3.1. ED DRAFT MINUTES 08-17-2015Meeting of the Elk River
Economic Development Authority
Held at the Elk River City Hall
Monday, July 20, 2015
Members Present: President Tveite, Commissioners Westgaard, Provo, Olsen, and
Wagner
Members Absent: Commissioner Burandt and Dwyer
Staff Present: Economic Development Director Amanda Othoudt, Economic
Development Specialist Colleen Eddy, and Executive
Secretary/Deputy City Clerk Jessica Miller
1.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 5:35 p.m. by President Tveite.
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2.Consider 07/20/2015 Agenda
Ms. Othoudt moved item 6.4. under public hearings.
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Moved by Commissioner Westgaard and seconded by Commissioner Wagner
to approve the July 20, 2015, agenda as amended. Motion carried 5-0.
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3.Consent Agenda
Moved by Commissioner Westgaard and seconded by Commissioner Olsen to
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approve the following consent agenda:
3.1 June 15, 2015, regular meeting minutes.
3.2 Check register as outlined in the staff report.
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3.3 Balance sheet as outlined in the staff report.
3.4 Revenue/expenditure report as outlined in the staff report.
Motion carried 5-0.
4.Open Forum
No one appeared for open forum.
5.Public Hearings
6.4 Promo Products, LLC Microloan Extension Application
Amanda presented the staff report.
Economic Development Authority Minutes Page 2
July 20, 2015
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President Tveite opened the public hearing. There being no one to speak to this
issue, President Tveite closed the public hearing.
Ms. Othoudt noted Finance Committee reviewed this request and recommended
approval.
Moved by Commissioner Westgaard and seconded by Commissioner Provo to
adopt resolution 15-04 authorizing a two-year extension to the maturity date
of the note and loan agreement to 19228 LLC (Promo Products Project).
Motion carried 5-0.
6.1. Sportech, Inc. Property Tax Abatement Financing Application
Ms. Othoudt presented the staff report.
Mikaela Huot, Springsted Ï explained the abatement structure.
Moved by Commissioner Westgaard and seconded by Commissioner Wagner
to recommend City Council approval of the tax abatement application for
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Envision Companies, LLC. (Sportech Inc). Motion carried 5-0.
6.2 Morrell Companies, Inc. Property Tax Abatement Financing
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Ms. Othoudt presented the staff report.
Moved by Commissioner Provo and seconded by Commissioner Olsen to
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recommend City Council approval of the property tax abatement assistance
for Scott Morrell, LLC/Morrell Oversize (Morrell Companies). Motion carried
5-0.
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6.3 Morrell Companies, Inc. Industrial Incentive Microloan Application
Ms. Othoudt presented the staff report.
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Commissioner Provo thanked staff for working with Morrell Companies. President
Tveite concurred.
Moved by Commissioner Wagner and seconded by Commissioner Westgaard
to recommend City Council approval of the Jobs Incentive Microloan
application for Scott Morrell, LLC/Morrell Oversize (Morrell Companies).
Motion carried 5-0.
6.5 DirectorÔs Report
Ms. Othoudt presented the directorÔs report.
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July 20, 2015
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7. Announcements
There were no announcements.
8. Adjournment
There being no further business, Chair Tveite adjourned the meeting of the Elk
River Economic Development Authority at 6:07 p.m.
Minutes prepared by Jessica Miller.
Dan Tveite, EDA President
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Tina Allard, City Clerk
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