01-31-2017 JFC MIN :.;;,*4
City of
ElkMeeting of the Elk River EDA Finance Committee •
River Held at the Elk River city-Hall •
Tuesday,January 31, 2017
Members Present: Larry Toth, Ryan Hardin,Dan Tveite,Jim Gromberg, Nate Ovall, Bryan
Provo, and Chad Vitzthumn
Members Absent: Jennifer Wagner
Staff Present: Amanda Othoudt, Economic Development Director and Colleen Eddy,
Economic Development Specialist
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 7:35 a.m.
2. Consider Agenda
Motion by Gromberg and-seconded by Vitzthum to approve the agenda. Motion
carried 7-0.
3.0 Consent Agenda
Motion by Toth and seconded by Hardin to approve the consent agenda. Motion
carried 7-0.
4.1 EDA Microloan Policy Review
Ms. Othoudt presented the staff report. Member's discussed various items such as the
environmental concerns, defined the expectations,reviewed the ineligible activities, call of
the loan if applicant does not meet the defined requirements, and to keep the verbiage
consistent with the other microloan policies.
Next meeting members will review all policies.
5.1 Announcements
5.1 Ethanol Technology Verbal Update
Ms. Othoudt stated that there has been progress made on the case. The judge assigned to the
case has reviewed Ethanol Technologies tax debts to the federal and state departments
which might prevent the city from getting paid. Ms. Othoudt is working with the judge to
get more information. The case continues.
• 6. Adjournment
There being no further business Chair Tveite moved to adjourn the meeting at 8:37 a.m.
Minutes prepared by Colleen Eddy. •
Tina A , City Clerk
Ama a Othoudt, Economic Development Director