3.1A EDSR 10-20-2014 EDA MIN DRAFT City of
'). D R A FT
Elk Workshop Meeting of the Elk River
River Economic Development Authority
held at the Elk River City Hall
Monday,July 21, 2014
Members Present: President Tveite, Commissioners Burandt, Dwyer,Westgaard, Motin,
and Wilson (5:11 p.m.)
Members Absent: Commissioner Provo
Staff Present: Economic Development Director Brian Beeman, Economic
Development Specialist Colleen Eddy, and Senior Administrative
Assistant/Recording Secretary Jennifer Johnson
I. Call Meeting to Order
Pursuant to due call and notice thereof, the meeting of the Elk River Economic
Development Authority was called to order at 5:03 p.m. by President Tveite.
2. Consider 07/21/2014 Agenda
Moved by Commissioner Motin and seconded by Commissioner Dwyer to
approve the July 21,2014, agenda.
Motion carried 5-0.
3. Discuss 2015 EDA Budget Goals & Preliminary Budget
Mr. Beeman presented the staff report. He reviewed the Performance Measures and
Goals for 2015, the plans for Business Development, Rehabilitation and
Redevelopment, and Community Brand, and reviewed the budget detail sheet.
Ms. Eddy handed out two worksheets with further information regarding the 2015
Brand Plan Implementation Budget.
Motin asked for clarification of the budget for 2016 for Brand Plan Implementation.
After discussion and clarification,it was recommended to decrease the Brand Plan
Implementation budget for 2015 and 2016 from $10,000 to $5,000 for reoccurring
brand maintenance and capture any non-spent funds from 2014, transferring those
funds to 2015 as needed to cover the Powered by Nature Art Installation.
Ms. Eddy also provided handouts regarding the 2015 Advertising/Marketing Budget
and a copy of correspondence from the Initiative Foundation.
Economic Development Authority Minutes Page 2
July 21,2014
Discussion was held regarding the amount of the long-term fund balance available
for economic development purposes, and the names and types of projects the
monies have been used for in the past.
President Tveite requested staff provide a list of the projects completed in the last 10
years using the reserve funds to show anyone who asks what the reserve monies have
been used for and what benefits and value these projects have brought the city.
It was the consensus of the EDA to go with the maximum levy rate of.01813
percent of the taxable market value in the city for the year 2015.
4. Adjournment
There being no further business, Chair Tveite adjourned the meeting of the Elk
River Economic Development Authority at 5:48 p.m.
Minutes prepared by Jennifer Johnson.
Dan Tveite, EDA President
Tina Allard, City Clerk
10 / EBE1 Ir
NATURE