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03-11-1996 HR MIN MEETING OF THE ELK RIVER HOUSING AND REDEVELOPMENT AUTHORITY HELD AT THE ELK RIVER CITY HALL MONDAY, MARCH 11, 1996 Members Present: Chair Schuldt, Commissioners, Kropuenske, Wilson, Farber and Hinkle Members Absent: None Staff Present: Pat Klaers, City Administrator;Sandra Thackeray, City Clerk 1. Call Meeting To Order Pursuant to due call and notice thereof, the meeting of the Elk River Housing and Redevelopment Authority was called to order at 5:30 p.m. by Chair Schuldt. 2. Consider Agenda COMMISSIONER FARBER MOVED TO APPROVE THE HRA AGENDA. COMMISSIONER HINKLE SECONDED THE MOTION. THE MOTION CARRIED 5-0. • 3. Consider Consent Agenda COMMISSIONER KROPUENSKE MOVED TO APPROVE THE CONSENT AGENDA AS FOLLOWS: 4.1. JANUARY 30, 1996, HRA MINUTES -- APPROVED 4.2. FEBRUARY 12, 1996 HRA MINUTES --APPROVED 8. PAT KLAERS APPOINTED AS EXECUTIVE DIRECTOR FOR HRA -- APPROVED 9. HRA CHECK REGISTER --APPROVED COMMISSIONER WILSON SECONDED THE MOTION. THE MOTION CARRIED 5-0. 5. Consider Commitment Agreement With Minnesota Housina Finance Aaency 6. Authorize Payment of Fees to Minnesota Housing Finance Agency Executive Director Pat Klaers informed the HRA members that the application submitted to the Minnesota Housing Finance Agency for first time homebuyers was successful. The amount granted to the City is$280,246. COMMISSIONER WILSON MOVED TO AUTHORIZE THE HRA CHAIR TO EXECUTE THE PROGRAM APPLICATION/COMMITMENT AGREEMENT ON BEHALF OF THE ELK RIVER HRA. COMMISSIONER FARBER SECONDED THE MOTION. THE MOTION CARRIED 5-0. COMMISSIONER FARBER MOVED TO AUTHORIZE PAYMENT OF FEES IN THE AMOUNT OF$2,862.46 TO MINNESOTA HOUSING FINANCE AGENCY TO COVER THE COSTS ASSOCIATED WITH THE 1996 MINNESOTA CITY PARTICIPATION PROGRAM. COMMISSIONER WILSON SECONDED THE MOTION. THE MOTION CARRIED 5-0. HRA Minutes March 11, 1996 Page 2 7. Update on ISTEA Riverwalk Grant Application The Executive Director updated the HRA on the status of the riverfront pathway grant request. Because Elk River ranked eighth in the subcommittee technical review, it is unlikely that an ISTEA grant will be received. The Executive Director indicated that the HRA will have to consider other sources of funding for the project. He also indicated that timing of the project should be considered. Discussion was held regarding the possibility of scaling down the project or phasing in the project to make it more affordable. Following discussion on this topic it was the consensus that the HRA is committed to the Riverwalk project. The HRA requested the Executive Director to ask Hoisington Koegler to explore options available for either a scaled down version or a phasing-in concept in order to make the project affordable. 10. Other Business There was no other business 11. Adiournment • There being no further business, COMMISSIONER FARBER MOVED TO ADJOURN THE MEETING. COMMISSION KROPUENSKE SECONDED THE MOTION. THE MOTION CARRIED 5-0. the meeting of the HRA was adjourned at 5:52 p.m. Respectfully submittedw Sandra Thackeray City Clerk s:\minutes\hr031196.doc SPECIAL MEETING OF THE ELK RIVER ECONOMIC DEVELOPMENT AUTHORITY HELD AT THE ELK RIVER CITY HALL MONDAY, MARCH 4, 1996 Members Present: President Gongoll, Commissioners Dwyer, Holmgren, Bender, Farber, and Duitsman Members Absent: Commissioners Dietz and Scheel Staff Present: Pat Klaers, City Administrator; Sandra Thackeray, City Clerk Also Present: County Administrator Dave Loch; Chamber Representatives Jackie Schuelein, Kermit Bode, Rich Duggan and Dennis Chuba; HRA Commissioners Gene Schuldt, Dick Hinkle, Stewart Wilson, and Duane Kropuenske; Utilities Commissioners Jim Tralle and George Zabee; County Economic Development Coordinator Michael Darger; Bank Representatives Jim Simpson and Dick Gongoll 1. Call Meeting To Order Pursuant to due call and notice thereof, the special meeting of the Elk River • Economic Development Authority was called to order at 5:00 p.m. by President Gongoll. President Gongoll indicated that those present represent the City Council, EDA, HRA, Chamber of Commerce, Elk River Utilities Commission and the business community. President Gongoll indicated that the purpose of the meeting was to hear a presentation from Roger Jenson and Harlan Jacobs regarding the Anoka County Business Incubator model. President Gongoll introduced Roger Jenson, Executive Director of the Anoka County Capital Fund and Harlan Jacobs, President of Genesis business Centers, Ltd. Roger Jenson and Harlan Jacobs gave presentations on the Anoka County Business Incubator. They explained that a business incubator provides low-cost space for newly-formed or emerging companies. These companies obtain discounted office and production space and sometimes they are able to obtain clerical services, business management counseling services, and tooling and machining space in the same facility. They further explained that companies are expected to leave the incubator and relocate into space that is more market rate after completing their R & D phase. Roger Jenson discussed the need for an equity capital fund that is capitalized by public funds. He explained that the main capital for the Anoka business incubator has come from eight local banks and two utility companies. Harlan Jacobs indicated that he is searching for progressive communities in which to start a business incubator. He indicated that he considers Elk River to be a • progressive community and would be an ideal location for this type of venture. EDA Minutes March 4, 1996 1111 Mr. Jacobs indicated that he would be able to recruit companies from the Twin Cities due to Elk River's location. Discussion was held as to what would be needed to start a business incubator in Elk River. It was indicated that an available building and funding would be necessary to get started. Mayor Duitsman indicated that the City of Elk River would be very interested in this type of project. Discussion was held regarding available buildings in the City for a business incubator. The County Administration building was mentioned as a possible consideration. Those present indicated that this would be a benefit to the City. Mayor Duitsman suggested that staff and the EDA work with Mr. Jenson and Mr. Jacobs to initiate the process for a business incubator in the City of Elk River. 2. Adiournment There being no further business, President Gongoll adjourned the EDA meeting. The meeting of the Elk River Economic Development Authority was adjourned at 6:45 p.m. Respectfully submitted, i <<� Sandra Thackeray r,- City Clerk s:\minutes\e d0 30496.doc •