12-08-1997 EDA MIN - Laserfiche WebLink

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e e It MEETING OF THE ELK RIVER ECONOMIC DEVELOPMENT AUTHORITY HELD AT THE ELK RIVER CITY HALL MONDAY, DECEMBER 8, 1997 Members Present: President Dwyer. Commissioners Holmgren. Gongoll. Thompson. Bender and Duitsman Members Absent: Commissioner Farber Staff Present: Paul Steinman. Director of Economic Development; Debbie Huebner. Recording Secretary Also Present: Charles Christian 1. Call Meetina To Order Pursuant to due call and notice thereof. the meeting of the Economic Development Authority was called to order at 6:00 p.m. by President Dwyer. 2. Consider 12/8/97 Aaenda COMMISSIONER HOLMGREN MOVED TO APPROVE THE DECEMBER 8. 1997. EDA AGENDA WITH THE FOLLOWING ADDITION: - ITEM 9.2. - BUSINESS INCUBATOR UPDATE COMMISSIONER GONGOLL SECONDED THE MOTION. THE MOTION CARRIED 6-0. 3. Consider Consent Aaenda COMMISSIONER BENDER MOVED TO APPROVE THE CONSENT AGENDA AS FOLLOWS: 3.1. NOVEMBER 10. 1997. EDA MINUTES - APPROVED 3.2. EDA CHECK REGISTER - APPROVED COMMISSIONER THOMPSON SECONDED THE MOTION. THE MOTION CARRIED 6-0. 4. West Business Park Issues, Elk River Industrial Park Lot Paul Steinman indicated approximately $195,000 is available from Tax Increment District #5. The Commissioners discussed options presented by staff for expenditure of the funds in the West Business Park, and/or repayment to the EDA for purchase of the Elk River Industrial Park lot. Paul explained that if $65,000 of the excess TIF funds are used to repay the EDA for the purchase of the Industrial Park lot. state law would not allow establishing a new tax increment district for a project on this site. An alternative would be to establish a new TIF district for the Industrial Park lot when a project moves forward.