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<br />e <br /> <br />SPECIAL MEETING OF THE ELK RIVER <br />ECONOMIC DEVELOPMENT AUTHORITY <br />HELD AT THE ELK RIVER CITY HALL <br />MONDAY, MARCH 4, 1996 <br /> <br />Members Present: <br /> <br />President Gongoll, Commissioners Dwyer, Holmgren, Bender, <br />Farber, and Duitsman <br /> <br />Members Absent: <br /> <br />Commissioners Dietz and Scheel <br /> <br />Staff Present: <br /> <br />Pat Klaers, City Administrator; Sandra Thackeray, City Clerk <br /> <br />Also Present: <br /> <br />County Administrator Dave Loch; Chamber Representatives <br />Jackie Schuelein, Kermit Bode, Rich Duggan and Dennis Chuba; <br />HRA Commissioners Gene Schuldt, Dick Hinkle, Stewart Wilson, <br />and Duane Kropuenske; Utilities Commissioners Jim Tralle and <br />George Zabee; County Economic Development Coordinator <br />Michael Darger; Bank Representatives Jim Simpson and Dick <br />Gongoll <br /> <br />1. <br /> <br />Call Meetina To Order <br /> <br />e <br /> <br />Pursuant to due call and notice thereof, the special meeting of the Elk River <br />Economic Development Authority was called to order at 5:00 p.m. by President <br />Gongoll. <br /> <br />President Gongoll indicated that those present represent the City Council, EDA, <br />HRA, Chamber of Commerce, Elk River Utilities Commission and the business <br />community. President Gongoll indicated that the purpose of the meeting was to <br />hear a presentation from Roger Jenson and Harlan Jacobs regarding the Anoka <br />County Business Incubator model. President Gongoll introduced Roger Jenson, <br />Executive Director of the Anoka County Capital Fund and Harlan Jacobs, <br />President of Genesis business Centers, Ltd. <br /> <br />Roger Jenson and Harlan Jacobs gave presentations on the Anoka County <br />Business Incubator. They explained that a business incubator provides low-cost <br />space for newly-formed or emerging companies. These companies obtain <br />discounted office and production space and sometimes they are able to obtain <br />clerical services, business management counseling services, and tooling and <br />machining space in the same facility. They further explained that companies are <br />expected to leave the incubator and relocate into space that is more market <br />rate after completing their R & D phase. <br /> <br />e <br /> <br />Roger Jenson discussed the need for an equity capital fund that is capitalized by <br />public funds. He explained that the main capital for the Anoka business <br />incubator has come from eight local banks and two utility companies. Harlan <br />Jacobs indicated that he is searching for progressive communities in which to <br />start a business incubator. He indicated that he considers Elk River to be a <br />progressive community and would be an ideal location for this type of venture. <br />