3.1. JFC 08-27-2019
Meeting of the Elk River Joint Finance Committee
Held at Elk River City Hall
Tuesday, June 25, 2019
Members Present: Larry Toth, Ryan Hardin, Chad Vitzthum, Michelle Eder and Nate Ovall
Members Absent: Jim Gromberg, Rhonda Magnussen, and Dan Tveite
Staff Present: Amanda Othoudt, Economic Development and Colleen Eddy, Economic
Development Specialist
Others Present: None
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 7:35 a.m.
2. Consider Agenda
Motion by Eder and seconded by Vitzthum to approve the June 25, 2019, Joint
Finance Committee agenda.
Motion carried 5-0.
3. Consent Agenda
Motion by Vitzthum and seconded by Eder to approve the June 25, 2019 Joint
Finance Committee consent agenda:
3.1. July 31, 2018 Joint Finance Committee meeting minutes
3.2. Revolving Loan Fund Balance report
Motion carried 5-0.
4.1 Microloan Essentials Discussion
Ms. Othoudt presented the staff report. Members discussed the credit memo and
corresponding forms. Member Ovall made a recommendation for Ms. Othoudt to
refine the forms to meet the EDA’s needs. The committee will review the forms at a
future meeting.
5.1 Announcements
Member Hardin questioned where the Ethanol Technology debt collection process was at.
Ms. Othoudt confirmed that the case was finalized in 2018.
6. Adjournment
There being no further business, Mr. Toth adjourned the meeting at 8:30 a.m.
Minutes prepared by Colleen Eddy.
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Tina Allard
City Clerk
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Amanda Othoudt
Economic Development Director