07-26-2016 JFC MIN
Meeting of the Elk River EDA Finance Committee
Held at the Elk River City Hall
Tuesday, July 26, 2016
Members Present: Nate Ovall, Dan Tveite, Jennifer Wagner, Paul Motin, Larry Toth, Ryan
Hardin and Chad Vitzhum
Members Absent: None
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 7:34 a.m.
2. Consider Agenda
Motion by Motin and seconded by Wagner to approve the revised agenda. Motion
carried 4-0.
3.0 Consent Agenda
Motion by Motin and seconded by Wagner to approve the Consent Agenda including
the June 28, 2016 meeting minutes. Motion carried 4-0.
Members Toth, Ovall, and Vitzhum arrived at 7:38 a.m.
4.1 EDA Financial Policy Review
Ms. Othoudt presented the staff report and highlighted some of the revisions that were
made to the Tax Increment Financing (TIF) Policy and Application. Commissioners had
various revisions and discussed the importance of keeping the verbiage consistent in all the
policies. At the next meeting the commission will review the Tax Abatement policy.
5.0 Announcements
None
6. Adjournment
Chair Tveite departed the meeting at 8:15 a.m.
There being no further business, motion by Motin and seconded by Wagner to adjourn the
meeting at 8:38 a.m.
Minutes prepared by Colleen Eddy.
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Tina Allard, City Clerk
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Amanda Othoudt, Economic Development Director