04-16-2018 EDA MIN 0 '>"(*
City of
ElkMeeting of the Elk River
River Economic Development Authority
Held at the Elk River City Hall
Monday, April 16, 2018
Members Present: President Tveite, Commissioners Olsen (arrived at 5:43),Westgaard,
Ovall, and Wagner
Members Absent: Commissioners Provo and Blesener
Staff Present: Economic Development Director Amanda Othoudt,Economic
Development Specialist Colleen Eddy, and Records Specialist Katie
Porath
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 5:31 p.m. by President Tveite.
2. Consider April 16, 2018, Agenda
• Moved by Commissioner Westgaard and seconded by Commissioner Ovall to
approve the April 16,2018, agenda.
Motion carried 4-0.
3. Consider Consent Agenda
Moved by Commissioner Ovall and seconded by Commissioner Wagner to
approve the following consent agenda:
3.1 March 19,2018, 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.
Motion carried 4-0.
4. Open Forum
No one appeared for Open Forum.
5. Public Hearings
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There were no public hearing items.
Economic Development Authority Minutes Page 2
April 16,2018
6.1 Director's Report
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Ms. Othoudt presented the Director's Report.
Ms. Othoudt asked for input on a date for an EDA retreat to set goals and strategic
planning for the next year.The tentative date was set at May 25, 2018 from 8:00 a.m.
— 10:00 a.m.
Ms. Othoudt stated the city does not currently have a sale and acquisition policy.
President Tveite asked if there are state guidelines. Ms. Othoudt responded that the
League of MN Cities establishes criteria but does not set policy;policy is set by
individual communities.
7. Other Business
There was no other business.
In order to extract value from the Golden Shovel Report, Commissioner Ovall asked
that information on the report, such as statistics,bounce rate, and average session
duration,be clarified as it is unclear whether they are good or bad analytics. He also
asked the cost of the report. Ms. Eddy responded that the report cost is split
between the HRA and EDA with each paying$5,700.
III
Commissioner Olsen arrived at 5:43 p.m.
The Commissioner recessed at 5:45 p.m. in order to go into work session.
The Commissioner reconvened the meeting at 5:47 p.m.
8.1 Business Incubator Program Policy
Ms. Othoudt presented the staff report.
The intended purpose of the Business Incubator Program would be to assist home
based businesses and startups in finding leasable space. President Tveite stated it is
not practical for many home based businesses to have a location outside the home
because of the amount of money they are earning.
Ms. Othoudt asked if the commission may be interested in setting aside funds to test
the program.
Commissioner Westgaard asked if any of the current EDA programs could help
home based businesses find a location. Ms. Othoudt responded that current
programs assist in purchasing equipment and focus on helping already established
businesses.
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Economic Development Authority Minutes Page 3
April 16,2018
• President Tveite clarified that the new plan would be a subsidy rather than a loan. He
supported the idea of attracting different types of businesses and,as a side benefit,
leasing space if it is available.
Commissioner Ovall asked if the EDA would be putting on the classes mentioned in
the staff report. Ms. Othoudt stated that these classes were tools available online
through the Small Business Administration, the IRS, and others.Applicants can
participate in these classes online and produce a certificate of completion to present
to staff. Commissioner Westgaard asked if participants needed to take all of the
classes and Commissioner Wagner asked if classes could be taken from any source.
Ms. Othoudt confirmed. Commissioner Ovall wished that it was a set curriculum
from one source. President Tveite would like to see some flexibility in the classes
that are required since an accountant or legal professional would have little use for a
basic bookkeeping class, for example. Ms. Othoudt agreed that there should be some
flexibility.
Commissioner Ovall commented that the currently written policy sounded like
participants had to take all classes prior to opening but Ms. Othoudt had stated that
certificates must be presented within 18 months.
President Tveite suggested the commissioners read through the policy again,offer
comments to staff by email,and bring it up again at the next EDA meeting.
111 Ms. Othoudt added that the cost of some of the classes may be offset byavailable
grants.
President Tveite recommended that a decision be reached before the next year
budget is determined. Ms. Othoudt asked if it might be a topic to discuss at their
retreat.
9. Adjournment
There being no further business,President Tveite adjourned the meeting of the Elk
River Economic Development Authority at 6:04 p.m.
Minutes prepared by Katie Porath
Dan Tveite,EDA resident
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IIITina Allard, City Clerk
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