02-11-2021 JFC MIN
Special Meeting of the Elk River Joint Finance Committee
Held at Elk River City Hall
Thursday, February 11, 2021
Members Present: Ryan Hardin, Charlie Blesener, Rhonda Magnussen, Dan Tveite(7:41 am),
Chad Vitzhum, Larry Toth
Members Absent: Nate Ovall and Denny Chuba
Staff Present: Colleen Eddy, Economic Development Specialist
Others Present:Mikaela Huot, Baker Tilly
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 Vice Chair Toth at 7:32 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 Magnussento approve the January 26, 2021Joint
Finance Committee meeting minutes. Motion carried 6-0.
4.1 Sportech LLC Tax Abatement Application
Ms. Eddy presented the staff report. Ms. Huot presented the financial analysis. The group
asked about job creation goals and how they would be managed and accounted for and it is a
14 year abatement but the lease is for 12 years. The job creation goals have state reporting
requirements and the lease concern could be addressed with the applicant. The group
discussed that Sportech is dedicated to this community and felt that they would be able to
fulfill the requirements.
Motion by Magnussen and seconded by Toth to recommend approval of the
Sportech LLC Tax Abatement application to the EDA. Motion carried 6-0.
4.2 COVID Small Business Emergency Loan application for Mystery Chambers
Ms. Eddy presented the staff report and the revised Mystery Chambers loan application.
Motion by Blesener and seconded by Vitzhumto approve the Mystery Chambers
COVID Loan application with the stipulation that the loan agreement(s) are
completed and executed as needed. Motion carried 6-0.
5.1 Announcements
No announcements
6. Adjournment
There being no further business,Mr. Tveite adjourned the meeting at 8:17 a.m.
Minutes prepared by Colleen Eddy.
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Tina Allard
City Clerk
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Cal Portner
EDA Executive Director