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<br />MEETING OF THE ELK RIVER ECONOMIC DEVELOPMENT AUTHORITY <br />HELD AT THE ELK RIVER CITY HALL <br />MONDAY, APRIL 11, 1994 <br /> <br />Members Present: <br /> <br />President Gongoll, Commissioners Duitsman, Dietz, Dwyer, Farber <br />and Holmgren <br /> <br />Members Absent: <br /> <br />Commissioner Scheel <br /> <br />Staff Present: <br /> <br />Bill Rubin, EDA Executive Director; Lori Johnson, Finance Director; <br />Pat Klaers, City Administrator; Phil Hals, Street/Park <br />Superintendent <br /> <br />Also Present: <br /> <br />Jim Simpson, Utilities Commission President; Jim Tralle and George <br />Zabee, Utilities Trustees; Bill Birrenkott, Utilities General Manger <br /> <br />1. Call Meetinq To Order <br /> <br />Pursuant to due call and notice thereof, the meeting of the Elk River Economic <br />Development Authority was called to order at 7:15 p.m. by President Gongoll. <br /> <br />2. Consider April 1" 1994 Aoenda <br /> <br />COMMISSIONER HOLMGREN MOVED TO APPROVE THE 4/11/94 EDA AGENDA. <br />COMMISSIONER DWYER SECONDED THE MOTION. THE MOTION CARRIED 6-0. <br /> <br />3. Consider 3/14/94 EDA Minutes <br /> <br />COMMISSIONER DWYER MOVED TO APPROVE THE 3/14/94 EDA MINUTES. <br />COMMISSIONER HOLMGREN SECONDED THE MOTION. THE MOTION CARRIED 6-0. <br /> <br />4. Open Mike <br /> <br />No one appeared for this item. <br /> <br />5. Financial Update <br /> <br />Lori Johnson presented the following summary of the Micro-Loan program: <br /> <br />On March 28, 1994, the EDA closed its loan with LaRose Enterprises in the amount <br />of $25,000 for a restaurant project. On March 18th, PureSteam Humidifier paid <br />its balance of $13,543.26 in full. After these transactions, the March 31, 1994 <br />Micro-Loan cash balance was $119,590.91. The $15,000 Water Laboratories loan <br />has not yet closed. As of Friday, April 8, 1994, all April loan payments are current <br />with the exception of Alltool. <br />