12-16-2013 EDA MIN VA
City of
Elk Meeting of the Elk River
River Economic Development Authority
Held at the Elk River City Hall
Monday, December 16, 2013
Members Present: President Tveite, Commissioners Burandt,Dwyer,Westgaard, Provo,
Wilson, and Motin
Members Absent: None
Staff Present: Community Operations and Development Deputy Director Jeremy
Barnhart, Economic Development Director Brian Beeman,EDA
Intern Chanda Knoof, and Executive Secretary/Deputy City Clerk
Jessica Miller
I. 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 Tveite.
2. Consider 12/16/2013 Agenda
Item 6.1. was removed from the agenda.
Moved by Commissioner Motin and seconded by Commissioner Wilson to
approve the December 16, 2013, agenda as amended. Motion carried 7-0.
3. Consider Consent Agenda
Moved by Commissioner Westgaard and seconded by Commissioner Dwyer
to approve the following consent agenda:
3.1 November 18, 2018, EDA minutes.
3.2 Check register as outlined in the staff report.
3.3 Balance sheet as outlined in the staff report.
3.4 Revenue/expenditure report as outlined in the staff report.
Motion carried 7-0.
4. Open Forum
No one appeared for Open Forum.
S. Public Hearing
There were no public hearings.
Economic Development Authority Minutes Page 2
December 16,2013
6.2 Bank of Elk River Default •
Mr. Barnhart presented the staff report.
Commissioners Wilson and Dwyer recused themselves from this discussion.
Commissioner Motin provided an update from the Finance Committee's discussion
on this item.
Commissioner Provo questioned if the Bank could be given more time to meet the
goals. Commissioner Motin explained that the time period has already been extended
and no further extensions are allowed by law.
It was noted this item will come back for formal approval in January.
Moved by Commissioner Motin and seconded by Commissioner Westgaard
to develop an amendment to the Business Subsidy Agreement to reduce the
number of jobs required to the 13 achieved by the Bank in December 2010,
allow tax abatement payments to continue as contemplated under the
Agreement up to a maximum of$195,000 within the 12 year period provided
under the Agreement, and to consult with the Bank on how they would like
the remainder of the abatement paid out. Motion carried 5-0. Commissioners
Wilson and Dwyer abstained. •
6.3 Sportech Forgivable Loan Application
Mr. Barnhart presented the staff report.
Moved by Commissioner Dwyer and seconded by Commissioner Provo to
prepare a loan agreement for Sportech as recommended by the Economic
Development Authority Finance Committee to be formally approved in
January. Motion carried 7-0.
6.4 Nature's Edge Business Center Phase II
Mr. Barnhart presented the staff report.
Commissioner Wilson questioned if there is enough interest in the project to warrant
the expenditure. Mr. Barnhart and Mr. Beeman explained that staff receives two to
three calls a day from all types of industries but many times they are looking for land
available soon and are turned away. Mr. Beeman commented that moving up Phase
II will help the city be prepared for future development inquiries.
Commissioner Westgaard questioned the construction timeline. Mr. Barnhart
indicated that assuming all funding comes together and appropriate plans are
•
P WEfE . er
INATUREJ
Economic Development Authority Minutes Page 3
December 16,2013
• approved, the project could be construction ready as soon as late spring/early
summer.
Commissioner Burandt questioned if other phases would be moved up as well. Mr.
Barnhart stated that the timelines of other phases would be based on EDA or
Council direction.
Moved by Commissioner Dwyer and seconded by Commissioner Burandt to
recommend moving Phase II of the Nature's Edge Business Center project
up in the Capital Improvement Plan from 2017 to 2014. Motion carried 7-0.
7. Other Business
There was no other business.
8. Adjournment
There being no further business, Chair Tveite adjourned the meeting of the Elk
River Economic Development Authority at 6:01 p.m.
Minutes prepared by Jessica Miller.
•
Dan Tveite, EDA President
Tina Allard, City Clerk
•
PRMWERER RE
NATURE