05-14-2024 JFC MIN
Special Meeting of the Elk River
Joint Finance Committee
Held at Elk River City Hall
Tuesday, May 14, 2024
Members Present: Lynn Caswell, Charlie Blesener, Ryan Hardin, Jim Gromberg, Chad Vitzthum, Dan
Tveite, Tony Sofio, and Nate Ovall
Members Absent: Rhonda Magnussen
Staff Present: Economic Development Director Brent O’Neil, and Economic Development
Specialist Joshua Mollan
Others Present: Annie Deckert – All Day Companies (virtual)
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 at 7:31 a.m. by Chair Tveite.
2. Consider Agenda
Moved by Gromberg and seconded by Hardin to approve the agenda. Motion carried 8-0.
3. Consent Agenda
Moved by Blesener and seconded by Vitzthum to approve the April 30, 2024, meeting
minutes. Motion carried 8-0.
4.1 Heritage Millwork (HMI) Project and Incentive Applications
Mr. O’Neil presented the staff report.
Chair Tveite asked if there is a proposed interest rate set on the loan.
Brent advised that the program policy states a 3% interest rate.
Hardin asked if adequate funds are available.
Brent advised that there are funds available between multiple funds that have different requirements.
Moved by Blesener and seconded by Gromberg to approve the recommendation of
approving Heritage Millwork’s microloan application to the EDA. Motion carried 7-0. Chad
Vitzthum abstained.
4.2 Open Discussion
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Mr. O’Neil advised the HMI is anticipating groundbreaking on July 1.
Blesener inquired on the former theater property.
Mr. O’Neil advised that Price Homes is utilizing a portion of the building for a showroom and the
other portion is aimed at becoming leasable space.
Ovall asked about if there was any business feedback on the Carson Ct/Ave businesses.
Mr. Mollan shared that the Together Elk River Committee has mobilized multiple efforts to support
those businesses.
5. Motion to Adjourn
Moved by Vitzthum and seconded by Caswell to adjourn the special meeting of the Joint
Finance Committee. Motion carried 8-0.
The meeting adjourned at 7:48 a.m.
Minutes prepared by Joshua Mollan.
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Brent O’Neil
Economic Development Director
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Tina Allard
City Clerk