EDA Minutes 04-24-1990C
33
MINUTES
MONTICELLO ECONOMIC DEVELOPMENT AUTHORITY
Tuesday, April 24, 1990 - 7:00 AM
City Hall
MEMBERS PRESENT: Chairperson Ron Hoglund, Warren Smith,
Harvey Kendall, Fran Fair, and Bob Mosford.
MEMBERS ABSENT: Barb Schvientek and Al Larson.
STAFF PRESENT: 011ie Koropchak, EDA Executive Director
STAFF ABSENT: Rick Wolfsteller, EDA Treasurer.
1. CALL TO ORDER.
Chairperson Ron Hoglund called the EDA meeting to order
at 7:04 AM.
2. CONSIDERATION TO APPROVE THE APRIL 3, 1990 AND APRIL 4, 1990
EDA MINUTES.
Warren Smith made a motion to approve the April 3 and April 4,
1990 EDA minutes, seconded by Harvey Kendall. With no corrections
andan unanimous vote, the minutes were declared approved as
written by Chairperson Hoglund.
3. CONSIDERATION TO APPROVE EDA COMMISSIONERS EXPIRATION OF
TERMS.
A motion was made by Harvey Kendall to approve the following
EDA Commissioner's expiration term date.
Fran Fair
- December
31,
1990
Warren Smith
- December
31,
1990
Harvey Kendall
- December
31,
1991
Al Larson
- December
31,
1991
Barb Schvientek
- December
31,
1993
Bob Mosford
- December
31,
1994
Ron Hoglund
- December
31,
1995
Fran Fair seconded the motion and without further discussion
the motion passed unanimously.
4. CONSIDERATION TO REVIEW AND/OR ADJUST GMEF LOAN APPLICATION
PROCEDURE.
Harvey Kendall inquired of the assistance received in
drafting the guidelines and forms. Koropchak responced
that BGS, Inc., other EDA's, state agencies, and Wright
County State Bank all gave input into the development
of forms, etc. Koropchak will remove (and conditions)
from the approval loan form.
EDA Minutes - 4/24/90
Page 2
5. CONSIDERATION OF ANY FOLLOW-UP TO THE TAPPER'S INC. GMEF
LOAN.
Koropchak reported that Mr. Tom Hayes was drafting necessary
documents for the CHEF Loan to William and Barbara Tapper.
He will contact Kevin Doty or Tapper's attorney for
necessary information to complete documents for the
SBA closing. The development agreement has been
received from Holmes 6 Graven drafted for the HRA
in and between the Tapper's. The GMEF fund will be
in monthly payments. The current balance of the
GMEF is $100,000 which means an availability to loan
out no greater than $50,000.
6. OTHER BUSINESS.
None.
7. ADJOURNMENT.
Harvey Kendall made a motion to adjourn the EDA meeting,
seconded by Warren Smith, Chairperson Hoglund adjourned
the EDA meeting at 7:30AM.
Com, K�oQ.Q..s�
011ie Koropchak
EDA Secretary