11-24-2020 JFC MIN
Meeting of the Elk River Joint Finance Committee
Held at Elk River City Hall
Held in person
Tuesday, November 24, 2020
Members Present: Ryan Hardin, Charlie Blesener (via phone), Chad Vitzthum (via phone),
Rhonda Magnussen (via phone) and Larry Toth
Members Absent: Dan Tveite, Michelle Eder, and Nate Ovall
Staff Present: Colleen Eddy, Economic Development Specialist
Others Present: Mikaela Huot, Baker Tilly and applicant Terry Morrell, Scott Morrell, LLC
1. Call Meeting to Order
Pursuant to due call and notice thereof, the meeting of the Elk River Joint Finance
Committee was called to order by HRA Chair Larry Toth at 7:49 a.m.
2. Consider Agenda
Motion by Hardin and seconded by Vitzhum to approve the Joint Finance
Committee agenda. Motion carried 5-0.
3. Consent Agenda
Motion by Hardin and seconded by Vitzhum to approve the September 29, 2020 Joint
Finance Committee meeting minutes. Motion carried 5-0.
4.1 Morrell Companies Microloan Extension
Ms. Eddy presented the staff report.
Ms. Huot presented the financial analysis. The committee discussed the applicants request
and the financials.
Motion was made by Vitzhum and seconded by Magnussen to recommend approval
of the request to the EDA. Motion carried 5-0.
5.1 Announcements
Ms. Eddy stated that there are two vacancies on the Joint Finance Committee; Jim
Gromberg and Michelle Eder’s positions. If anyone has any recommendations, please pass
them on to Ms. Eddy.
6. Adjournment
There being no further business, Mr. Toth adjourned the meeting at 8:02 a.m.
Minutes prepared by Colleen Eddy.
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Tina Allard
City Clerk
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Cal Portner
EDA Executive Director