03-04-1996 CC MIN - SPECIAL-JOINT
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 Meetina 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
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,
~ ~~:-
Sandra Thackeray ~
City Clerk
s: \minutes \ed030496.doc