06-25-2019 JFC MIN City of
Elk
River 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
I. 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. t
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 `
i
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.
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•
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. •
*- 694
Tina Allard
Ci Clerk
Amanda Othoudt
Economic Development Director