02-14-1994 EDA MIN - Laserfiche WebLink

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MEETING OF THE ELK RIVER ECONOMIC DEVELOPMENT AUTHORITY HELD AT THE ELK RIVER CITY HALL MONDAY, FEBRUARY 14, 1994 Members Present: President Gongol!, Commissioners Duitsman, Dietz, Dwyer, Farber, and Holmgren Members Absent: Commissioner Scheel Staff Present: Bill Rubin, Economic Development Coordinator; Pat Klaers, Executive Director; Lori Johnson, Finance Director; Debbie Kleckner, Recording Secretary 1. Call Meetinq To Order Pursuant to due call and notice thereof, the meeting of the Elk River Economic Development Authority was called to order at 7:02 p.m. by President Gongoll. 2. Consider 2114/94 EDA Aqenda COMMISSIONER HOLMGREN MOVED TO APPROVE THE 2/14/94 EDA AGENDA. COMMISSIONER DWYER SECONDED THE MOTION. THE MOTION CARRIED 6-0. 3. Consider 1110/94 AND 1/18/94 EDA Minutes COMMISSIONER FARBER MOVED TO APPROVE THE 1/10/94 AND 1/18/94 EDA MINUTES. COMMISSIONER DWYER SECONDED THE MOTION. THE MOTION CARRIED 6-0. 4. Open Mike No one appeared for this item. 5. Financial Update Bill Rubin explained that the EDA Micro Loan Fund had a cash balance of $107,206.30 on January 31, 1994, excluding 1993 interest income. He stated the loan to Woodsmen Quality Products in the amount of $18,750.00 closed in January. Bill Rubin added that a loan to James and Marlene LaRose for $25,000 was approved, with funds to be disbursed at a later date. As of February 9, 1994, all loans are current except for PureSteam. 6. Consider A Request To Undertake A Financial Feasibilitv Study Reqardinq The Proposed Construction Of A Second Ice Arena President Gongoll stated that the last formal meeting on this issue was a joint meeting of the Elk River City Council and the Elk River School Board. At that