09-22-2015 JFC MIN City of
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Elk Meeting of the Elk River EDA Finance Committee
River Held at the Elk River City Hall
Tuesday, September 22,2015
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Members Present: Paul Motin,Nate Ovall,Larry Toth, Dan Tveite, Ryan Hardin,Jennifer
Wagner,and Chad Vitzhum
Members Absent: None
Staff Present: Economic Development Director Amanda Othoudt
Also Present: • None
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 7:42 a.m.
2. Consider Agenda .
Motion by•Motin and seconded by Vitzhum to'approve the September 22,2015
Finance Committee agenda. Motion carried 7-0.
3.0 Consent Agenda
Motion by Toth and seconded by Motin to approve the Consent Agenda.
Motion carried 7-0. .
4.1 Uncollectable Microloans
Ms. Othoudt presented the staff report.
Discussion was had among the members regarding obtaining an updated summary of the
collection process and new cost estimate from the attorney in an effort to continue
collection of the past due balance of the Ethanol Technology microloan.
Members also agreed to continue to pursue collecting the balance of the Sweet Pea's
Microloan. Member Ovall directed staff to work with the owners of Sweet Peas to adjust the
Loan payment to something more affordable and extend the term in an effort to collect the
debt.
Motion-by Member Motin to pursue collection of the delinquent microloan. Motion
was seconded by Member Toth. Motion carried 7-0.
5. Announcements 1
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None —
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6. Adjournment
There being no further business Member Tveite moved to adjourn the meeting.
The meeting adjourned at 8:17 a.m.
Minutes prepared by Amanda Othoudt.
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Tina City Clerk •
ma a Othoudt, Economic Development Director