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4.1. EDA DRAFT MINUTES (2 SETS) 02-20-2024 Meeting of the Elk River Economic Development Authority Held at the Elk River City Hall Tuesday, January 16, 2024 Members Present: President Dan Tveite, Commissioners Cory Grupa, Matt Westgaard, Mike Beyer, Jennifer Wagner, Jeff Hartwig, and Charlie Blesener Members Absent: None Staff Present: Economic Development Director Brent O’Neil, Economic Development Specialist Joshua Mollan, and Deputy Clerk/Recording Secretary Jolene Richter 1. Call Meeting to Order Pursuant to due call and notice thereof, the meeting of the Elk River Economic Development Authority was called to order at 5:30 p.m. by President Tveite. 2. Pledge of Allegiance: Pledge of Allegiance was recited. 3. Consider Agenda Moved by Commissioner Westgaard and seconded by Commissioner Wagner to approve the agenda. Motion carried 7-0. 4. Consent Agenda Moved by Commissioner Blesener and seconded by Commissioner Beyer to approve the following consent agenda: 4.1 December 18, 2023, Regular Meeting Minutes. 4.2 Check register as outlined in the staff report. 4.3 Balance sheet as outlined in the staff report. 4.4 Revenue/Expenditure report as outlined in the staff report. 4.5 2024 Meeting Schedule as outlined in the staff report. Motion carried 7-0. 5. Open Forum No one appeared for Open Forum. 6. Public Hearings There were no public hearings. Economic Development Authority Minutes Page 2 January 16, 2024 ----------------------------- 7.1 Annual Election of Officers Mr. Mollan presented the staff report. He asked the commissioners to nominate and appoint the new officers. He stated the 2023 officers were as follows, with the Secretary and Assistant Treasurer being delegated to the Executive Director per the bylaws: President – Dan Tveite Vice President – Mike Beyer Treasurer – Jeff Hartwig Moved by Commissioner Blesener and seconded by Commissioner Westgaard to appoint Dan Tveite as the EDA President for 2024. Motion carried 7-0. Moved by Commissioner Westgaard and seconded by Commissioner Wagner to appoint Mike Beyer as the EDA Vice President for 2024. Motion carried 7-0. Moved by Commissioner Wagner and seconded by Commissioner Beyer to appoint Jeff Hartwig as the EDA Treasurer for 2024. Motion carried 7-0. 7.2 Committee Appointments Mr. Mollan presented the staff report. He asked the commissioners to designate new officers to the three committees. In 2023, the commissioners who served on the committees were as follows: EDA-HRA Joint Finance Committee Dan Tveite Charlie Blesener Together Elk River Committee Jennifer Wagner Charlie Blesener Beautification and Public Art Committee Dan Tveite Jennifer Wagner Moved by Commissioner Beyer and seconded by Commissioner Westgaard to designate the current commissioners to stay on their respective committees as listed for 2023. Motion carried 7-0. Economic Development Authority Minutes Page 3 January 16, 2024 ----------------------------- 7.3 Review of Enabling Resolution Mr. Mollan and Mr. O’Neil presented the staff report. 7.4 Review Bylaws Mr. O’Neil presented the staff report. Moved by Commissioner Westgaard and seconded by Commissioner Hartwig to adopt Resolution 24-01 approving amendments to the EDA bylaw as outlined in the staff report. Motion carried 7-0. 7.5 Die Concepts Loan Pay-off Mr. O’Neil presented the staff report. Moved by Commissioner Grupa and seconded by Commissioner Wagner to approve the pay- off amount for the EDA loan to Die Concepts as outlined in the staff report. Motion carried 7-0. 7.6 Real Estate Services Agreement Mr. O’Neil presented the staff report. Moved by Commissioner Westgaard and seconded by Commissioner Hartwig to approve the amendment to the brokerage listing agreement between the EDA and Hardin Companies as outlined in the staff report. Motion carried 7-0. 7.7 General Updates Mr. O’Neil provided updates on the following:  Mr. O’Neil has information regarding Economic Development organizations and the way they categorized them and work with them within the community. Mr. O’Neil will bring this information to a future meeting.  Marketing – they are working on updated marketing and focusing more on local and regional marketing.  Staff received a Tax Increment Financing (TIF) Application on a project that they have been working on. Staff will give EDA an update and a Joint Finance update and then bring it to the Council this Spring. The company is Heritage Millwork. Staff will have more details in February. Economic Development Authority Minutes Page 4 January 16, 2024 ----------------------------- Mr. Mollan provided updates on the following:  Website update as outlined in the staff report.  U of MN Extension is hosting a Home-Grown Entrepreneur event at Sherburne County on February 15 from 10 a.m.-2 p.m. 8. Adjourn Regular Meeting Moved by Commissioner Westgaard and seconded by Commissioner Wagner to adjourn the regular meeting of the Economic Development Authority. Motion carried 7-0. The regular meeting adjourned at 5:48 p.m. President Tveite called the work session to order at 5:50 p.m. 9.1 Shoot Steel – TIF Update Mr. O’Neil presented the staff report. He stated the property owner has requested that the TIF be left in place based on a proration relative to the number total jobs at Shoot Steel. With five current jobs and a total jobs requirement of 13.5, the total TIF amount would be adjusted by the same ratio. He indicated that legal counsel was in full support of this approach as well. This approach would lower the total amount of TIF to be paid and shorten the length of the TIF by several years. The commission directed staff to move forward with the process. 10. Motion to Adjourn Moved by Commissioner Beyer and seconded by Commissioner Wagner to adjourn the meeting of the Economic Development Authority. Motion carried 7-0. The meeting adjourned at 5:55 p.m. Minutes prepared by Jolene Richter. ___________________ Dan Tveite, EDA President ___________________ Tina Allard, City Clerk Closed Meeting of the Elk River Economic Development Authority Held at the Elk River City Hall Tuesday, January 16, 2024 Members Present: President Dan Tveite, Commissioners Cory Grupa, Matt Westgaard, Mike Beyer, Jennifer Wagner, Jeff Hartwig, and Charlie Blesener Members Absent: None Staff Present: Economic Development Director Brent O’Neil, Community Development Director Zack Carlton, and Deputy City Clerk Jolene Richter Others Present: Ryan Hardin, Hardin Companies 1. Call Meeting to Order Pursuant to due call and notice thereof, the meeting of the Elk River Economic Development Authority was called to order at 6:00 p.m. by President Tveite. 2. Closed Meeting The purpose of the meeting was to consider offers or counteroffers for the purchase or sale of real property th PID 75-00820-0105, also known as 10835 170 Ave NW, Elk River per MN Statute 13D.05, Subd. 3c(c)(3). 3. Adjournment There being no further business, President Tveite adjourned the meeting of the Elk River Economic Development Authority at 6:32 p.m. Minutes prepared by Jolene Richter. ___________________ Dan Tveite, EDA President ___________________ Tina Allard, City Clerk