08-23-1993 EDA MIN
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SPECIAL MEETING OF THE ELK RIVER ECONOMIC DEVELOPMENT AUTHORITY
HELD AT THE ELK RIVER CITY HALL
MONDAY, AUGUST 23, 1993
Members Present: President Gongoll, Commissioners Dwyer, Scheel, Duitsman,
Dietz (6:51 p.m.), Holmgren (6:52 p.m.), and Farber (6:56
p.m. )
Members Absent: None
Staff Present: Bill Rubin, Economic Development Coordinator; Pat Klaers,
Executive Director; Sandra Thackeray, City Clerk
1. Call Meeting To Order
Pursuant to due call and notice thereof, the
Economic Development Authority was called
President Gongoll.
special meeting of the
to order at 6:50 p.m. by
2. Consider 8/23/93 EDA Agenda
Bill Rubin added Item 3.1., "MHFA First Time Homebuyers Program";
3.1.a., "Authorize Deposit Fee"; and 3.1.b, "Authorize $200 Processing
Fee". It was the consensus of the EDA to approve the agenda as "amended.
3.
Consider a Recommendation to the City Council Regarding a Proposal to
an Industrial Prospect
Bill Rubin indicated that on August 10, representatives of the City of
Elk River made a presentation to an industrial company who is
considering relocating in Elk River. The presentation included an
incentive package encouraging the Company to move to Elk River. Bill
Rubin stated that although the presentation was well received, the
company requested a more definitive estimate of the Elk River incentive
package. He stated that the industrial company feels that a20 acre
parcel adjacent to the fairgrounds is most suitable to their needs,
however, specific information such as land costs, utility costs, etc.,
regarding the property was not available at the time of the
presentation. The company needs this information in order to move
forward with its recommendation to its Board of Directors.
Bill Rubin suggested that a proposal be sent to the company outlining
the eligible items and costs involved and suggested that the EDA review
these items and forward a recommendation to the City Council. Should
the Council affirm the proposal, Mayor Duitsman would be authorized to
sign a letter which outlines the Elk River offer.
Commissioner Dwyer indicated the presentation
felt the level of comfort of the industrial
the fact that the City did not have a tangible
went well, however, he
prospect was lower due to
site to offer.
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Economic Development Authority Meeting
August 23, 1993
Page 2
The EDA reviewed a draft proposal outlining the terms for the property
acquisition and related eligible expenditures. Bill Rubin suggested
some changes to the proposal which were accepted by the EDA.
PRESIDENT GONGOLL MOVED THAT THE EDA RECOMMEND TO THE COUNCIL THAT IT
AUTHORIZE THE MAYOR TO SIGN THE PROPOSAL AND TO AUTHORIZE STAFF TO
SUBMIT THE PROPOSAL TO THE INDUSTRIAL PROSPECT. COMMISSIONER DWYER
SECONDED THE MOTION. THE MOTION CARRIED 7-0.
3.1. MHFA First Time Homebuyers Program
Minnesota Housing and Finance Agency is
First Time Homebuyers Program. He
eligible for approximately $974,000 in
EDA to consider authorizing a one
and a $200 non-refundable processing
Bill Rubin stated that the
eligible to issue bonds for the
indicated that Elk River is
mortgage funds and requested the
percent refundable deposit fee
fee.
COMMISSIONER FARBER MOVED TO AUTHORIZE A ONE PERCENT REFUNDABLE DEPOSIT
FEE AND A NON-REFUNDABLE $200 PROCESSING FEE FOR THE MHFA FIRST TIME
HOMEBUYERS PROGRAM. COMMISSIONER DIETZ SECONDED THE MOTION. THE
MOTION CARRIED 7-0.
4.
Adjournment
There being no further business, COMMISSIONER HOLMGREN MOVED TO ADJOURN
THE MEETING. COMMISSIONER FARBER SECONDED THE MOTION. THE MOTION
CARRIED 7-0.
The special meeting of the Elk River Economic Development Authority
adjourned at 6:07 p.m.
Respectfully submitted,
~k:i~~l
City Clerk