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EDA Minutes 06-15-2026 Meeting of the Economic Development Authority Held at the Elk River City Hall Monday, June 15, 2026 Members Present: President Matt Westgaard, Commissioners Cory Grupa, J. Brian Calva, Jeff Hartwig, Mike Beyer, Jennifer Wagner, and Charlie Blesener Members Absent: None. Staff Present: Economic Development Director Brent O'Neil, Economic Development Specialist Joshua Mollan, and Recording Secretary Justin Dunford 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 Wagner and seconded by Commissioner Beyer to approve the agenda. Motion carried 7-0. 4. CONSENT AGENDA Moved by Commissioner Calva and seconded by Commissioner Grupa to approve the following consent items as outlined in their respective staff reports. Motion carried 7-0. 4.1 DRAFT Minutes - May 18, 2026 4.2 Check Register 4.3 Balance Sheet 4.4 Revenue/Expenditure Reports 5. OPEN FORUM President Westgaard opened the public hearing. There being no one to speak to this matter, President Westgaard closed the public hearing. Economic Development Authority Minutes June 15, 2026 --------- Page 2 of 4 6. PUBLIC HEARINGS There were no public hearings. 7. GENERAL BUSINESS 7.1 Resolution 26-06: Downtown Loan - Elk Dental Center Moved by Commissioner Wagner and seconded by Commissioner Beyer to approve, by motion, Resolution 26-06 authorizing a loan to Karma Real Estate, LLC. Motion carried 7- 0. Director O'Neil presented the staff report and provided a rendering to the members of proposed exterior changes to the Elk River Dental Center location. The location will receive a major remodel and significant investment. The Economic Development Authority would provide a loan with standard terms. Payments would be amortized over a 20-year schedule, likely with a ballot payment after the 60th month. Estimates show a monthly payment of $415.19 for the loan. President Westgaard asked Mr. O'Neil what the interest rate of the loan would be, as there was previous discussion regarding making adjustments to the interest rates based on the market. Mr. O'Neil indicated that no such adjustment had been made, but that conversation could continue on that. Commissioners Wagner and Beyer commented about how it was good to see the program taken advantage of and for improvements to be made to a prime property that is forward-facing to the highway. 7.2 Committee Member Appointment Moved by Commissioner Calva and seconded by Commissioner Hartwig to approve, by motion, the appointment of Connie Beckers to serve on the Beautification and Public Art Committee. Motion carried 7-0. Economic Development Specialist Joshua Mollan provided a brief update on the Beautification Committee. The Committee has discussed the idea of a Utility Box Art Program/Project, and is working with the Minnesota Art Board on ideas. The request for action was to appoint Connie Beckers to fill a vacancy on the Beautification Commission. The Economic Development Authority was thankful for community members and residents stepping up and joining commissions. 8. OPEN DISCUSSION Director O'Neil gave an update to the EDA members: • The Tipsy on Main property is for sale. Currently, it looks like the intention is to sell the property only. • An update on the first building to the west of Granite Shores. An entity bought the property roughly a year ago and is seeking to make adjustments. Plans are to bring in a Thai restaurant in that area. Economic Development Authority Minutes June 15, 2026 --------- Page 3 of 4 • CDI - involved parties are exploring permissions for gas easements. It is currently a lengthy process and frustrating both CDI and staff. Luckily, a breakthrough was found last week and it appears a path is opening up. • Stoneworks, located on County Road 1 — they consolidated operations with their Plymouth location. There may be opportunity in Elk River, but it is unfortunate that the Elk River part of their business is shutting down in Elk River. • Budget workshop for the upcoming Summer - Quick temperature check on timing for a July 20 meeting. There has been work by the marketing committee for ad hoc needs. Mr. O'Neil thanked members Blesener, Wagner, and Calva for assisting with marketing needs. • Director O'Neil asked members to begin thinking of ideas, goals, and insights to develop internally and then present at a workshop. For example, consider program changes and expansions, the Downtown Project next summer, and future growth of economic development in Elk River. The goal is to strategically plan and make resources available. 9. MOTION TO ADJOURN REGULAR MEETING Moved by Commissioner Beyer and seconded by Commissioner Grupa to adjourn the meeting. Motion carried 7-0. The regular meeting adjourned at 5:46 p.m. President Westgaard called the work session to order at 5:48 p.m. 10. WORK SESSION 10.1 Eden Endeavors - Hotel Developer Director O'Neil provided an update on the project. The project has decided not to move forward. There is still active interest in the development of a hotel in Elk River. Staff will continue to explore opportunities and work with development partners moving forward. 11. MOTION TO ADJOURN Moved by Commissioner Blesener and seconded by Commissioner Grupa to adjourn the work session. Motion carried 7-0. The work session adjourned at 5:54 p.m. 12. CLOSED MEETING - PID 75-00960-0010 President Westgaard closed the public meeting at 5:54 p.m. pursuant to M.S. 13D.05, Subdivision 3(c)(1). Economic Development Authority Members Present: President Matt Westgaard, Commissioner Mike Beyer, Commissioner Cory Grupa, Commissioner Jennifer Wagner, Commissioner Jeff Hartwig, Commissioner J. Brian Calva, Commissioner Charlie Blesener Staff Present: Economic Development Director Brent O'Neil, Economic Development Economic Development Authority Minutes June 15, 2026 --------- Page 4 of 4 Specialist Joshua Mollan, and City Clerk Justin Dunford President Westgaard read the following statement: 12.1 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 75-00960-0010." 12.2 Motion Calling Closed Meeting Moved by Commissioner Wagner and seconded by Commissioner Beyer to open the closed meeting. Motion carried 7-0. 12.3 Hold Closed Meeting 12.4 Motion to Adjourn Closed Meeting Moved by Commissioner Beyer and seconded by Commissioner Wagner to adjourn the closed meeting. Motion carried 7-0. The meeting adjourned at 6:05 p.m. Minutes prepared by Justin Dunford. __________________________ Matt Westgaard, EDA President _______________________ Justin Dunford, City Clerk