04-14-2008 EDA MINMEETING OF THE ELK RIVER
ECONOMIC DEVELOPMENT AUTHORITY
HELD AT THE ELK RIVER CITY HALL
MONDAY, APRIL 14, 2008
Members Present: President Gongoll, Commissioners Dwyer, Farber, Klinzing, Motin, Tveite,
and Zerwas
Members Absent: None
Staff Present: Director of Economic Development Catherine Mehelich, City
Administrator Lori Johnson, Finance Director Tim Simon, and City Clerk
Tina Allard
1. Call Meeting To Order
Pursuant to due call and notice thereof, the meeting of the Economic Development
Authority was called to order at 5:30 p.m. by President Gongoll.
2. Consider Agenda
MOVED BY COMMISSIONER TVEITE AND SECONDED BY
COMMISSIONER ZERWAS TO APPROVE THE APRIL 14, 2008 EDA AGENDA.
MOTION CARRIED 7-0.
3. Consider Consent Agenda
MOVED BY COMMISSIONER ZERWAS AND SECONDED BY
COMMISSIONER FARBER TO APPROVE THE CONSENT AGENDA AS
FOLLOWS:
3.1. MARCH 10, 2008 REGULAR MEETING MINUTES
3.2. CHECg REGISTERS
3.3. BALANCE SHEET
3.4. REVENUE/EXPENDITURE REPORT
3.5. PAY ESTIMATES (YMCA) AS OUTLINED IN THE STAFF REPORT
MOTION CARRIED 7-0.
4. Open Mike
No one appeared for Open Mike.
5. Consider Sportech Inc Expansion Project
5.1. Public Hearing -Consider Disposition of EDA Property and Business Subsidies
5.2. Consider Industrial Incentive Micro Loan to Sportech, Inc
Ms. Mehelich presented the staff report.
Chair Gongoll opened the public hearing for the disposition of EDA property and on the
business subsidies for this project.
Economic Development Authority Minutes
April 14, 2008
Page 2
Chris Carlson, CEO of Sportech - Provided an overview of the project and stated business
was going very well.
Chair Gongoll closed the public hearing.
The Commission was glad to see a local company staying and expanding in Elk River and
noted that Sportech has worked well with the city. The Commission stated Sportech is a
quality company and thanked them for their business.
MOVED BY COMMISSIONER TVEITE AND SECONDED BY
COMMISSIONER ZERWAS TO ADOPT RESOLUTION 08-04 AUTHORIZING
THE SALE OF LAND. MOTION CARRIED 7-0.
MOVED BY COMMISSIONER TVEITE AND SECONDED BY
COMMISSIONER KI.INZING TO ADOPT RESOLUTION 08-05
AUTHORIZING EXECUTION OF ABATEMENT AGREEMENTS. MOTION
CARRIED 7-0.
MOVED BY COMMISSIONER KI.INZING AND SECONDED BY
COMMISSIONER MOTIN TO APPROVE THE $100,000 MICRO LOAN IN
ACCORDANCE WITH THE TERMS OUTLINED IN THE STAFF REPORT.
MOTION CARRIED 7-0.
6. Consider Industrial Incentive Micro Loan to Pomeroy Tool, Inc
Ms. Mehelich provided an overview of the project and stated the Finance Committee
recommended denial of the loan request by Pomeroy Tool, Inc. due to concerns on the
feasibility of the proposed project and encouraged the applicant to come back with a revised
proposal.
Finance Committee members Tveite and Motin stated concerns with how tight the financing
package was structured and noted it didn't allow for any contingenry issues that may arise.
They noted there wasn't any working capital built into the financing.
Ms. Mehelich provided information regarding the Sherburne County Development Round
Table meeting scheduled Apri130, 2008.
7. Ad'ourn
There being no other business, President Gongoll adjourned the meeting of the Elk River
Economic Development Authority adjourned at 5:45 p.m.
Tina Allard
City Clerk