02-23-2016 JFC MIN ' t
ram:'
City of
Elk Meeting of the Elk River EDA Finance Committee
River Held at the Elk River City Hall
Tuesday, February 23,2016
Members Present: Paul Motin, Nate Ovall,Larry Toth, Dan Tveite,Jennifer Wagner, and Ryan
Hardin, Chad Vitzhum
Members Absent: None •
Staff Present: Amanda Othoudt, Economic Development Director
Also Present: Steve Rolf, Cornerstone Auto of Elk River
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 7:45 a.m.
2. Consider Agenda
Motion by Motin and seconded,by Wagner to approve the agenda as presented.
Motion carried 7-0.
3.0 Consent Agenda
Motion by Motin and seconded by Ovall to approve the Consent Agenda including
the December 8, 2015 meeting minutes. Motion carried 7-0.
4.1 Cornerstone Auto of Elk River Tax Abatement Application Financial Review
Ms. Othoudt stated that Cornerstone Auto of Elk River withdrew their application.
' Members discussed the "but for" analysis prepared by Springsted, Inc.
5.0 Announcements
, 5.1 Ethanol Technology Verbal Update
Ms. Othoudt gave a verbal update on the Ethanol Technology project. Ms. Othoudt stated
that staff has not received payment and will continue pursuing legal action in order to satisfy
the loan agreement.
6. Adjournment
There being no further business Chair Tveite moved to adjourn the meeting at 8:17 a.m.
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Minutes prepared by Colleen Eddy.
Tin. ' d, City Clerk-
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anda Othoudt, Economic Development Director
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