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4.5. EDSR 06-21-2021 Request for Action Cir•ci Elk - River= To Item Number Economic Development Authority 4.5 Agenda Section Meeting Date Prepared by Consent June 21, 2021 Colleen Eddy, Economic Development Specialist Item Description Reviewed by Resolution Accepting Donations for the Cal Portner, City Administrator Slipstream Public Art Initiative Reviewed by Action Requested Adopt,by motion,resolution accepting donations from the Bank of Elk River, First Bank of Elk River, the State Farm Agency, and the Elk River Chamber of Commerce for the Slipstream Public Art Initiative. Background/Discussion The Public Art Subcommittee reached out to various organizations to help fund the Slipstream Public Art Initiative. Four organizations donated$5,250 to help offset costs associated with the Slipstream project: ■ The Bank of Elk River$2,500 ■ First Bank of Elk River $2,000 ■ State Farm—the Kevin Gleitz Agency$500 ■ Elk River Chamber of Commerce $250 Financial Impact The overall Public Art Initiative budget totals $20,000; $10,000 from the EDA,$4,125 from CMAB and$5,250 from various organizations. Mission/Policy/Goal The Public Art Subcommittee works under the EDA to implement a public art initiative. Attachments ■ Resolution The Elk River Vision P I I E R E I I Y A welcoming community avith revolutionary and spirited resourcefulness, exceptional [NAfUR service, and community engagement that encourages and inspires prosperity. Updated.August 2020 �j City of Elk River Commissioner introduced the following resolution and moved its adoption: City of Elk River Economic Development Authority Resolution 21-03 A Resolution of the Economic Development Authority of the City of Elk River Acknowledging Contributions WHEREAS, the Economic Development Authority of the City of Elk River is grateful to all civic groups, organizations, and individuals for their contributions to the community; and WHEREAS, the Economic Development Authority of the City of Elk River received donations from the list shown on Exhibit A for the Slipstream Public Art Initiative. NOW, THEREFORE, BE IT RESOLVED by the Economic Development Authority, by at least four-fifths vote, to acknowledge the support and commend them for their donations. The motion for adoption of the foregoing resolution was duly seconded by Commissioner and upon vote being taken thereon, the following voted in favor thereof: and the following against: whereupon said resolution was declared duly passed and adopted. The following members were present: and the following absent: Adopted this 21" day of June,2021. President ATTEST: Executive Director p 0 W I R I U 0 NATURE Exhibit A ■ First Bank of Elk River $2,000.00 ■ State Farm-the Kevin Gleitz Agency $ 500.00 ■ Bank of Elk River $2,500.00 ■ Elk River Chamber of Commerce $ 250.00 p 0 w I R 1 0 91' UREJ