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<br />MEETING OF THE ELK RIVER ECONOMIC DEVELOPMENT AUTHORITY <br />HELD AT THE ELK RIVER CITY HALL <br />MONDAY, JULY 11, 1994 <br /> <br />Members Present: <br /> <br />Vice-President Dwyer, Commissioners Dietz, Duitsman, Farber, <br />and Holmgren <br /> <br />Members Absent: <br /> <br />President Gongoll, Commissioner Scheel <br /> <br />Staff Present: <br /> <br />Bill Rubin; EDA Executive Director, Phil Hals; Street/Park <br />Superintendent <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 7:03 p.m. by Vice-President <br />Dwyer. <br /> <br />2. Consider July 11. 1994 Aqenda <br /> <br />Item 11.1. - Conflict of Interest Issue, was added to the July 11, 1994, Economic <br />Development Authority Agenda. <br /> <br />COMMISSIONER HOLMGREN MOVED TO APPROVE THE JULY 11, 1994 EDA AGENDA <br />AS AMENDED. COMMISSIONER DUITSMAN SECONDED THE MOTION. THE MOTION <br />CARRIED 5-0. <br /> <br />3. Consider June 13, 1994 EDA Minutes <br /> <br />COMMISSIONER HOLMGREN MOVED TO APPROVE THE JUNE 13, 1994 EDA <br />MINUTES. COMMISSIONER DUITSMAN SECONDED THE MOTION. THE MOTION <br />CARRIED 4-0-1. COMMISSIONER FARBER ABSTAINED. <br /> <br />4. Open Mike <br /> <br />No one appeared for this item. <br /> <br />5. Rnancial Update <br /> <br />Bill Rubin reviewed the financial updated prepared by Lori Johnson: <br /> <br />- <br />Micro-Loan Fund - The Micro Loan Fund had a cash balance of $132,328.66 on <br />June 30, 1994. Bill noted that as of this date, July 11, all July payments are current <br />with the exception of Indy Lube. <br /> <br />Block Grant Micro Loan Fund - This Fund had a cash balance of $5,463.21 on <br />June 30, 1994. Tescom is current on its loan payment. <br />