3.1 EDSR 02-16-2016 DRAFT MIN r Item 3.1
El of
Meeting of the Elk River
River Economic Development Authority
Held at the Elk River City Hall
Tuesday,January 19, 2016
Members Present: President Tveite,Commissioners Burandt,Westgaard,Olsen,
Wagner,and Ovall
Members Absent: Commissioner Provo
Staff Present: Economic Development Director Amanda Othoudt,Economic
Development Specialist Colleen Eddy,and 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 5:30 p.m. by President Tveite.
2. Consider 01/19/2016 Agenda
Moved by Commissioner Wagner and seconded by Commissioner Olsen to
approve the January 19,2016, agenda. Motion carried 6-0.
3. Consider Consent Agenda
Moved by Commissioner Westgaard and seconded by Commissioner Olsen to
approve the following consent agenda:
3.1 December 21,2015, 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.
3.5 Designate the Elk River Star News as the Official Newspaper for 2016
and the West Sherburne Tribune and Sherburne Citizen-Tribune as
backup newspapers.
3.6 Designate the following banks and institutions as official depositories
for 2016:
• First National Bank of Elk River
• 4M Fund
• Wells Fargo Bank
• The Bank of Elk River
• US Bank
• TCF Bank
• UBS
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January 19,2016
3.7 Designate the Elk River City Hall as the Economic Development
Authority's meeting place for 2016.
3.8 Designate the third Monday of each month at 5:30 p.m. as the regular
meeting date and time for Economic Development Authority meetings
for 2016, and any meeting falling on a holiday be held on the next
business day at the same time and location.
3.9 Reappoint Amanda Othoudt as Executive Director for the Economic
Development Authority.
Motion carried 6-0.
4. Open Forum
No one appeared for Open Forum.
5. Public Hearings
There were no public hearing items scheduled for this agenda.
6.1 Confirmation and Recognition of New Commissioners
Ms. Othoudt presented the staff report.
Moved by Commissioner Wagner and seconded by Commissioner Burandt to
recognize the appointment of Nate Ovall as a new Economic Development
Commissioner.
Motion carried 6-0.
6.2 Election of Officers and Establish Terms
Ms. Othoudt presented the staff report.
Moved by Commissioner Westgaard and seconded by Commissioner Burandt
to approve the following officers for 2016:
• President—Dan Tveite
• Vice President—Jennifer Wagner
• Secretary—Barb Burandt
• Treasurer—Matt Westgaard
• Assistant Treasurer—Bryan Provo
Motion carried 6-0.
6.3 EDA Sub Committee Appointments
Ms. Othoudt presented the staff report.
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January 19,2016
Commissioner Wagner indicated she was willing to continue serving on the Finance
Committee but asked the commission if there would be a better representation if
another at-large member was appointed,as there were already two other EDA
members on the committee.
Commissioner Westgaard indicated that historically there has been one seat on the
Finance Committee held by a councilmember.
Moved by Commissioner Westgaard and seconded by Commissioner Burandt
to approve the continuation of the following members for the Economic
Development Finance Committee:
• EDA: Dan Tveite
• EDA:Nate Ovall
• Banking: Chad Vitzthum
• Banking:Nate Ovall
• Law: Paul Motin
• Real Estate: Ryan Hardin
• At-Large: Larry Toth
• At-Large:Jennifer Wagner
Motion carried 6-0.
6.4 Designation of Current Committee Assignments to Commissioners
and any New Committees and Assignments
Ms. Othoudt presented the staff report and indicated she had no recommendations.
6.5 Reports of Officers and Subcommittees and Staff End-of-Year Report
Ms. Othoudt presented the staff report and highlighted a few areas worth noting.
Commissioner Westgaard and President Tveite stated the report was well-presented
and staff's efforts in 2015 were complimented.
6.6 Discussion of Modifications/Amendments to Statute and/or Enabling
Resolution
Ms. Othoudt presented the staff report.
6.7 Consideration of Staff Assignments
Ms. Othoudt presented the staff report.
President Tveite asked the commission if anything else should be added to this list of
priorities.
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Commissioner Westgaard felt the list presented contained plenty of priorities and felt
given the current market trend and achievements of 2015,it was a good list of goals
that would best serve the EDA and bring businesses to the community.
6.8 Discussion of Bylaws and any Suggested Amendments
Ms. Othoudt presented the staff report.There were no suggestions or amendments
required at this time.
6.9 Patriot Converting Microloan Application
Ms. Othoudt presented the staff report. Mikaela Huot,Vice President/Consultant
from Springsted Incorporated,was available for any questions.
President Tveite indicated this business would show an increase in the efficiency of
their company by consolidating their locations,not requiring shipping raw materials
daily between locations and thereby reducing handling costs. He asked which fund
the finance director suggested this microloan be funded from.
Ms. Othoudt stated at the recommendation of Finance Director Tim Simon,this
microloan should be funded under the microloan fund.
Commissioner Wagner stated she felt this was a good business to locate to Elk River
and this microloan allowed the business to offer employment opportunities and
consolidate two locations,thereby decreasing operating costs.
Moved by Commissioner Wagner and seconded by Commissioner Olsen to
approve the jobs incentive microloan fund application submitted by Patriot
Converting, Inc., as outlined in the staff report,with funds to be utilized by
the microloan fund.
Motion carried 6-0.
6.10 Directors Report
Ms. Othoudt presented the staff report.
7.1 Other Business
There was no other business.
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8. Adjournment
There being no further business,Chair Tveite adjourned the meeting of the Elk
River Economic Development Authority at 5:56 p.m.
Minutes prepared by Jennifer Johnson
Dan Tveite,EDA President
Tina Allard,City Clerk
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