03-28-2017 JFC MIN ss+ 4 }
City of
Elk Meeting of the Elk River EDA Finance Committee
River Held at the Elk River City Hall
Tuesday, March 28,2017
Members Present: Larry Toth, Ryan Hardin,Dan Tveite,Jim Gromberg,Bryan Provo, Chad
Vitzthum, and Nate Ovall
Members Absent: None
Staff Present: Amanda Othoudt, Economic Development Director and Colleen Eddy,
Economic Development Specialist
Others present: Mikaela Huot, Springsted;Jenny Bolton, Kennedy and Graven;Pat Briggs,
Applicant;Dave Selbitschka
1. Call Meeting to Order
Pursuant to due call and notice thereof;the meeting of the Elk River Finance Committee
was called to order at 7:32 a.m.
2. ' Consider Agenda
•Motion by Toth and seconded by Gromberg to approve the agenda. Motion carried
7-0.
3.0 Consent Agenda .
Motion by Gromberg and seconded by Toth to approve the consent agenda. Motion
carried 7-0.
•
4.1 Jackson Hill Residential Suites Housing TIF Application
Ms. Othoudt presented the staff report. Ms. Huot reviewed the But for Analysis prepared by
Springsted. Members discussed the application, asked for clarification the school and county •
financial rates, and establishing TIF districts.
Motion by Gromberg and seconded by Ovall to have the EDA table the Housing TIF
application discussion to the May 30 meeting. Further discussion was had about .
revising the TIF application. Motion carried 7-0.
Dan Tveite and Bryan Provo departed the meeting at 8:50 a.m.
4.2 EDA Microloan Policy Final Draft Review
Ms. Othoudt presented the staff report and discussed the revisions that were made to the
Microloan Policy,Jobs Incentive Microloan Policy and the Tax Abatement Policy.
Jim Gromberg departed the meeting at 9:10 a.m.
Motion by Vitzhum and seconded by Toth to move forward with the changes as
presented. Motion carried 4-0.
5.1 Announcements
5.1 Ethanol Technology Verbal Update
No update was given at the meeting due to time limitations.
6. Adjournment
Motion by Ovall and seconded by Vitzhum to adjourn the meeting at 9:26 a.m.
Motion carried 4-0.
Minutes prepared by Colleen-Eddy.
Tina ard, City Clerk
ma a Othoudt, Economic Development Director