EDSR MEMORANDUM 09-11-1995 ELK RIVER ECONOMIC DEVELOPMENT AUTHORITY
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MEMORANDUM
TO: Economic Development Authority
FROM: William Rubin, Executive Directfin,
DATE: September 11, 1995
SUBJECT: Agenda Memo for September 11, 1995,
Meeting
6. September Financial Update
Please refer to the financial summary prepared by Assistant City
Administrator Lori Johnson.
Action Requested
The September financial update is an informational item only and no
action is requested.
8. TIF Plan Public Hearing
This agenda item is outlined in greater detail in a separate memo.
9. Review Riverfront Pathway Concept Plans
On Monday, October 2, 1995, the Elk River Housing and
Redevelopment Authority and the City Council will both conduct
public hearings on the concept plans for the Mississippi Riverfront
Pathway Project. Because of the EDA's ownership of the
redevelopment site in the 600 block of Main Street, the concept plans
will have an effect on this site. As a result, it may be appropriate that
the EDA review the concept plans and forward any comments to the
HRA and City Council.
To assist with the review,black and white reductions of the concept
plans are included in the agenda packet. In addition, the project's
preliminary cost estimates, as prepared by Hoisington Koegler Group,
Inc.. have been included in the packet.
•
P.O. Box 490 • 13065 Orono Parkway • Elk River, MN 55330-1743 • (612) 441-7420 • Fax: (612) 441-7425
Equal Opportunity Housing and Equal Opportunity Employment
EDA Agenda Memo Page 2
September 11, 1995
Action Requested
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Following its review of the concept plans, the EDA is asked to forward
its comments to the HRA and the City Council for consideration at the
October 2 public hearings.
10. School District No. 728 Conditional Use Permit
According to the Elk River zoning ordinance, government facilities in a
I-1 (light industrial) district require a conditional use permit (CUP).
As a result, School District No. 728 has applied for a CUP in order to
construct its maintenance facility on Lot 8, Block 1, Elk River
Industrial Park. EDA Commissioners will recall conducting a public
hearing on the sale of this lot to District No. 728 last May.
Included in the agenda packet is a map of the Elk River Industrial
Park which helps identify Lot 8. In addition, the initial concept site
plan of the District's facility, as proposed last spring, together with the
current site plan, have been enclosed in the agenda packet.
Comparing the two plans, the writer of this memo believes that it has
changed sufficiently enough to warrant comment by the EDA at the
time of the Planning Commission hearing and City Council meeting on
this matter. For example, previously, it was represented by the School
District that no outside storage would occur on Lot 8. The current site
plan indicates an area proposed for yard storage. In addition, the
current site plan indicates warehouse docks along the front of the
District's fa ility. The initial site plan indicated no docks, but rather,
a freezer/cooler in the front of the facility.
Because the EDA is still the owner of record of Lot 8, it and other
property owners within 350 feet of the lot, will receive a copy of the
hearing notice for the Planning Commission and the City Council
meetings. The Planning Commission will conduct its hearing on this
matter on September 26, 1995;the City Council will conduct its public
hearing on October 2, 1995.
Action Requested
As the property owner of Lot 8,the EDA is asked to forward any
comments, if any, to the Elk River Planning Commission and the Elk
River City Council relative to the conditional use permit requested by
School District No. 728 on the proposed construction of a 21,000 square
foot buildings and ground facility in the Elk River Industrial Park.
40 eda/meetings:agrnm9l 1
STATEMENT OF FINANCIAL ACTIVITY
for period ended August 31, 1995
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ECONOMIC DEVELOPMENT AUTHORITHY
Cash Balance $ 50,701
Month to Year to Month to Year to
1995 Budget Date Date 1995 Budget Date Date
Revenues Expenditures
Property Tax 73,850 - 39,892 Personal Services 41,400 40 40
HACA 12,050 - 6,031 Supplies 800 28 1,004
Refunds&Reimb - - 10,390 Other Crgs&Sry 28,700 3,545 16,281
Interest Income78 383 Contractual Service 9,100 -
-
-
Total Revenues 85,900 78 56,696 Transfers 1,000 - 1,000
Total Expenditures 81,000 3,614 18,325
MICRO LOAN FUND
Cash Balance $111,708
Month to Year to Month to Year to
Date Date Date Date
Revenues Expenditures
Application Fees - 980 Loans 50,000 148,000
Interest Income - (1,607) Total Expenditures 50,000 148,000
• Loan Payments 7,264 70,449
Total Revenues 7,264 69,822
As of September 6
Business Current Business Current
Alltool Grant N Pomeroy Tool Y
Roma Tool Grant N Designing Women Y
Second Generation Y Tescom Y
Indy Lube Y Woodsmen Quality Y
Beaudry Y Larose Y
R&D Sales Y Water Laboratories N
Mork Clinic Y E R Automall Y
Americlnn Y T J Properties Y
DTED LOAN FUND
Cash Balance $ 42,883
Month to Year to Month to Year to
Date Date Date Date
Revenues Expenditures
Application Fees - - Loans - -
Interest Income - 591 Total Expenditures - -
Loan Payments 2,591 23,874
Total Revenues 2,591 24,465
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