Economic Development Authority Packet - December 15, 2025
Economic Development Authority
Regular Meeting
&
Closed Meeting
Agenda
Monday, December 15, 2025
5:30 PM or immediately following
the City Council special meeting
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 - November 17, 2025
4.2 Check Register
4.3 Balance Sheet
4.4 Revenue/Expenditure Reports
4.5 Mortgage Satisfaction - Modern Construction
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 Extension - Real Estate Brokerage Agreement
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
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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
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
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Meeting of the Economic Development
Authority
Held at the Elk River City Hall
Monday, November 17, 2025
Members Present: President Matt Westgaard, Commissioners Cory Grupa, J. Brian Calva, Jeff
Hartwig, Mike Beyer, and Jennifer Wagner
Members Absent: Commissioner Charlie Blesener
Staff Present: 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 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 - October 20, 2025
4.2 Check Register
4.3 Balance Sheet
4.4 Revenue/Expenditure Reports
5. OPEN FORUM
No one appeared for open forum.
6. PUBLIC HEARINGS
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Economic Development Authority Minutes
November 17, 2025
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Page 2 of 4
There were no public hearings.
7. GENERAL BUSINESS
7.1 Presentation - Beautification Award Winner
The staff report was presented. Mr. Mollan stated the Beautification and Public Art Committee granted
the award to the Chamber of Commerce who competed against four other business submissions. He
reviewed the before and after photos of their remodel project, which was completed by Attics to
Basements. He noted that Elk River Executive Director Debbie Rydberg was unable to attend tonight
but shared her gratitude for the recognition noting the project reflects the pride we all have in our
community.
Chamber Board representatives, former Chair Katie Jendro, current Chair David Black and Marketing
and Events Manager Ginger Jungling, along with Attics to Basement Owner David Vinje were in
attendance to accept the award. Ms. Jendro spoke on behalf of the Chamber expressing thanks for the
award, noting the recognition means a great deal to their organization and reflects the Chamber's pride
in the community. She discussed the shared belief that Elk River is worth investing in and when we
collaborate together for community success, we make the community a place where people want to
live, work, visit, and grow. She stated the Chamber is grateful for the partnership with the city.
President Westgaard congratulated the Chamber members and stated it was amazing to see the
transformation of the building.
7.2 Twin City Metal Works Loan Maturity and Payoff
The staff report was presented.
President Westgaard stated it's nice to get to a situation like this with a local business, noting there
were bumps along the road, and that the last seven years, from a business perspective, have been rough
due to COVID; but this business was able to fight their way through these trying times, and we could
work together to assist them through it.
Moved by Commissioner J. Brian Calva and seconded by Commissioner Jeff Hartwig to
approve a final payoff amount of $935.21 for the Twin Cities Metal Works
Microloan. Motion Carried 6-0.
8. OPEN DISCUSSION
Mr. Mollan noted the following items:
▪ Elk River Machine parcel (828 4th Street) was recently sold to Stephens Pipe and Steel, a
national fence distributor and manufacturer headquartered in Russell Springs, Kentucky. He
stated this is their 20th location but the first in Minnesota and we welcome them to the
community.
▪ Modern Construction wants to refinance a loan on their property and pay off the loan they have
with the Authority.
▪ Natures Dry Cleaners are closing, which may become a potential available site.
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Economic Development Authority Minutes
November 17, 2025
---------
Page 3 of 4
▪ Staff attended the MNCAR Expo and were able to make restaurant and hotel connections.They
also became aware of some potential commercial lots that could be available in the future.
9. MOTION TO ADJOURN REGULAR MEETING
Moved by Commissioner Mike Beyer and seconded by Commissioner J. Brian Calva to
adjourn the meeting. Motion Carried 6-0.
The meeting adjourned at 5:43 p.m.
10. CLOSED MEETING - PID #75-00757-0105 - 17610 TYLER ST. NW
Members Present: President Matt Westgaard, Commissioners Cory Grupa, J. Brian Calva, Jeff Hartwig,
Mike Beyer, and Jennifer Wagner
Members Absent: Commissioner Charlie Blesener
Staff Present: Economic Development Specialist Josh Mollan and City Clerk Tina Allard
Others Present: Hardin Companies Broker/Realtor Ryan Hardin
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."
President Westgaard read the statement above.
10.2 Motion Calling Closed Meeting
Moved by Commissioner Wagner and seconded by Commissioner Calva to call the closed
meeting to order. Motion carried 6-0.
The meeting was called to order at 5:46 p.m.
10.3 Hold Closed Meeting
The closed meeting was held.
10.4 Motion to Adjourn Closed Meeting
Moved by Commissioner Cory Grupa and seconded by Commissioner Jeff Hartwig to
adjourn the meeting. Motion Carried 6-0.
The meeting adjourned at 5:54 p.m.
Minutes prepared by City Clerk Tina Allard.
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Economic Development Authority Minutes
November 17, 2025
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Page 4 of 4
___________________
Matt Westgaard, EDA President
___________________
Tina Allard, City Clerk
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Page 7 of 15
Page 8 of 15
CITY OF ELK RIVER
Balance Sheet
November 30, 2025
Fund 920 - EDA
Assets
920-1010 Cash - EDA 2,459,990.65
Total Assets 2,459,990.65
Fund Equity
920-2400 Fund Balance 2,418,623.64
Revenues over Expenditures - YTD 41,367.01
Total Fund Equity 2,459,990.65
Total Liabilities & Equity 2,459,990.65
Page 9 of 15
CITY OF ELK RIVER
Revenues with Comparison to Budget
For the Months Ending November 30, 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) 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 241.57 279.87 - (279.87) 0%
920-3-0000-3949 Transfer-HRA - 4,000.00 4,000.00 - 100%
Total Fund Revenue 5,808.64 284,351.17 456,000.00 171,648.83 62%
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CITY OF ELK RIVER
Expenditures with Comparison to Budget
For the Months Ending November 30, 2025
Fund 920 - EDA
Period Actual YTD Actual Budget Unexpended PCNT
920-4-6210-4101 Regular Pay 10,127.06 104,411.56 130,800.00 26,388.44 80%
920-4-6210-4103 Part-time Pay 1,050.00 10,500.00 12,600.00 2,100.00 83%
920-4-6210-4104 PERA 777.97 8,009.64 10,000.00 1,990.36 80%
920-4-6210-4105 FICA 634.11 6,547.91 8,800.00 2,252.09 74%
920-4-6210-4107 Medicare 153.68 1,583.59 2,100.00 516.41 75%
920-4-6210-4108 Insurance 1,445.40 15,534.00 25,500.00 9,966.00 61%
920-4-6210-4109 Workers Comp - 541.00 650.00 109.00 83%
920-4-6210-4201 Office Supplies 48.71 265.95 3,000.00 2,734.05 9%
920-4-6210-4212 Fuels & Lubes - - 50.00 50.00 0%
920-4-6210-4304 Legal Fees 238.50 677.00 10,000.00 9,323.00 7%
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 1.74 2.44 100.00 97.56 2%
920-4-6210-4331 Travel, Conferences & Schools 434.06 5,698.50 11,000.00 5,301.50 52%
920-4-6210-4349 Advertising/Marketing 1,105.95 18,352.37 73,600.00 55,247.63 25%
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 - 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 16,017.18 242,984.16 456,000.00 213,015.84 53%
Net Revenue Over Expenditures (10,208.54) 41,367.01 - (41,367.01) 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
4.5
Meeting Date
December 15, 2025
Prepared By
Joshua Mollan, Economic Development Specialist
Item Description
Mortgage Satisfaction - Modern Construction
Reviewed by
Brent O'Neil
Cal Portner
Action Requested
Approve, by motion, a satisfaction of mortgage related to a microloan agreement with Modern Construction
and authorize staff to execute and file the required documents.
Background/Discussion
Modern Construction entered into a note with the EDA on October 31, 2024, for $51,499, a microloan
agreement, and multiple security agreements. As part of a refinancing, Modern Construction has paid back the
loan in full as of November 20, 2025, while satisfying all other requirements.
This action will release all security obligations held by the EDA for the loan, including two recorded
mortgages.
Financial Impact
N/A
Mission/Policy/Goal
Support the growth and development of the community.
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
7.1
Meeting Date
December 15, 2025
Prepared By
Brent O'Neil, Economic Development Director
Item Description
Extension - Real Estate Brokerage Agreement
Reviewed by
Cal Portner
Action Requested
Approve, by motion, the attached amendment extending the brokerage agreement with Partners Real Estate
MN.
Background/Discussion
The brokerage agreement between Ryan Hardin of Hardin Companies and Partners Real Estate and the EDA
expires in January 2026. The amendment is for the 12-acre site at 17610 Tyler Street and extends the
agreement by one year.
Financial Impact
The total commissions are up to 6%.
Mission/Policy/Goal
Support industrial growth.
Attachments
1. Listing Amendment 2026
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NorthstarMLS Listing Change Form and Contract Amendment
This form may function as an amendment to the listing agreement between the parties.
(Asterisk denotes Required Field if the Section is used)
*Listing Number *Address
*Listing Office ID *Listing Agent ID *Listing Agent Name
□ Price Change
*New List Price
$
□ Status Change
(May be entered by listing firm)
□ *Active
(from a Temp. Not Avail. For Showing,
Coming Soon, or Pending status)
□ *Pending
(includes all listings not available for
showings IF an offer has been accepted)
*Pending Date
*Projected Close Date
*Selling Office ID
*Selling Agent ID
*Selling Agent Name:
Co-Selling Office ID
Co-Selling Agent ID
Co-Selling Agent Name:
□ Sold
(Listing must be entered into Pending first)
*Sale Price
*Date Closed
Loan Amount
*Seller Contribution
*Financing Terms (choose only 1)
□ FHA □ Contract For Deed
□ FHA Rehab 203k □ Lease Purchase
□ DVA □ Special Funding
□ Conventional □ Federal Land Bank
□ Conv Rehab □ MHFA/WHEDA
□ Rural Dev □ Cash
□ USDA □ Contract/Deed w/Assumption
□ Assumable □ Exchange/Trade
□ Adj. Rate/Gr. Pay □ Other
□ Expiration Date Change
If Old Expiration Date is past, extension
must be signed within 7 days of that date.
Otherwise, must enter new listing.
*Old Expiration Date
*New Expiration Date
□ Status Change
(To be entered by your association)
□ *Temp. Not Avail. For Showing
□ *Cancelled
(The Owner(s) and the Broker must
sign for a listing to be Cancelled.)
*Off-Market Date
□ Rented
*Rented Monthly Rate
*Rented Date
*Renting Office ID
*Renting Agent ID
*Renting Agent Name
OTHER: (Write the name of the field and the value it should contain, e.g. “Bedrooms = 4”)
The Undersigned do hereby agree that the listing contract dated , (original contract date) between
the undersigned is changed as shown above. All other terms of such listing contract shall remain unchanged and in full force
and effect, except as we may agree in writing to change it in the future.
Owner acknowledges receipt of a copy of this transmittal form.
Owner (Signature)
Owner (Signature)
Agent
Broker (Required for Cancellation)
Copyright 2020, NorthstarMLS. All rights reserved.
Date
Date
Date
Date
Multiple Multiple Parcels See "Other" Below
26332 496506940 Ryan D Hardin
8
01/18/26
01/18/27
Expiration Date hereby amended for: PID# 75-757-0105 17610 Tyler Street NW, Elk River, MN 55330,
01/19/2022
Ryan Hardin
Hardin Companies
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NorthstarMLS Change Form Instructions
This form is split into multiple sections, each serving a different function. Keep in mind that the fields with
asterisks are REQUIRED. If the information is not complete, the change cannot be made. This form will also
serve as the owner’s authorization to broker to make changes to the listing and owners agree that the changes
are correct.
BASIC INFORMATION
Property address, listing number, listing office ID and listing agent ID are required for ALL changes.
WHO SHOULD INPUT THIS CHANGE INTO NORTHSTARMLS?
The office broker may make most MLS changes without sending this form to NorthstarMLS. The change
form should be retained and made available to NorthstarMLS upon request.
Expiration Date Correction: MLS rules allow a listing contract to be extended within 7 days of the
expiration date (After 7 days, a new contract and new MLS listing are required). The office broker may
correct an inaccurate listing date if it is corrected within 7 days of listing entry.
If the listing status is sold, the information cannot be updated by the agent or broker. The change form
should be sent to NorthstarMLS at help@northstarmls.com
STATUS CHANGE
1. Temporarily Not Available for Showing - does not terminate listing rights. A listing contract still exists but
the listing is off the market, not available for showings to anyone, for a time that exceeds 24 hours. The
property owner is not free to dispose of the property or re-list it with another broker without first recognizing
the rights of the current listing broker.
2. Cancelled - terminates the listing rights of the broker as of a specific date, except for those prospects
whom the seller has been notified of in writing in accordance with the listing agreement terms. Upon the
effective cancellation date of the listing, the seller is free to relist, sell directly, or take the property off the
market. The listing broker must sign the form for this status change.
3. Active - The listed property is available for showings.
4. Pending - Enter the date the purchase agreement/contract was accepted in the Off-Market date field. Enter
the projected closing date, the selling office ID and the selling agent ID.
5. Sold - Enter the sale price, the date the sale closed, the loan amount (if any) and the amount the seller
contributed to the transaction (points paid or other). Select the type of financing used. This entry must be
made within 2 business days of the closing.
6. Rented - Enter the Rented Monthly Rate, Rented Date (the date the lease/contract was accepted), Renting
Office ID, Renting Agent ID and Renting Agent name. This entry must be made within 2 business days of
the lease agreement/contract being accepted.
OTHER CHANGES
Write the name of the field you wish to change along with the correct, new information. If you wish to change
a remarks section, write the name of the remarks field (e.g. “Agent Remarks”) on this form and attach the text
you wish to have entered.
SIGNATURES
Be sure to get signatures from all the identified individuals.
Contact the NorthstarMLS Help Desk with any questions at 651-251-5456 or help@northstarmls.com
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