03-09-1992 EDA MIN - Laserfiche WebLink

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. . . MEETING OF THE ECONOMIC DEVELOPMENT AUTHORITY HELD AT THE ELK RIVER CITY HALL MONDAY, MARCH 9, 1992 MEMBERS PRESENT: President Gongoll, Commissioners Dietz, Dwyer, Schuldt, Kropuenske, Holmgren (arrived at 7:20 p.m.), and Tralle (arrived at 7:50 p.m.) MEMBERS ABSENT: None STAFF PRESENT: Patrick Klaers, City Administrator; William Rubin, Economic Development; and Sandra Thackeray, City Clerk 1. Call Meeting to Order Pursuant to due call and notice thereof, the meeting of the Elk River Economic Development Authority was called to order at 7:00 p.m. by Chairman Gongoll. 2. Consider 3/9/92 EDA Agenda COMMISSIONER SCHULDT MOVED TO APPROVE COMMISSIONER KROPUENSKE SECONDED THE MOTION. THE 3/9/92 EDA AGENDA. THE MOTION CARRIED 5-0. 3. Consider 2/10/92 and 3/2/92 EDA MINUTES COMMISSIONER DWYER MOVED TO APPROVE THE 2/10/92 EDA MINUTES AND THE 3/2/92 SPECIAL EDA MINUTES. COMMISSIONER DIETZ SECONDED THE MOTION. THE MOTION CARRIED 5-0. 4. Open Mike No one appeared for this item. 5. Financial Update Bill Rubin indicated that the Revolving Loan Fund has a February, 1992 cash balance of $195,669.93. He further noted that the Economic Development Authority has a cash balance of $41,089.88. 6. Consider Proposed Amendment to TIF Plans No. 1 and No.3 Bill Rubin reviewed the proposed modifications to TIF Plans No. 1 and No.3. The modifications include expenditures to assist with redevelopment at Evans Avenue and East Main Street and expenditures for the acquisition of an additional land parcel located between the Elk River Country Club and Woodland Trails Park. Bill Rubin noted that the EDA had previously recommended to the City Council that TIF Plans No. 1 and No. 3 be modified. He noted, however, that at the time of this recommendation, the amendment relating to the acquisition of additional land was not included. He further noted that