to his absence. Commissioner Dwyer arrived at this time, 7:04 p.m. 5. Financial Update Bill Rubin informed the EDA that the Revolving Loan Fund has a cash balance of $231,730.99 as of September 30, 1992. Bill Rubin also informed the Commissioners that the EDA is requested to make payment for expenses in the amount of $7,184.54. He stated that after deducting this payment, the EDA will have a cash balance of $50,912.89. ~ COMMISSIONER TRALLE MOVED TO APPROVE THE STATEMENT OF EXPENSES PAYABLE IN THE AMOUNT OF $7,184.54. COMMISSIONER HOLMGREN SECONDED THE MOTION. THE MOTION CARRIED 7-0.