8.1. EDSR 05-16-2022Request for Action
To Item Number
Economic Development Authority 8.1
Agenda Section Meeting Date Prepared by
Work Session May 16, 2022 Brent O’Neil, Economic Development Director
Item Description Reviewed by
Existing Microloan Request - Orluck Industries Cal Portner, City Administrator
Reviewed by
Action Requested
Item is presented for discussion purposes.
Background/Discussion
Orluck Industries has an existing loan through the EDA for equipment at its Elk River facility. Staff has been in
discussion with Orluck regarding the loan and will use this time to update the EDA. We will likely be bringing a
request to alter the loan to the June EDA meeting. This work session will provide feedback to staff ahead of
drafting documentation for a modification in June.
Financial Impact
N/A
Mission/Policy/Goal
Support Elk River’s existing businesses through relationship building, programmatic offerings, and high-quality
city services.
Attachments
None
The Elk River Vision
A welcoming community with revolutionary and spirited resourcefulness, exceptional
service, and community engagement that encourages and inspires prosperity.
Updated: August 2020