3.1. JFC DRAFT MINUTES 01-30-2018Meeting of the Elk River Joint Finance Committee
Held at the Elk River City Hall
Tuesday, January 30, 3018
Members Present: Larry Toth, Ryan Hardin, Dan Tveite, Jim Gromberg, Bryan Provo, Chad
Vitzthum, Nate Ovall, Rhonda Magnussen, and Michelle Eder
Members Absent: None
Staff Present: Amanda Othoudt, Economic Development Director and Colleen Eddy,
Economic Development Specialist
Others Present: Mikaela Huot, Springsted Inc.; Pat Briggs, Applicant
1. Call Meeting to Order
Pursuant to due call and notice thereof, the meeting of the Elk River Joint Finance
Committee was called to order at 7:32 a.m.
2. Consider Agenda
Motion by Gromberg and seconded by Hardin to approve the January 30, 2018, Joint
Finance Committee agenda.
Motion carried 9-0.
3. Consent Agenda
Motion by Eder and seconded by Toth to approve the January 30, 2018, Joint Finance
Committee consent agenda:
3.1. July 25, 2017, Joint Finance Committee meeting minutes.
3.2. Revolving Loan Fund Balance report.
Motion carried 9-0.
4.1 Tax Increment Financing Applications – Jackson Hills Residential Suites and The
Elk River Lodge Suites, LLC
Ms. Othoudt presented the staff report. Mikaela Huot from Springsted presented the But
For analysis. Members discussed various aspects of the application.
Motion by Provo and seconded by Magnussen to recommend approval of
establishing Tax Increment Financing District 25 as outlined in the staff report.
Motion carried 7-2 with Hardin and Toth opposing.
5.1 Announcements
There were no announcements.
6. Adjournment
There being no further business, Mr. Tveite adjourned the meeting at 8:47 a.m.
Minutes prepared by Colleen Eddy.
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Tina Allard, City Clerk
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Amanda Othoudt, Economic Development Director