HomeMy WebLinkAbout01 21 2014 EDA Report 8B
4646 Dakota Street SE
Prior Lake, MN 55372
ECONOMIC DEVELOPMENT AUTHORITY AGENDA REPORT
MEETING DATE: January 21, 2014
AGENDA #: 8B
PREPARED BY: Dan Rogness, Community & Economic Development Director
AGENDA ITEM: EXPAND TECHNOLOGY VILLAGE BOARD OF DIRECTORS
DISCUSSION: Introduction
The purpose of this agenda item is to discuss whether the Technology Village
Board of Directors should expand from six to eight members.
History
The bylaws for the Technology Village Board of Directors allows the City Council
to appoint a minimum of five and a maximum of nine voting members to the board.
On November 26, 2012, the City Council appointed six members from a response
of twelve applications. The EDA and City Council felt that a smaller number of
board members may be preferable to a larger group, at least at the beginning.
Current Circumstances
At the Technology Village Board’s last meeting, they agreed that two more mem-
bers would be beneficial in order to broaden the board’s level of experience. Their
business experience is used to advise and mentor businesses within Technology
Village. Eight members will also allow more attendance of board members if some
are absent for any reason.
Conclusion
The Technology Village Board of Directors recommends that two more board
members be added that will result in eight.
ISSUES: A quorum is at least 50% of Board members, which is three in the case of six
members, and four in the case of eight members. If the Board expanded to the
maximum of nine members, then five would need to be present in order to have a
quorum for business. If approved by the EDA, staff will initiate the city’s standard
recruitment process as set forth by the bylaws.
FINANCIAL No impact.
IMPACT:
ALTERNATIVES: 1. Motion and second to authorize City Staff to advertise for two open board
positions in order to have eight Technology Village members;
2. Motion and second to table action, and to provide direction to staff.
RECOMMENDED Staff recommends Alternative #1
MOTION:
2