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Economic Development Authority Packet - November 17, 2025 Economic Development Authority Regular Meeting & Closed Meeting Agenda Monday, November 17, 2025 5:30 PM Elk River City Hall ▪ Regular meeting in Council Chambers ▪ Closed meeting in Upper Town Conference Room immediately following regular meeting 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 - October 20, 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 - Beautification Award Winner 7.2 Twin City Metal Works Loan Maturity and Payoff 8. OPEN DISCUSSION This section is reserved for the board and staff to discuss relevant topics, updates, and other non-action items of the board. 9. MOTION TO ADJOURN REGULAR MEETING 10. CLOSED MEETING - PID #75-00757-0105 - 17610 TYLER ST. NW Page 1 of 21 The Elk River Vision A welcoming community with revolutionary and spirited resourcefulness, exceptional service, and community engagement that encourages and inspires prosperity 10.1 Statement to be read by the Chair: "The Economic Development Authority will be closing the meeting pursuant to MN Statute Section 13D.05, Subdivision 3(c)(1) to consider offers or counteroffers relating to the sale of PID 75-00757-0105, 17610 Tyler ST. NW." 10.2 Motion Calling Closed Meeting 10.3 Hold Closed Meeting 10.4 Motion to Adjourn Closed Meeting Page 2 of 21 Meeting of the Economic Development Authority Held at the Elk River City Hall Monday, October 20, 2025 Members Present: President Matt Westgaard, Councilmember Mike Beyer, Councilmember Cory Grupa, Councilmember Jennifer Wagner, Commissioner Jeff Hartwig, Councilmember J. Brian Calva, Commissioner Charlie Blesener (arrived at 5:33 p.m.) Members Absent: None Staff Present: Economic Development Specialist Joshua Mollan, Records Specialist Dawn Robertson, and Recording Secretary Jolene Richter 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 Commissioner J. Brian Calva and seconded by Commissioner Cory Grupa to approve the agenda. Motion Carried 6-0. 4. CONSENT AGENDA Moved by Commissioner Mike Beyer and seconded by Commissioner Jennifer Wagner to approve the following consent items as outlined in their respective staff reports. Motion Carried 6-0. 4.1 DRAFT Minutes - September 15, 2025 4.2 Check Register 4.3 Balance Sheet 4.4 Revenue/Expenditure Reports 5. OPEN FORUM Page 3 of 21 Economic Development Authority Minutes October 20, 2025 --------- Page 2 of 3 No one appeared for open forum. 6. PUBLIC HEARINGS There were no public hearings. 7. GENERAL BUSINESS 7.1 Beautification Award Recommendation The staff report was presented. The committee recommends the Elk River Area Chamber for the 2025 Beautification Award. Moved by Commissioner J. Brian Calva and seconded by Commissioner Mike Beyer to approve the 2025 Beautification Award winner as recommended by the Beautification and Public Art Committee. Motion Carried 7-0. 8. OPEN DISCUSSION Mr. Mollan provided the following updates: ▪ The Cool Jobs Tours is this Thursday, October 23, 4:00 p.m. to 7:30 p.m. They will be touring Sportech, Alliance Machine, Timron, and Metal Craft. Both Mr. O'Neil and Mr. Mollan will attend to assist with the tour. ▪ The Garden Gem Awards: all 4 have been awarded. They made the front cover of the Star News. They are also working on a subpage on the Economic Development website for photos. They went with an engraved 9" garden stone for the winners. ▪ The Development Minute for J and J has been posted. They also just made one for Timron, so that will be out soon, and then MC's Pub will be next. ▪ Open for Business Reels: They just completed the Chamber, so that will be out soon, then they will go out to Pickle Paradise and Price Homes. ▪ The first week in November, Mr. O'Neil and Mr. Mollan will attend the MN Realtors Expo in Minneapolis. 9. MOTION TO ADJOURN REGULAR MEETING Moved by Commissioner Jennifer Wagner and seconded by Commissioner Mike Beyer to adjourn the meeting. Motion Carried 7-0. The regular meeting adjourned at 5:39 p.m. President Westgaard called the closed meeting to order at 5:43 p.m. 10. CLOSED MEETING - PID #75-00757-0105 - 17610 TYLER ST. NW Commissioners Present: President Westgaard, Commissioners Grupa, Hartwig, Calva, Westgaard, Beyer, Wagner, and Blesener Staff Present: Economic Development Specialist Josh Mollan, Records Specialist Dawn Page 4 of 21 Economic Development Authority Minutes October 20, 2025 --------- Page 3 of 3 Robertson, and Recording Secretary Jolene Richter Others Present: Ryan Hardin, Hardin Companies President Westgaard read the following statement: 10.1 Statement to be read by the Chair: "The Economic Development Authority will be closing the meeting pursuant to MN Statute Section 13D.05, Subdivision 3(c)(1) to consider offers or counteroffers relating to the sale of PID 75-00757-0105, 17610 Tyler ST. NW." 10.2 Hold Closed Meeting 10.3 Motion to Adjourn Closed Meeting Moved by Commissioner J. Brian Calva and seconded by Commissioner Jennifer Wagner to adjourn the meeting. Motion 7-0. The meeting adjourned at 05:56 PM Minutes prepared by Jolene Richter. ___________________ Matt Westgaard, EDA President ___________________ Tina Allard, City Clerk Page 5 of 21 Page 6 of 21 Page 7 of 21 CITY OF ELK RIVER Balance Sheet October 31, 2025 Fund 920 - EDA Assets 920-1010 Cash - EDA 2,475,766.26 Total Assets 2,475,766.26 Fund Equity 920-2400 Fund Balance 2,418,623.64 Revenues over Expenditures - YTD 57,142.62 Total Fund Equity 2,475,766.26 Total Liabilities & Equity 2,475,766.26 Page 8 of 21 CITY OF ELK RIVER Revenues with Comparison to Budget For the Months Ending October 31, 2025 Fund 920 - EDA Period Actual YTD Actual Budget Unexpended PCNT 920-3-0000-3111 Property Taxes - 220,862.92 427,000.00 206,137.08 52% 920-3-0000-3322 MV Credit 111.70 111.70 - (111.70) 0% 920-3-0000-3342 Other Local Grants - 1,600.00 - (1,600.00) 0% 920-3-0000-3621 Interest Income 5,567.07 57,496.68 25,000.00 (32,496.68) 230% 920-3-0000-3629 Miscellaneous Revenue - 38.30 - (38.30) 0% 920-3-0000-3949 Transfer-HRA - 4,000.00 4,000.00 - 100% Total Fund Revenue 5,678.77 284,109.60 456,000.00 171,890.40 62% Page 9 of 21 CITY OF ELK RIVER Expenditures with Comparison to Budget For the Months Ending October 31, 2025 Fund 920 - EDA Period Actual YTD Actual Budget Unexpended PCNT 920-4-6210-4101 Regular Pay 10,127.08 94,284.50 130,800.00 36,515.50 72% 920-4-6210-4103 Part-time Pay 1,050.00 9,450.00 12,600.00 3,150.00 75% 920-4-6210-4104 PERA 777.97 7,231.67 10,000.00 2,768.33 72% 920-4-6210-4105 FICA 638.77 5,913.80 8,800.00 2,886.20 67% 920-4-6210-4107 Medicare 154.84 1,429.91 2,100.00 670.09 68% 920-4-6210-4108 Insurance 1,445.40 14,088.60 25,500.00 11,411.40 55% 920-4-6210-4109 Workers Comp 142.00 541.00 650.00 109.00 83% 920-4-6210-4201 Office Supplies 0.02 217.24 3,000.00 2,782.76 7% 920-4-6210-4212 Fuels & Lubes - - 50.00 50.00 0% 920-4-6210-4304 Legal Fees 438.50 438.50 10,000.00 9,561.50 4% 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 66.38 5,264.44 11,000.00 5,735.56 48% 920-4-6210-4349 Advertising/Marketing 2,377.20 17,246.42 73,600.00 56,353.58 23% 920-4-6210-4359 Publishing - 77.40 1,000.00 922.60 8% 920-4-6210-4361 Insurance - 108.00 250.00 142.00 43% 920-4-6210-4404 Software Services - 3,990.33 15,000.00 11,009.67 27% 920-4-6210-4433 Dues & Subscriptions - 15,347.03 4,650.00 (10,697.03) 330% 920-4-6210-4440 Miscellaneous 7.44 3,007.44 73,500.00 70,492.56 4% 920-4-6210-4721 Transfer-General Fund - 48,000.00 48,000.00 - 100% Total Fund Expenditures 17,225.60 226,966.98 456,000.00 229,033.02 50% Net Revenue Over Expenditures (11,546.83) 57,142.62 - (57,142.62) 0% Page 10 of 21 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 November 17, 2025 Prepared By Joshua Mollan, Economic Development Specialist Item Description Presentation - Beautification Award Winner Reviewed by Brent O'Neil Cal Portner Action Requested Recognize the 2025 Beautification Award winner, Elk River Area Chamber of Commerce, with the presentation of the award by President Westgaard. Background/Discussion Following a recommendation from the Beautification and Public Art Committee, the EDA selected at its October meeting Elk River Area Chamber of Commerce (ERACC) as the winner of the 2025 Beautification Award. The award was based on ERACC's remodel of their prominently located office into a modern and attractive property, which has positively contributed to the beauty of the community. Staff will coordinate with ERACC on the commemorative award. Financial Impact N/A Mission/Policy/Goal The City Beautification Award recognizes business owners whose efforts to clean, repair, improve and enhance the overall aesthetics of either the interior or exterior of the business, property and/or space, thereby maintaining the beauty of their neighborhood and surroundings. It is presented to encourage community improvements, enhance the city’s image, and economic vitality. Attachments 1. Beautification Award Winner Presentation Page 11 of 21 See the Winner! Page 12 of 21 Page 13 of 21 Page 14 of 21 Page 15 of 21 Page 16 of 21 Page 17 of 21 Page 18 of 21 Page 19 of 21 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 November 17, 2025 Prepared By Brent O'Neil, Economic Development Director Item Description Twin City Metal Works Loan Maturity and Payoff Reviewed by Cal Portner Action Requested Approve, by motion, a final payoff amount of $935.21 for the Twin Cities Metal Works Microloan. Background/Discussion The EDA originated a loan of $200,000 to Orluck Industries in 2018 on a five-year amortization schedule. The loan was extended two years by a 2020 agreement and reworked in 2022 as the company was being acquired and transitioning to its present operation, Twin City Metal Works. The reworked loan was scheduled to mature in July 2025. Because of the modified loan the EDA incurred $4,027 in legal fees, which are reimbursable by the company and payable through the the loan. Additionally, there are several instances in which payments were received beyond the 10-day grace period each month. Some of those are attributable to the transition of company ownership. Others are related to a single monthly payment which was missed and subsequently created a cascade effect by creating a late fee on the next several payments, despite them being on time. In total, 14 late charges were logged. Staff feels six are warranted and eight can be considered incidental to cascade effects of one missed payment and one incident in which the post office inadvertently destroyed the check in the mail. In addition to regular interest and the initial principal of $200,000, the following additional charges would be due to satisfy the loan: Late Fees: $1,057.06 Legal Fees: $4,027.00 Additional Interest: $ 987.22 With payments made to date, the remaining balance on the loan, inclusive of these fees, is $935.21 The company intends to pay the balance of the loan in full by November 30. The action requested would affirm the application of additional fees and set the remaining loan balance at $935.21 as of November 18, 2025. Upon full repayment, a satisfaction of mortgage will need to be approved by the board at a future meeting. Financial Impact $935.21 remains due on the loan, inclusive of fees. An additional $1,902.72 for eight late charges has not been applied to the payoff balance. Page 20 of 21 Mission/Policy/Goal Support Elk River Businesses Attachments None Page 21 of 21