3.1A EDSR 05-19-2014 Elk _
�►, Meeting of the Economic Development Authority
River Held at Elk River City Hall
Monday, April 21, 2014
Members Present: Commissioners Provo,Wilson,Westgaard,Tveite,Burandt, and
Dwyer
Members Absent: Commissioner Motin
Staff Present: Economic Development Director Brian Beeman, Community
Operations and Development Deputy Director Manager Jeremy
Barnhart,Economic Development Specialist Colleen Eddy, and City
Clerk Tina Allard
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 Chair Tveite.
2. Consider 04/21/2014 Agenda
Moved by Commissioner Westgaard and seconded by Commissioner Dwyer
to approve the April 21,2014 agenda. Motion carried 6-0.
3. Consent Agenda
Moved by Commissioner Provo and seconded by Commissioner Dwyer to
approve the following consent agenda:
3.1. March 17,2014 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 6-0.
4. Open Forum
No one appeared for Open Forum.
5. Public Hearings
None
6.1 Orluck Industries Forgivable Loan Extension
Mr. Beeman presented the staff report.
City Council Minutes Page 2
April 21,2014
There was discussion regarding the interest for this project.
Mr. Beeman stated interest has been discontinued. He stated it may not be reinstated
due to the administrative costs and paperwork involved.The intent is to zero out the
account as per DEED's request.
Commissioner Provo stated the following speaking from his own experience:
• first quarter revenues for this type of industry has been soft
• Orluck Industries has great respect in their field
• military work has been down
He stated Orluck is a great business to keep in Elk River and the city should try to
support them the best they can,but he also understands the need to support other
businesses.
Moved by Commissioner Provo and seconded by Commissioner Westgaard to
approve a Forgivable Loan extension for Orluck Industries in the amount of
$200,000 and to recommend approval of the City Council. Motion carried 6-0.
6.2 FAST Study Implementation
Mr. Barnhart presented the staff report.
7.1 Economic Development/Housing Intern
Mr. Beeman introduced new employee Colleen Eddy. He also announced staff is
advertising for a new intern who will work 32-40 hours a week and the hours will be
split 60/40 with the Housing and Redevelopment Authority.
8. Adjournment
There being no further business, Chair Tveite adjourned the meeting of the
Economic Development Authority at 5:40 p.m.
Dan Tveite,EDA President
Tina Allard, City Clerk
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