12-14-1992 EDA MIN - Laserfiche WebLink

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. . . MEETING OF THE ELK RIVER ECONOMIC DEVELOPMENT CORPORATION HELD AT ELK RIVER PUBLIC LIBRARY MONDAY, DECEMBER 14, 1992 MEMBERS PRESENT: President Gongoll, Commissioners Dietz, Tralle, Schuldt, Holmgren, and Dwyer MEMBERS ABSENT: Commissioner Kropuenske STAFF PRESENT: Patrick Klaers, Executive Director; Bill Rubin, Economic Development Coordinator; and Sandra Thackeray, City Clerk 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 Gongoll. 2. Consider 12/14/92 City Council Agenda Item 11.1 - Status of Courthouse was added to the agenda. COMMISSIONER TRALLE MOVED TO APPROVE COMMISSIONER SCHULDT SECONDED THE MOTION. THE AGENDA AS AMENDED. THE MOTION CARRIED 6-0. 3.1. Consider 11/9/92 EDA Minutes COMMISSIONER TRALLE MOVED TO APPROVE THE 11/9/92 EDA MINUTES. COMMISSIONER DWYER SECONDED THE MOTION. THE MOTION CARRIED 5-0-1. Commissioner Holmgren abstained due to his absence at that meeting. 3.2. Consider 11/23/92 EDA Minutes COMMISSIONER SCHULDT MOVED TO APPROVE COMMISSIONER HOLMGREN SECONDED THE MOTION. THE 11/23/92 EDA MINUTES. THE MOTION CARRIED 6-0. 4. Open Mike No one appeared for this item. 5. Financial Update Bill Rubin, Economic Development Coordinator, informed the EDA that the Revolving Loan Fund has a cash balance of approximately $192,105.35 as of November 30, 1992. This amount excluded interest income for November. He stated that the EDA incurred expenses of $6,101.68 during the fourth quarter and requested the EDA to approve these expenses. Bill Rubin indicated that in addition to the $6,101.68 in expenses, there was an extra expense of $13,400 of which $5,000 was charged to the City for administrative costs and $8,400 was charged for a portion of the Economic Development Coordinator's salary and benefits.