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<br />e <br /> <br />e <br /> <br />e <br /> <br />MEETING OF THE ELK RIVER ECONOMIC DEVELOPMENT AUTHORITY <br />HELD AT THE ELK RIVER CITY HALL <br />MONDAY, NOVEMBER 5, 1990 <br /> <br />MEMBERS PRESENT: <br /> <br />Chairman Tralle, Commissioners Kropuenske, Schuldt, <br />Holmgren, Gongoll, Dwyer, and Dobel (6:40) <br /> <br />MEMBERS ABSENT: <br /> <br />None <br /> <br />STAFF PRESENT: <br /> <br />Bill Rubin, Economic Development Coordinator; Mike <br />Mulrooney, Economic Development Consultant; Lori Johnson, <br />Finance Director; and Pat Klaers, Executive Director <br /> <br />1. Call Meetin~ to Order <br /> <br />Pursuant to due call and notice thereof, the meeting of the Economic <br />Development Authority was called to order by Chairman Tralle at 6: 30 <br />p.m. <br /> <br />2. <br /> <br />Consider 11/5/90 Economic Develop~ent Authority A~enda <br /> <br />COMMISSIONER KROPUENSKE MOVED TO ADOPT THE 11/5/90 ECONOMIC DEVELOPMENT <br />AGENDA. COMMISSIONER SCHULDT SECONDED THE MOTION. THE MOTION CARRIED <br />6-0. <br /> <br />3. <br /> <br />Consider 10/8/90 EDA Minutes <br /> <br />COMMISSIONER SCHULDT MOVED TO APPROVE THE 10/8/90 EDA MINUTES. <br />COMMISSIONER GONGOLL SECONDED THE MOTION. THE MOTION CARRIED 6-0. <br /> <br />4. Open Mike <br /> <br />There was no one present for this item. <br /> <br />5. 10/29/90 EDA Finance Committee Update <br /> <br />Bill Rubin, Economic Development Coordinator, updated the EDA on the <br />most recent Finance Committee meeting on 10/29/90. The major purpose <br />for this meeting was to hear a presentation from Mr. John Swon, of Swon <br />Marketing, Inc. Mr. Swon had requested consideration of a revolving <br />loan to his company. By unanimous consensus, the Finance Committee <br />rejected the request for a revolving loan for Swon Marketing, Inc. <br />Additionally, the Finance Committee reaffirmed the existing revolving <br />loan policy especially when taking into consideration the limited <br />amount of funds that are available. It was noted that the request from <br />Mr. Swon did not meet the revolving loan policy, as the company is not <br />located within the the City, nor would it relocate to Elk River and no <br />additional jobs would be created through a revolving loan being issued. <br /> <br />It was the consensus of the EDA to accept the decision by the Finance <br />Committee and additionally concur that the existing revolving loan <br />policy is appropriate for Elk River. <br />