Economic Development Authority Packet - September 15, 2025
Economic Development Authority
Regular Meeting
Agenda
Monday, September 15, 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 Minutes - August 18, 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 Presentation - Garden Gem Awards
7.2 Levy for Debt Service on YMCA Bonds
7.3 General Updates
8. MOTION TO ADJOURN
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Meeting of the Economic Development
Authority
Held at the Elk River City Hall
Monday, August 18, 2025
Members Present: Vice President Jennifer Wagner, Commissioners Cory Grupa, J. Brian Calva, Jeff
Hartwig, Mike Beyer, and Charlie Blesener
Members Absent: President Matthew Westgaard
Staff Present: Economic Development Director Brent O'Neil, Economic Development Specialist
Joshua Mollan, and City Clerk Tina Allard
1. CALL MEETING TO ORDER
Pursuant to due call and notice thereof, the meeting was called to order at 5:30 p.m.
2. PLEDGE OF ALLEGIANCE
The Pledge of Allegiance was recited.
3. CONSIDER AGENDA
Moved by Commissioner Mike Beyer and seconded by Commissioner J. Brian Calva to
approve the agenda. Motion Carried 6-0.
4. CONSENT AGENDA
Moved by Commissioner Cory Grupa and seconded by Commissioner Jeff Hartwig to
approve the following consent items as outlined in their respective staff reports. Motion
Carried 6-0.
4.1 DRAFT Minutes - July 21, 2025
4.2 Check Register
4.3 Balance Sheet
4.4 Revenue/Expenditure Reports
5. OPEN FORUM
No one appeared for open forum.
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Economic Development Authority Minutes
August 18, 2025
---------
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6. PUBLIC HEARINGS
There were no public hearings.
7. GENERAL BUSINESS
7.1 2026 Budget Resolution
The staff report was presented.
Moved by Commissioner J. Brian Calva and seconded by Commissioner Mike Beyer to
adopt Resolution 25-01 establishing the tax levy for the Economic Development Authority,
adopting the budget for 2026, and recommending $429,850 for inclusion in the 2026
levy. Motion Carried 6-0.
7.2 Committee and General Updates
Beautification Committee
Mr. Mollan stated they have winners in four of the five beautification award categories, noting there
were no nominations for the townhome category. He stated the commercial winner will be brought to
the September meeting with the remaining category winners going to the next Housing and
Redevelopment Authority meeting.
Together Elk River
Mr. Mollan provided an update on the Play campaign.
Development Minute
Mr. Mollan stated three businesses were recently filmed and will be released soon.
EDA Loan
Mr. O'Neil stated the Twin Cities Metalworks (formally Orluck Industries) loan is on the last payment,
which will involve some attorney, interest and late fees. He noted a release of the mortgage will be
scheduled for a future meeting.
Elk Park Center
Mr. O'Neil discussed a call he had with representatives from the Elk Park Center multi-tenant facility
regarding the clients they are looking for and informing them of the assistance city staff can offer.
Commissioner Blesener suggested the Center sell off a smaller space in the parking lot for a restaurant.
Mr. O'Neil noted this was part of the discussion and the Center has indicated they are hoping to fill
current vacant space before searching for tenants at a new building. Commissioner Calva suggested
that a new restaurant could also help attract tenants.
Mr. O'Neil stated staff is looking at creating stronger engagement for manufacturing month in October
and they will have more details at a future meeting.
8. MOTION TO ADJOURN
Moved by Commissioner J. Brian Calva and seconded by Commissioner Charlie Blesener
to adjourn the meeting. Motion Carried 6-0.
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Economic Development Authority Minutes
August 18, 2025
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Page 3 of 3
The meeting adjourned at 5:44 p.m.
Minutes prepared by City Clerk Tina Allard.
_______________
Matt Westgaard, EDA President
___________________
Tina Allard, City Clerk
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CITY OF ELK RIVER
Balance Sheet
August 31, 2025
Fund 920 - EDA
Assets
920-1010 Cash - EDA 2,512,126.77
Total Assets 2,512,126.77
Fund Equity
920-2400 Fund Balance 2,418,623.64
Revenues over Expenditures - YTD 93,503.13
Total Fund Equity 2,512,126.77
Total Liabilities & Equity 2,512,126.77
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CITY OF ELK RIVER
Revenues with Comparison to Budget
For the Months Ending August 31, 2025
Fund 920 - EDA
Period Actual YTD Actual Budget Unexpended PCNT
920-3-0000-3111 Property Taxes 1.67 220,862.92 427,000.00 206,137.08 52%
920-3-0000-3342 Other Local Grants - 1,600.00 - (1,600.00) 0%
920-3-0000-3621 Interest Income 9,401.45 55,337.16 25,000.00 (30,337.16) 221%
920-3-0000-3949 Transfer-HRA - 4,000.00 4,000.00 - 100%
Total Fund Revenue 9,403.12 281,800.08 456,000.00 174,199.92 62%
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CITY OF ELK RIVER
Expenditures with Comparison to Budget
For the Months Ending August 31, 2025
Fund 920 - EDA
Period Actual YTD Actual Budget Unexpended PCNT
920-4-6210-4101 Regular Pay 10,090.09 68,966.80 130,800.00 61,833.20 53%
920-4-6210-4103 Part-time Pay 1,050.00 7,350.00 12,600.00 5,250.00 58%
920-4-6210-4104 PERA 775.20 5,295.97 10,000.00 4,704.03 53%
920-4-6210-4105 FICA 636.48 4,322.33 8,800.00 4,477.67 49%
920-4-6210-4107 Medicare 154.23 1,046.77 2,100.00 1,053.23 50%
920-4-6210-4108 Insurance 1,445.40 11,197.80 25,500.00 14,302.20 44%
920-4-6210-4109 Workers Comp - 399.00 650.00 251.00 61%
920-4-6210-4201 Office Supplies 35.91 191.68 3,000.00 2,808.32 6%
920-4-6210-4212 Fuels & Lubes - - 50.00 50.00 0%
920-4-6210-4304 Legal Fees - - 10,000.00 10,000.00 0%
920-4-6210-4319 Professional Services - - 25,000.00 25,000.00 0%
920-4-6210-4321 Telephone - 330.00 400.00 70.00 83%
920-4-6210-4322 Postage - 0.70 100.00 99.30 1%
920-4-6210-4331 Travel, Conferences & Schools - 4,895.16 11,000.00 6,104.84 45%
920-4-6210-4349 Advertising/Marketing 932.99 13,824.98 73,600.00 59,775.02 19%
920-4-6210-4359 Publishing - 77.40 1,000.00 922.60 8%
920-4-6210-4361 Insurance 27.00 81.00 250.00 169.00 32%
920-4-6210-4404 Software Services - 3,990.33 15,000.00 11,009.67 27%
920-4-6210-4433 Dues & Subscriptions 350.00 15,327.03 4,650.00 (10,677.03) 330%
920-4-6210-4440 Miscellaneous - 3,000.00 73,500.00 70,500.00 4%
920-4-6210-4721 Transfer-General Fund - 48,000.00 48,000.00 - 100%
Total Fund Expenditures 15,497.30 188,296.95 456,000.00 267,703.05 41%
Net Revenue Over Expenditures (6,094.18) 93,503.13 - (93,503.13) 0%
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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
September 15, 2025
Prepared By
Joshua Mollan, Economic Development Specialist
Item Description
Presentation - Garden Gem Awards
Reviewed by
Brent O'Neil
Cal Portner
Action Requested
Recognize the 2025 Commercial Garden Gem Award winner, Plaisted Companies, with a photo and
presentation of the award by President Westgaard.
Background/Discussion
During the inaugural Garden Gem Awards, the Beautification and Public Art Committee received 12
nominations for 10 properties.
In August, the volunteer judging panel visited and scored the participating properties, recommending the
highest scorer in each category. Plaisted Companies earned recognition for commercial properties.
The HRA recognized the winners of the single-family and neighborhood categories at its September meeting.
The winners will be presented with a personalized garden stone and a winner's sign to be temporarily
displayed at the property.
Financial Impact
Program expenses are under $200.
Mission/Policy/Goal
The Garden Gem Awards aim to recognize exceptional gardens and landscaping in Elk River thereby
supporting the beauty of the neighborhood and the community as a whole.
Attachments
None
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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
September 15, 2025
Prepared By
Joshua Mollan, Economic Development Specialist
Item Description
Resolution 25-02: Levy for Debt Service on YMCA
Bonds
Reviewed by
Brent O'Neil
Cal Portner
Action Requested
Approve, by motion, Resolution 25-02 establishing the 2026 referendum tax levy of $518,866 for debt service
on the YMCA facility.
Background/Discussion
In 2007, the EDA issued $12 million in bonds for the construction of a recreational facility to be leased to the
YMCA. In 2013, the EDA issued $9,685,000 crossover refunding bonds to redeem the Series 2007 bonds. The
refunding created interest savings and set the maturity of the bonds for 2033.
Under the lease agreement with the YMCA, the EDA pays two-thirds of the debt service, and the YMCA pays
the remaining one-third. The EDA portion of the scheduled bond payment for 2026 is $494,158. The bond
issuance requirements necessitate funding the annual payments with a coverage ratio of 1.05, or 105% percent
of the bond payment. Therefore, the required levy for the 2026 bond payment is $518,866.
Financial Impact
The required levy for bond payments in 2026 is $518,866.
Mission/Policy/Goal
Support Elk River's existing businesses through relationship building, programmatic offerings, and high-quality
city services.
Attachments
1. EDA RES 25-02 YMCA Resolution
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4
Resolution 25-02
A Resolution of the City of Elk River Economic Development Authority
Establishing the Referendum Tax Levy as Approved by Voters for a
Recreational Facility to be leased to the YMCA
WHEREAS, on September 12, 2006, the voters of the City of Elk River approved a
referendum pledging the City’s full faith, credit, and resources to $12,000,000 of bonds for a
recreational facility to be leased to the YMCA; and
WHEREAS, in 2013, the EDA issued $9,685,000 cross-over refunding bonds to redeem
the Series 2007 Bonds on February 1, 2017.
NOW, THEREFORE, BE IT RESOLVED by the Economic Development Authority
of the City of Elk River, Minnesota, as follows: that it hereby levies a tax of $518,866 for
taxes payable in 2026 for the purposes of funding the debt service on $9,685,000 of bonds as
approved by voters to build a recreational facility to be leased to the YMCA.
Passed and adopted this 15th day of September, 2025.
Matt Westgaard, EDA President
ATTEST:
Brent O’Neil, EDA Executive Director
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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
September 15, 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 commercial and industrial development in Elk River.
Attachments
None
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