EDA Packet for March 17, 2025
Economic Development Authority
Regular Meeting
Agenda
Monday, March 17, 2025
5:30 PM
Elk River City Hall
▪ Regular meeting in Council Chambers
1. CALL MEETING TO ORDER
2. PLEDGE OF ALLEGIANCE
3. CONSIDER AGENDA
4. CONSENT AGENDA
Considered to be routine and noncontroversial and will be approved by one motion. There will be no separate discussion of
these items unless there is a request to remove the item from the consent agenda to the regular agenda.
4.1 Draft EDA Minutes from 01-21-2025
4.2 Check Register
4.3 Balance Sheet
4.4 Revenue/Expenditure Reports
5. OPEN FORUM
An opportunity to provide comments and feedback regarding items not on the agenda. Information provided in Open Forum
will not be discussed at this meeting; rather, the information will be referred to staff and/or scheduled for discussion at a
future meeting.
6. PUBLIC HEARINGS
An opportunity for the public to express their opinions and raise questions pertaining to the agenda item. All comments
become part of the official public record. For this reason, all comments must be made at the podium so they can be heard
and recorded. Comments may also be provided in writing. There will not be deliberations, discussions, or answers to
questions until the hearing is closed. It is important to be courteous and allow each presenter to comment before adding
additional testimony.
7. GENERAL BUSINESS
Items in which the information is presented by city staff or consultants, then deliberation and action occur. General Business
items are not opportunities to receive or provide public input. However, the presiding officer may, at its sole discretion,
solicit public feedback.
7.1 Consent of Sale of Fox Haven Properties to Kwik Trip
7.2 Committee Updates
7.3 General Updates
8. MOTION TO ADJOURN REGULAR MEETING
Page 1 of 26
Meeting of the Economic Development
Authority
Held at the Elk River City Hall
Tuesday, January 21, 2025
Members Present: President Matt Westgaard, Commissioners Cory Grupa, J. Brian Calva, Mike
Beyer, Jennifer Wagner, and Charlie Blesener
Members Absent: Commissioner Jeff Hartwig
Staff Present: Economic Development Director Brent O'Neil, Economic Development Specialist
Joshua Mollan, and Recording Secretary Katie Porath
1.CALL MEETING TO ORDER
Pursuant to due call and notice thereof, the meeting was called to order at 5:32 p.m. by Acting
President Beyer.
2.PLEDGE OF ALLEGIANCE
The Pledge of Allegiance was recited.
3.CONSIDER AGENDA
Moved by Commissioner Matt Westgaard and seconded by Commissioner Jennifer
Wagner to approve the agenda. Motion carried 6-0.
4.CONSENT AGENDA
Moved by Commissioner Cory Grupa and seconded by Commissioner Matt Westgaard to
approve the following consent items as outlined in their respective staff reports. Motion
carried 6-0.
4.1 Draft EDA Minutes - December 16, 2024
4.2 Check Register
4.3 Balance Sheet
4.4 Revenue/Expenditure Reports
4.5 2025 Meeting Schedule
5.OPEN FORUM DRAFTPage 2 of 26
Economic Development Authority Minutes
January 21, 2025
---------
Page 2 of 4
No one appeared for Open Forum.
6. PUBLIC HEARINGS
There were no public hearings.
7. GENERAL BUSINESS
7.1 Annual Election of Officers
The staff report was presented.
Moved by Commissioner Mike Beyer and seconded by Commissioner Jennifer Wagner to
nominate Jennifer Wagner as EDA Vice President for 2025. Motion carried 6-0.
Moved by Commissioner Cory Grupa and seconded by Commissioner Jennifer Wagner to
nominate Jeff Hartwig as EDA Treasurer for 2025. Motion carried 6-0.
Moved by Commissioner Jennifer Wagner and seconded by Commissioner Mike Beyer to
nominate Matt Westgaard as EDA President for 2025. Motion carried 6-0.
7.2 Committee Appointments
The staff report was presented.
Moved by Commissioner Cory Grupa and seconded by Commissioner J. Brian Calva to
designate Charlie Blesener and Matt Westgaard to the EDA-HRA Joint Finance
Committee for 2025. Motion carried 6-0.
Moved by Commissioner Matt Westgaard and seconded by Commissioner Mike Beyer to
designate Jennifer Wagner and Charlie Blesener to the Together Elk River Committee for
2025. Motion carried 6-0.
Moved by Commissioner Charlie Blesener and seconded by Commissioner Jennifer
Wagner to designate J. Brian Calva and Cory Grupa to the Beautification and Public Art
Committee for 2025. Motion carried 6-0.
7.3 Designation of Official Depository
The staff report was presented.
Moved by Commissioner Charlie Blesener and seconded by Commissioner Jennifer
Wagner to designate The Bank of Elk River as the official depository for the EDA for 2025
and 2026. Motion carried 6-0.
7.4 Annual Review of Bylaws and Enabling Resolution
The staff report was presented.
Moved by Commissioner Charlie Blesener and seconded by Commissioner Mike Beyer to DRAFTPage 3 of 26
Economic Development Authority Minutes
January 21, 2025
---------
Page 3 of 4
approve the EDA enabling resolution as outlined in the staff report. Motion carried 6-0.
7.5 Extension to the Real Estate Listing Agreement with Hardin Companies
The staff report was presented.
Moved by Commissioner J. Brian Calva and seconded by Commissioner Jennifer Wagner
to approve a one-year extension to the Real Estate Listing Agreement with Hardin
Companies. Motion carried 6-0.
7.6 General Updates
The staff report was presented.
Mr. O'Neil gave an update on the property for sale located at 17610 Tyler St NW. The Commission
may want to consider dividing the property into smaller lots if they aren't able to sell the large lot. They
may also want to consider taking care of some of the needed utility work and access to make it more
appealing.
President Westgaard asked if it would be possible to add the north portion of the site to the business
district and keep the southern portion as industrial park. Mr. O'Neil will look into whether this would
be possible.
Mr. O'Neil stated he is working with some local companies on potential expansion plans and the next
couple EDA meetings may have tax abatement information on those projects. He is also considering
how to move forward on destination marketing which had $10,000 budgeted for 2025.
Commissioner Blesener asked if there was any progress on a hotel coming to Elk River. Mr. O'Neil
responded that they have been working with a group over the past year and will start to expand the
conversation to other groups.
Mr. Mollan gave an update on the Development Minute and Open for Business segments recently filmed
or upcoming. He also gave an update on website traffic.
The commission should plan on having a new group photo prior to the February EDA meeting.
Commissioner Calva asked about the report that listed website traffic from other countries. Mr. O'Neil
stated it could be legitimate or it could be spam.
8. MOTION TO ADJOURN REGULAR MEETING
Moved by Commissioner J. Brian Calva and seconded by Commissioner Mike Beyer to
adjourn the meeting. Motion carried 6-0.
The meeting adjourned at 6:02 p.m.
Minutes prepared by Katie Porath.
DRAFTPage 4 of 26
Economic Development Authority Minutes
January 21, 2025
---------
Page 4 of 4
___________________
Matt Westgaard, EDA President
___________________
Tina Allard, City Clerk
DRAFTPage 5 of 26
CITY OF ELK RIVER Unpaid Invoice Report - EDA Page: 1
Posting period: 02/25 Feb 13, 2025 04:02PM
Report Criteria:
Invoice Detail.GL account = {>=} "920"
Invoice Sequence Description Type Invoice Due Invoice Net Invoice GL Account
Number Number Date Date Amount Check Amount Number
CITY OF ELK RIVER
920
EDA 01-2025 1 REIMB EDA SALARIES - JAN 2025 Invoice 02/12/2025 02/18/2025 14,776.75 14,776.75 920-4-6210-4101
EDA 01-2025 2 REIMB EDA SALARIES - JAN 2025 Invoice 02/12/2025 02/18/2025 1,200.00 1,200.00 920-4-6210-4103
EDA 01-2025 3 REIMB EDA SALARIES - JAN 2025 Invoice 02/12/2025 02/18/2025 1,123.25 1,123.25 920-4-6210-4104
EDA 01-2025 4 REIMB EDA SALARIES - JAN 2025 Invoice 02/12/2025 02/18/2025 881.52 881.52 920-4-6210-4105
EDA 01-2025 5 REIMB EDA SALARIES - JAN 2025 Invoice 02/12/2025 02/18/2025 210.53 210.53 920-4-6210-4107
EDA 01-2025 6 REIMB EDA SALARIES - JAN 2025 Invoice 02/12/2025 02/18/2025 2,525.40 2,525.40 920-4-6210-4108
EDA 01-2025 7 EDA REIMB - SUPPLIES/AMAZON Invoice 02/12/2025 02/18/2025 5.99 5.99 920-4-6210-4201
EDA 12-31-2024 1 EDA REIMB - SUPPLIES/AMAZON Invoice 12/31/2024 02/18/2025 19.99 19.99 920-4-6210-4201
EDA 01-2025 8 EDA REIMB - CITIZENSERVE LICENS Invoice 02/12/2025 02/18/2025 3,600.00 3,600.00 920-4-6210-4404
EDA 12-31-2024 2 EDA REIMB - 2024 SIGN SUPPLIES Invoice 12/31/2024 02/18/2025 79.82 79.82 920-4-6210-4440
Total 17440 CITY OF ELK RIVER: 24,423.25 24,423.25
Total 920: 24,423.25 24,423.25
923
EDA 12-31-2024 3 EHLERS CONT DISCLOSURE - YMCA Invoice 12/31/2024 02/18/2025 440.00 440.00 923-4-7000-4319
Total 17440 CITY OF ELK RIVER: 440.00 440.00
Total 923: 440.00 440.00
JOSHUA MOLLAN
920
1302025 1 REIMB PARKING MOLLAN Invoice 01/30/2025 02/28/2025 16.00 16.00 920-4-6210-4331
21225 1 REIMB MILEAGE MOLLAN Invoice 02/13/2025 02/13/2025 29.33 29.33 920-4-6210-4331
Total 14730 JOSHUA MOLLAN: 45.33 45.33
Total 920: 45.33 45.33
J P COOKE CO
920
870769 1 SIGNATURE STAMP - WESTGAARD/E Invoice 02/06/2025 03/08/2025 52.95 52.95 920-4-6210-4201
Total 15025 J P COOKE CO: 52.95 52.95
Total 920: 52.95 52.95
Total : 24,961.53 24,961.53
Grand Totals: 24,961.53 24,961.53
Summary by General Ledger Account Number
Page 6 of 26
CITY OF ELK RIVER Unpaid Invoice Report - EDA Page: 2
Posting period: 02/25 Feb 13, 2025 04:02PM
GL Account Number Debit Credit Net
920-4-6210-4101 14,776.75 .00 14,776.75
920-4-6210-4103 1,200.00 .00 1,200.00
920-4-6210-4104 1,123.25 .00 1,123.25
920-4-6210-4105 881.52 .00 881.52
920-4-6210-4107 210.53 .00 210.53
920-4-6210-4108 2,525.40 .00 2,525.40
920-4-6210-4201 78.93 .00 78.93
920-4-6210-4331 45.33 .00 45.33
920-4-6210-4404 3,600.00 .00 3,600.00
920-4-6210-4440 79.82 .00 79.82
923-4-7000-4319 440.00 .00 440.00
Grand Totals: 24,961.53 .00 24,961.53
Summary by General Ledger Posting Period
GL Posting Period Debit Credit Net
12/24 539.81 .00 539.81
02/25 24,421.72 .00 24,421.72
Grand Totals:
24,961.53 .00 24,961.53
Report Criteria:
Invoice Detail.GL account = {>=} "920"
Page 7 of 26
CITY OF ELK RIVER Unpaid Invoice Report - EDA Page: 1
Report dates: ALL-ALL Mar 13, 2025 01:17PM
Report Criteria:
Invoice Detail.GL account = {>=} "920"
Invoice Sequence Description Type Invoice Due Invoice Net Invoice GL Account
Number Number Date Date Amount Check Amount Number
CITY OF ELK RIVER
920
2-2025 EDA 1 EDA SALARIES - FEB 25 Invoice 03/12/2025 03/17/2025 9,979.10 9,979.10 920-4-6210-4101
2-2025 EDA 2 EDA SALARIES - FEB 25 Invoice 03/12/2025 03/17/2025 900.00 900.00 920-4-6210-4103
2-2025 EDA 3 EDA SALARIES - FEB 25 Invoice 03/12/2025 03/17/2025 763.43 763.43 920-4-6210-4104
2-2025 EDA 4 EDA SALARIES - FEB 25 Invoice 03/12/2025 03/17/2025 635.79 635.79 920-4-6210-4105
2-2025 EDA 5 EDA SALARIES - FEB 25 Invoice 03/12/2025 03/17/2025 153.04 153.04 920-4-6210-4107
2-2025 EDA 6 EDA SALARIES - FEB 25 Invoice 03/12/2025 03/17/2025 1,445.40 1,445.40 920-4-6210-4108
2-2025 EDA 7 EDA REIMB - WC JAN/MAR Invoice 03/12/2025 03/17/2025 133.00 133.00 920-4-6210-4109
2-2025 EDA 8 EDA REIMB - SUPPLIES/STAPLES Invoice 03/12/2025 03/17/2025 14.99 14.99 920-4-6210-4201
2-2025 EDA 9 EDA REIMB - INS JAN/MAR Invoice 03/12/2025 03/17/2025 27.00 27.00 920-4-6210-4361
Total 17440 CITY OF ELK RIVER: 14,051.75 14,051.75
Total 920: 14,051.75 14,051.75
E D A M
920
636 1 2025 WINTER CONFERENCE O'NEIL Invoice 01/02/2025 03/01/2025 395.00 395.00 920-4-6210-4331
695 1 2025 WINTER CONFERENCE - MOLL Invoice 01/08/2025 02/06/2025 395.00 395.00 920-4-6210-4331
Total 17025 E D A M: 790.00 790.00
Total 920: 790.00 790.00
EHLERS & ASSOCIATES
920
2025 Public Finance 1 2025 PUBLIC FINANCE SEMINAR - O' Invoice 02/19/2025 02/19/2025 250.00 250.00 920-4-6210-4331
2192025 JM 1 2025 PUBLIC FINANCE SEMINAR - M Invoice 02/19/2025 03/19/2025 250.00 250.00 920-4-6210-4331
Total 17287 EHLERS & ASSOCIATES: 500.00 500.00
Total 920: 500.00 500.00
PROFESSIONAL SPORTS PUBLI
920
250026865 1 TWINS YEARBOOK 2025 Invoice 02/28/2025 02/28/2025 2,500.00 2,500.00 920-4-6210-4349
Total 13157 PROFESSIONAL SPORTS PUBLI: 2,500.00 2,500.00
Total 920: 2,500.00 2,500.00
BRENT O'NEIL
920
12425 ONEIL 1 REIMB MILEAGE & PARKING - 1/23-2 Invoice 02/13/2025 04/30/2025 118.16 118.16 920-4-6210-4331
20525 ONEIL 1 REIMB MILEAGE 2/5/25 O'NEIL Invoice 02/13/2025 04/30/2025 42.00 42.00 920-4-6210-4331
20725 ONEIL 1 REIMB MILEAGE 2/6-2/7 O'NEIL Invoice 02/13/2025 04/30/2025 56.28 56.28 920-4-6210-4331
Total 14600 BRENT O'NEIL: 216.44 216.44
Total 920: 216.44 216.44
Page 8 of 26
CITY OF ELK RIVER Unpaid Invoice Report - EDA Page: 2
Report dates: ALL-ALL Mar 13, 2025 01:17PM
Invoice Sequence Description Type Invoice Due Invoice Net Invoice GL Account
Number Number Date Date Amount Check Amount Number
ELK RIVER AREA CHAMBER OF COMMERCE
920
16903 1 ANNUAL SUBSCRIPTION-GROW MN Invoice 02/19/2025 03/06/2025 500.00 500.00 920-4-6210-4433
Total 17355 ELK RIVER AREA CHAMBER OF COMMERCE: 500.00 500.00
Total 920: 500.00 500.00
Total : 18,558.19 18,558.19
Grand Totals: 18,558.19 18,558.19
Summary by General Ledger Account Number
GL Account Number Debit Credit Net
920-4-6210-4101 9,979.10 .00 9,979.10
920-4-6210-4103 900.00 .00 900.00
920-4-6210-4104 763.43 .00 763.43
920-4-6210-4105 635.79 .00 635.79
920-4-6210-4107 153.04 .00 153.04
920-4-6210-4108 1,445.40 .00 1,445.40
920-4-6210-4109 133.00 .00 133.00
920-4-6210-4201 14.99 .00 14.99
920-4-6210-4331 1,506.44 .00 1,506.44
920-4-6210-4349 2,500.00 .00 2,500.00
920-4-6210-4361 27.00 .00 27.00
920-4-6210-4433 500.00 .00 500.00
Grand Totals: 18,558.19 .00 18,558.19
Summary by General Ledger Posting Period
GL Posting Period Debit Credit Net
00/00 18,558.19 .00 18,558.19
Grand Totals:
18,558.19 .00 18,558.19
Report Criteria:
Invoice Detail.GL account = {>=} "920"
Page 9 of 26
CITY OF ELK RIVER Check Register - By Bank Page: 1
Check Issue Dates: 10/8/2024 - 1/8/2025 Feb 26, 2025 10:50AM
Report Criteria:
Report type: Invoice detail
Vendor.Vendor number = 35099
Check.Type = {<>} "Adjustment"
Bank.Bank number = 2
GL Check Check Vendor Invoice Invoice Discount Invoice Check Bank Number
Period Issue Date Number Number Payee Number GL Account Taken Amount Amount
998010825
01/25 01/08/2025 998010825 35099 US BANK 12262024 ED 920-4-6210-4349 .00 417.57 417.57 2
Total 998010825: .00 417.57
998100824
10/24 10/08/2024 998100824 35099 US BANK 9-25-2024 ED 920-4-6210-4201 .00 781.25 781.25 2
Total 998100824: .00 781.25
998110824
11/24 11/08/2024 998110824 35099 US BANK 10252024 ED 920-4-6210-4349 .00 401.03 401.03 2
Total 998110824: .00 401.03
998120624
12/24 12/06/2024 998120624 35099 US BANK 11252024 EDA 920-4-6210-4433 .00 631.90 631.90 2
Total 998120624: .00 631.90
Grand Totals: .00 2,231.75
Summary by General Ledger Account Number
GL Account Debit Credit Proof
920-2020 .00 2,231.75- 2,231.75-
920-4-6210-4201 13.99 .00 13.99
920-4-6210-4331 645.80 .00 645.80
920-4-6210-4349 927.60 .00 927.60
920-4-6210-4404 341.41 .00 341.41
M = Manual Check, V = Void Check
Page 10 of 26
CITY OF ELK RIVER Check Register - By Bank Page: 2
Check Issue Dates: 10/8/2024 - 1/8/2025 Feb 26, 2025 10:50AM
GL Account Debit Credit Proof
920-4-6210-4433 260.00 .00 260.00
920-4-6210-4440 42.95 .00 42.95
Grand Totals: 2,231.75 2,231.75- .00
Dated: ______________________________________________________
Mayor: ______________________________________________________
City Council: ______________________________________________________
______________________________________________________
______________________________________________________
______________________________________________________
______________________________________________________
______________________________________________________
City Recorder: _____________________________________________________
Report Criteria:
Report type: Invoice detail
Vendor.Vendor number = 35099
Check.Type = {<>} "Adjustment"
Bank.Bank number = 2
M = Manual Check, V = Void Check
Page 11 of 26
CITY OF ELK RIVER
BALANCE SHEET
JANUARY 31, 2025
FUND 920 - EDA
ASSETS
920-1010 CASH - EDA 2,424,015.81
TOTAL ASSETS
2,424,015.81
LIABILITIES AND EQUITY
LIABILITIES
920-2020 A/P - EDA 99.81
TOTAL LIABILITIES
99.81
FUND EQUITY
920-2400 FUND BALANCE 2,412,889.00
REVENUES OVER EXPENDITURES - YTD 11,027.00
TOTAL FUND EQUITY 2,423,916.00
TOTAL LIABILITIES & EQUITY 2,424,015.81
Page 12 of 26
CITY OF ELK RIVER
BALANCE SHEET
JANUARY 31, 2025
FUND 923 - YMCA DEBT SERVICE
ASSETS
923-1010 CASH - YMCA DEBT SERVICE 316,780.17
TOTAL ASSETS
316,780.17
LIABILITIES AND EQUITY
LIABILITIES
923-2020 A/P - YMCA DEBT SERVICE 440.00
TOTAL LIABILITIES
440.00
FUND EQUITY
923-2400 FUND BALANCE 749,513.75
REVENUES OVER EXPENDITURES - YTD ( 433,173.58)
TOTAL FUND EQUITY 316,340.17
TOTAL LIABILITIES & EQUITY 316,780.17
Page 13 of 26
CITY OF ELK RIVER
BALANCE SHEET
FEBRUARY 28, 2025
FUND 920 - EDA
ASSETS
920-1010 CASH - EDA 2,399,514.75
TOTAL ASSETS
2,399,514.75
LIABILITIES AND EQUITY
FUND EQUITY
920-2400 FUND BALANCE 2,412,889.00
REVENUES OVER EXPENDITURES - YTD ( 13,374.25)
TOTAL FUND EQUITY 2,399,514.75
TOTAL LIABILITIES & EQUITY 2,399,514.75
Page 14 of 26
CITY OF ELK RIVER
BALANCE SHEET
FEBRUARY 28, 2025
FUND 923 - YMCA DEBT SERVICE
ASSETS
923-1010 CASH - YMCA DEBT SERVICE 316,340.17
TOTAL ASSETS
316,340.17
LIABILITIES AND EQUITY
FUND EQUITY
923-2400 FUND BALANCE 749,513.75
REVENUES OVER EXPENDITURES - YTD ( 433,173.58)
TOTAL FUND EQUITY 316,340.17
TOTAL LIABILITIES & EQUITY 316,340.17
Page 15 of 26
CITY OF ELK RIVER
REVENUES WITH COMPARISON TO BUDGET
FOR THE 1 MONTHS ENDING JANUARY 31, 2025
EDA
PERIOD ACTUAL YTD ACTUAL BUDGET UNEARNED PCNT
FOR ADMINISTRATION USE ONLY 8 % OF THE FISCAL YEAR HAS ELAPSED 03/13/2025 01:39PM PAGE: 1
DEPARTMENT 0000
920-3-0000-3111 PROPERTY TAXES 8,288.33 8,288.33 .00 ( 8,288.33) .0
920-3-0000-3342 OTHER LOCAL GRANTS 1,600.00 1,600.00 .00 ( 1,600.00) .0
920-3-0000-3621 INTEREST INCOME 8,026.07 8,026.07 .00 ( 8,026.07) .0
TOTAL DEPARTMENT 0000 17,914.40 17,914.40 .00 ( 17,914.40) .0
TOTAL FUND REVENUE 17,914.40 17,914.40 .00 ( 17,914.40) .0
Page 16 of 26
CITY OF ELK RIVER
EXPENDITURES WITH COMPARISON TO BUDGET
FOR THE 1 MONTHS ENDING JANUARY 31, 2025
EDA
PERIOD ACTUAL YTD ACTUAL BUDGET UNEXPENDED PCNT
FOR ADMINISTRATION USE ONLY 8 % OF THE FISCAL YEAR HAS ELAPSED 03/13/2025 01:39PM PAGE: 2
ECONOMIC DEVELOPMENT
920-4-6210-4359 PUBLISHING 77.40 77.40 .00 ( 77.40) .0
920-4-6210-4433 DUES & SUBSCRIPTIONS 3,810.00 3,810.00 .00 ( 3,810.00) .0
920-4-6210-4440 MISCELLANEOUS 3,000.00 3,000.00 .00 ( 3,000.00) .0
TOTAL ECONOMIC DEVELOPMENT 6,887.40 6,887.40 .00 ( 6,887.40) .0
TOTAL FUND EXPENDITURES 6,887.40 6,887.40 .00 ( 6,887.40) .0
NET REVENUE OVER EXPENDITURES 11,027.00 11,027.00 .00 ( 11,027.00) .0
Page 17 of 26
CITY OF ELK RIVER
REVENUES WITH COMPARISON TO BUDGET
FOR THE 1 MONTHS ENDING JANUARY 31, 2025
YMCA DEBT SERVICE
PERIOD ACTUAL YTD ACTUAL BUDGET UNEXPENDED PCNT
FOR ADMINISTRATION USE ONLY 8 % OF THE FISCAL YEAR HAS ELAPSED 03/13/2025 01:39PM PAGE: 3
DEPARTMENT 0000
923-3-0000-3111 PROPERTY TAXES 8,305.01 8,305.01 .00 ( 8,305.01) .0
923-3-0000-3621 INTEREST INCOME 1,900.58 1,900.58 .00 ( 1,900.58) .0
923-3-0000-3626 CONTRIBUTIONS 221,689.58 221,689.58 .00 ( 221,689.58) .0
TOTAL DEPARTMENT 0000 231,895.17 231,895.17 .00 ( 231,895.17) .0
TOTAL FUND REVENUE 231,895.17 231,895.17 .00 ( 231,895.17) .0
Page 18 of 26
CITY OF ELK RIVER
EXPENDITURES WITH COMPARISON TO BUDGET
FOR THE 1 MONTHS ENDING JANUARY 31, 2025
YMCA DEBT SERVICE
PERIOD ACTUAL YTD ACTUAL BUDGET UNEXPENDED PCNT
FOR ADMINISTRATION USE ONLY 8 % OF THE FISCAL YEAR HAS ELAPSED 03/13/2025 01:39PM PAGE: 4
DEBT SERVICE
923-4-7000-4601 PRINCIPAL 590,000.00 590,000.00 .00 ( 590,000.00) .0
923-4-7000-4611 INTEREST 75,068.75 75,068.75 .00 ( 75,068.75) .0
TOTAL DEBT SERVICE 665,068.75 665,068.75 .00 ( 665,068.75) .0
TOTAL FUND EXPENDITURES 665,068.75 665,068.75 .00 ( 665,068.75) .0
NET REVENUE OVER EXPENDITURES ( 433,173.58) ( 433,173.58) .00 433,173.58 .0
Page 19 of 26
CITY OF ELK RIVER
REVENUES WITH COMPARISON TO BUDGET
FOR THE 2 MONTHS ENDING FEBRUARY 28, 2025
EDA
PERIOD ACTUAL YTD ACTUAL BUDGET UNEARNED PCNT
FOR ADMINISTRATION USE ONLY 16 % OF THE FISCAL YEAR HAS ELAPSED 03/13/2025 01:37PM PAGE: 1
DEPARTMENT 0000
920-3-0000-3111 PROPERTY TAXES .00 8,288.33 .00 ( 8,288.33) .0
920-3-0000-3342 OTHER LOCAL GRANTS .00 1,600.00 .00 ( 1,600.00) .0
920-3-0000-3621 INTEREST INCOME .00 8,026.07 .00 ( 8,026.07) .0
TOTAL DEPARTMENT 0000 .00 17,914.40 .00 ( 17,914.40) .0
TOTAL FUND REVENUE .00 17,914.40 .00 ( 17,914.40) .0
Page 20 of 26
CITY OF ELK RIVER
EXPENDITURES WITH COMPARISON TO BUDGET
FOR THE 2 MONTHS ENDING FEBRUARY 28, 2025
EDA
PERIOD ACTUAL YTD ACTUAL BUDGET UNEXPENDED PCNT
FOR ADMINISTRATION USE ONLY 16 % OF THE FISCAL YEAR HAS ELAPSED 03/13/2025 01:37PM PAGE: 2
ECONOMIC DEVELOPMENT
920-4-6210-4101 REGULAR PAY 14,776.75 14,776.75 .00 ( 14,776.75) .0
920-4-6210-4103 PART-TIME PAY 1,200.00 1,200.00 .00 ( 1,200.00) .0
920-4-6210-4104 PERA 1,123.25 1,123.25 .00 ( 1,123.25) .0
920-4-6210-4105 FICA 881.52 881.52 .00 ( 881.52) .0
920-4-6210-4107 MEDICARE 210.53 210.53 .00 ( 210.53) .0
920-4-6210-4108 INSURANCE 2,525.40 2,525.40 .00 ( 2,525.40) .0
920-4-6210-4201 OFFICE SUPPLIES 58.94 58.94 .00 ( 58.94) .0
920-4-6210-4331 TRAVEL, CONFERENCES & SCHOOLS 45.33 45.33 .00 ( 45.33) .0
920-4-6210-4359 PUBLISHING .00 77.40 .00 ( 77.40) .0
920-4-6210-4404 SOFTWARE SERVICES 3,600.00 3,600.00 .00 ( 3,600.00) .0
920-4-6210-4433 DUES & SUBSCRIPTIONS ( 20.47) 3,789.53 .00 ( 3,789.53) .0
920-4-6210-4440 MISCELLANEOUS .00 3,000.00 .00 ( 3,000.00) .0
TOTAL ECONOMIC DEVELOPMENT 24,401.25 31,288.65 .00 ( 31,288.65) .0
TOTAL FUND EXPENDITURES 24,401.25 31,288.65 .00 ( 31,288.65) .0
NET REVENUE OVER EXPENDITURES ( 24,401.25) ( 13,374.25) .00 13,374.25 .0
Page 21 of 26
CITY OF ELK RIVER
REVENUES WITH COMPARISON TO BUDGET
FOR THE 2 MONTHS ENDING FEBRUARY 28, 2025
YMCA DEBT SERVICE
PERIOD ACTUAL YTD ACTUAL BUDGET UNEXPENDED PCNT
FOR ADMINISTRATION USE ONLY 16 % OF THE FISCAL YEAR HAS ELAPSED 03/13/2025 01:37PM PAGE: 3
DEPARTMENT 0000
923-3-0000-3111 PROPERTY TAXES .00 8,305.01 .00 ( 8,305.01) .0
923-3-0000-3621 INTEREST INCOME .00 1,900.58 .00 ( 1,900.58) .0
923-3-0000-3626 CONTRIBUTIONS .00 221,689.58 .00 ( 221,689.58) .0
TOTAL DEPARTMENT 0000 .00 231,895.17 .00 ( 231,895.17) .0
TOTAL FUND REVENUE .00 231,895.17 .00 ( 231,895.17) .0
Page 22 of 26
CITY OF ELK RIVER
EXPENDITURES WITH COMPARISON TO BUDGET
FOR THE 2 MONTHS ENDING FEBRUARY 28, 2025
YMCA DEBT SERVICE
PERIOD ACTUAL YTD ACTUAL BUDGET UNEXPENDED PCNT
FOR ADMINISTRATION USE ONLY 16 % OF THE FISCAL YEAR HAS ELAPSED 03/13/2025 01:37PM PAGE: 4
DEBT SERVICE
923-4-7000-4601 PRINCIPAL .00 590,000.00 .00 ( 590,000.00) .0
923-4-7000-4611 INTEREST .00 75,068.75 .00 ( 75,068.75) .0
TOTAL DEBT SERVICE .00 665,068.75 .00 ( 665,068.75) .0
TOTAL FUND EXPENDITURES .00 665,068.75 .00 ( 665,068.75) .0
NET REVENUE OVER EXPENDITURES .00 ( 433,173.58) .00 433,173.58 .0
Page 23 of 26
The Elk River Vision
A welcoming community with revolutionary and spirited resourcefulness, exceptional service, and community
engagement that encourages and inspires prosperity
Request for Action
To
Economic Development Authority
Item Number
7.1
Meeting Date
March 17, 2025
Prepared By
Brent O'Neil, Economic Development Director
Item Description
Consent of Sale of Fox Haven Properties to Kwik
Trip
Reviewed by
Cal Portner
Action Requested
Consent, by motion, to the transfer of property between Java Elk River Retail, LLC and Kwik Trip, Inc.
Background/Discussion
Java Elk River Retail, LLC purchased the Fox Haven parcels from the EDA in late 2024, intending to hold the
properties until Kwik Trip completed its due diligence and was ready to take possession of the properties for
its gas station and convenience store.
To ensure full compliance with the purchase agreement and state statute governing EDA property, Java has
requested the EDA consent to its sale of property to Kwik Trip. We will provide a letter to Java verifying the
board's action.
Financial Impact
N/A
Mission/Policy/Goal
Support commercial development.
Attachments
None
Page 24 of 26
The Elk River Vision
A welcoming community with revolutionary and spirited resourcefulness, exceptional service, and community
engagement that encourages and inspires prosperity
Request for Action
To
Economic Development Authority
Item Number
7.2
Meeting Date
March 17, 2025
Prepared By
Joshua Mollan, Economic Development Specialist
Item Description
Committee Updates
Reviewed by
Brent O'Neil
Cal Portner
Action Requested
This item is presented for information and discussion purposes.
Background/Discussion
Staff will provide updates on activities of the Together Elk River Committee and the Beautification and Public
Art Committee.
Financial Impact
N/A
Mission/Policy/Goal
Attract new business development to Elk River to build the city’s economic vibrancy, job offerings and tax
base.
Support the curation of public art in the community.
Attachments
None
Page 25 of 26
The Elk River Vision
A welcoming community with revolutionary and spirited resourcefulness, exceptional service, and community
engagement that encourages and inspires prosperity
Request for Action
To
Economic Development Authority
Item Number
7.3
Meeting Date
March 17, 2025
Prepared By
Joshua Mollan, Economic Development Specialist
Item Description
General Updates
Reviewed by
Brent O'Neil
Cal Portner
Action Requested
This item is presented for information and discussion purposes.
Background/Discussion
This item is an opportunity to discuss relevant topics and other non-action items of the board.
Financial Impact
N/A
Mission/Policy/Goal
Support the growth and development of the community.
Attachments
None
Page 26 of 26