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04-26-1993 EDA MIN
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04-26-1993 EDA MIN
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4/26/1993
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<br />. <br /> <br />. <br /> <br />. <br /> <br />SPECIAL MEETING OF THE ELK RIVER ECONOMIC DEVELOPMENT AUTHORITY <br />HELD AT THE ELK RIVER CITY HALL <br />MONDAY, APRIL 26, 1993 <br /> <br />Members Present: <br /> <br />President Gongoll, Commissioners Farber, Dietz, Scheel, <br />Duitsman, Dwyer, and Holmgren <br /> <br />Members Absent: <br /> <br />None <br /> <br />Also Present: <br /> <br />Pat Klaers, Executive Director; Bill Rubin, Economic <br />Development Coordinator; Peter Beck, City Attorney; <br />Sandra Thackeray, City Clerk <br /> <br />1. Call Meeting To Order <br /> <br />Pursuant to due call and notice thereof, the meeting of the Economic <br />Development Authority was called to order at 5:45 p.m. by President <br />Gongoll. <br /> <br />2. Consider 4/26/93 EDA Agenda <br /> <br />COMMISSIONER DWYER MOVED TO APPROVE <br />COMMISSIONER DUITSMAN SECONDED THE MOTION. <br /> <br />THE 4/26/93 EDA AGENDA. <br />THE MOTION CARRIED 7-0. <br /> <br />3. Consider and Approve a Contract for Private Development By and Between <br />the Elk River EDA and Tescom Corporation, Inc., TIF No.9 <br /> <br />Bill Rubin informed the EDA that it is in a position to approve the <br />Development Agreement between the Elk River EDA and Tescom <br />Corporation. Bill Rubin indicated that the Contract for Private <br />Development had several changes. He reviewed these changes with the <br />EDA. <br /> <br />Commissioner Duitsman suggested that the words "per year" be added at <br />the end of the paragraph under Item 3.5. of Page 7, so that it is clear <br />that the reimbursement for City services is required on a yearly <br />basis. Discussion was also held regarding the site preparation cost of <br />$53,000. <br /> <br />Commissioner Duitsman indicated that he will be reviewing the Revolving <br />Loan Fund request more closely in the future. Bill Rubin stated that <br />without the assistance of the $50,000 from the Revolving Loan Fund, the <br />$250,000 DTED Grant would not have been received. <br /> <br />Discussion was held regarding the sum of $14,500 per year which the <br />City would receive as reimbursement for City services. Commissioner <br />Duitsman stated his concern that this may not be enough to protect the <br />City if the loss of state aid is greater than $14,500. Peter Beck, <br />City Attorney, stated that the City will charge the actual loss to <br />Tescom. <br />
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