11-08-2010 EDA MINMEETING OF THE ELK RIVER
ECONOMIC DEVELOPMENT AUTHORITY
HELD AT THE ELK RIVER CITY HALL
MONDAY, NOVEMBER 8, 2010
Members Present: President Touchette, Corrunissioners Dwyer, Motin, Tveite, Westgaard, and
Zerwas
Members Absent: Commssioner Klinzing
Staff Present: City Administrator Lori Johnson, Director of Economic Development
Catherine Mehelich, and Executive Secretary/Deputy Ciry Clerk Jessica
Miller
1. Call Meeting To Order
Pursuant to due call and notice thereof, the meeting of the Economic Development
Authority was called to order at 5:30 p.m. by President Touchette.
2. Consider Agenda
MOVED BY COMMISSIONER TVEITE AND SECONDED BY
COMMISSIONER ZERWAS TO APPROVE THE NOVEMBER 8 EDA
AGENDA. MOTION CARRIED 6-0.
3. Consider Consent Agenda
MOVED BY COMMISSIONER WESTGAARD AND SECONDED BY
COMMISSIONER MOTIN TO APPROVE THE CONSENT AGENDA AS
FOLLOWS:
3.1. OCTOBER 11, 2010 REGULAR MEETING MINUTES AS AMENDED
3.2. CHECK REGISTERS
3.3. BALANCE SHEET
3.4. REVENUE/EXPENDITURE REPORT
3.5. APPOINT CHAD VITZTHUM OF FIRST NATIONAL BANK OF ELK
RIVER TO THE EDA FINANCE COMMITTEE
MOTION CARRIED 6-0.
4. Open Mike
Debbi Rydberg, Chamber of Commerce -indicated that Guardian Angels is being awarded
the Chamber's Business of the Year Award. She invited the EDA to attend the ceremony.
5. Consider Micro Loan Request -Promo Products LLC
Ms. Mehelich presented the staff report.
Commissioner Tveite stated he believes it is a win-win to approve this request.
Economic Development Authority Minutes
November 8, 2010
Page 2
Commissioner Motin agreed but noted he would like to see staff work towards a 10-year •
amortization.
MOVED BY COMMISSIONER ZERWAS AND SECONDED BY
COMMISSIONER WESTGAARD TO APPROVE THE REQUEST BY PROMO
PRODUCTS, LLC, FOR A MICRO LOAN IN THE AMOUNT UP TO $25,000 AT
A 3% FIXED INTEREST RATE AND UP TO A 20-YEAR AMORTIZATION
WITH FIVE YEAR BALLOON. THE ECONOMIC DEVELOPMENT
AUTHORITY WILL SECURE A THIRD POSITION MORTGAGE ON REAL
ESTATE AT 19228 INDUSTRIAL BOULEVARD, AS WELL AS PERSONAL
GUARANTEES FROM THE OWNERS. MOTION CARRIED 6-0.
6. Discuss City Vision and Goals
Ms. Johnson reviewed the recently approved city vision statement and the goals supporting
the vision. She stated that it is important that all city boards and commissions are a part of
the visioning process. She indicated that staff is meeting to discuss possible action steps in
early December.
Commissioner Motin indicated that he would like to see a section included on items in the
packet that attempts to explain how the request fits into the city's vision and goals.
President Touchette indicated that a brochure or handout outlining the city's vision and
goals may be helpful.
Commissioner Dwyer stated he would like to see a new branding/marketing plan. Ms.
Mehelich agreed. She stated that the current branding plan is a decade old and needs
refreshing in order to convey a consistent marketing message throughout the city. She noted
that the EDA already has money budgeted for amarketing/branding plan.
Ms. Rydberg stated that the city's goals are admirable and she believes the business
community will embrace the pro-business focus.
Ms. Johnson indicated that the EDA can begin the branding process which can run
simultaneously with the visioning action steps.
Consensus of the EDA was for staff to proceed with evaluating options on moving forward
with the branding program, including cost estimates. The EDA would also like staff to
present a proposed scope of work and draft action steps in December.
7. Staff Updates
Ms. Mehelich indicated that Mucho Loco and Pompeii Pizaeria are two new restaurants that
have opened up in Elk River.
Ms. Mehelich stated that the EDA will meet jointly with the Council in December to discuss
implementation of the 17150 Avenue Focused Area Study.
8. Other Business
Economic Development Authority Minutes
November 8, 2010
• There was no other business.
9. Adjournment
Page 3
There being no other business, President Touchette adjourned the meeting of the Elk River
Economic Development Authority at 6:26 p.m.
Minutes prepared by Jessica Miller.
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Tina Allard, City Clerk
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Ron ouchette, President
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