9.2. EDSR 11-20-2023
Request for Action
To Item Number
Economic Development Authority 9.2
Agenda Section Meeting Date Prepared by
Work Session November 20, 2023 Brent O’Neil, Economic Development Director
Item Description Reviewed by
Die Concepts Loan Cal Portner, City Administrator
Reviewed by
Action Requested
Item presented for information and discussion purposes.
Background/Discussion
The EDA has an outstanding loan to Die Concepts, with a current balance of approximately $130,000. The loan
was due for a balloon payment in June. Staff and the Joint Finance Committee have been working with Die
Concepts on a potential extension or modification of the loan.
Staff wishes to keep the EDA apprised on the status of the loan and ensure staff is aligned with the board on the
direction being taken.
Financial Impact
N/A
Mission/Policy/Goal
Support existing businesses.
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: January 2023