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Prior Lake, MN 55372-1714
Economic Development Authority Meeting Minutes
March 19, 2007
ECONOMIC DEVELOPMENT AUTHORITY MEETING MINUTES
CALL TO ORDER
The meeting was called to order by President LeMair at 5:00 p.m. Present were Commissioners Erickson,
Haugen, Hedberg, LeMair and Millar, Executive Director Boyles, Economic Development Director Snook
and Secretary Green.
APPROVAL OF AGENDA
MOTION BY HAUGEN, SECONDED BY MILLAR TO APPROVE THE AGENDA AS PRESENTED.
VOTE: Ayes by Erickson, Haugen, Hedberg, LeMair and Millar. The motion carried.
APPROVAL OF MINUTES
MOTION BY MILLAR, SECONDED BY ERICKSON TO APPROVE THE MINUTES OF THE DECEMBER
18, 2006, MEETING AS PRESENTED.
VOTE: Ayes by Erickson, Haugen, LeMair and Millar. Hedberg abstained as he was not a member of the
EDA at the time of the meeting. The motion carried.
OLD BUSINESS
No old business was presented.
NEW BUSINESS
Consider Approval of a Resolution Appointing Economic Development Officers for 2007.
Executive Director Boyles informed the commissioners of persons holding Economic Development Au-
thority offices in 2006.
President LeMair suggested transitioning forward with an automatic assignment of the Presidency to the
2006 Vice President Millar. Also suggested Erickson serve as Vice-President and Hedberg as Treasurer.
MOTION BY HAUGEN, SECONDED BY ERICKSON TO APPROVE RESOLUTION 07.01EDA
APPOINTING THE FOLLOWING OFFICERS TO THE ECONOMIC DEVELOPMENT AUTHORITY FOR
2007.
President -Commissioner Millar
Vice President -Commissioner Erickson
Treasurer -Commissioner Hedberg
Assistant Treasurer- Staff Person Ralph Teschner, Finance Director
Secretary -Staff Person Charlotte Green, Administrative Assistant
Millar: Suggested that by having Hedberg serve as the President it may serve the best interests of the
community due to Hedberg's experience in corporate management.
Hedberg: Stated he does have interest in serving as an officer but seeks no particular officer position and
is willing to follow the wishes of the Commissioners.
Haugen: Stated Commissioners have evolved through the President position over that past years and be-
lieves it just continues the rotation to have Millar as President unless he does not want to.
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Economic Development Authority Meeting Minutes
March 19, 2007
Millar: Stated he is willing to accept
VOTE: Ayes by Erickson, Haugen, Hedberg, LeMair and Millar. The motion carried.
Consider approval of a Resolution Designating an Official Depository and Amending the Economic
Development Bylaws.
Economic Development Director Snook outlined proposed bylaws changes regarding change of ad-
dress, adjourning a meeting with less than a quorum and designation of depository every four years. Noted
that the US Bank serves as official depository for the City Council.
Comments:
Millar: Asked how often bids for the official depository would occur.
LeMair: Every four years
Millar: Believes it would be nice to keep the business in the community with a local bank, but if the cost is
better will agree with designating the US Bank.
Erickson: Commented that in the past, we have always received bids that included the local banks.
Millar: Prior Lake State Bank is locally owned.
Hedberg: Will support the proposal.
Erickson: No comments.
Haugen: Believes whether locally owned or not, all banks in the community are eligible to put in a bid
package for our services and it would not pass a legal test to say US Bank is not local.
LeMair: Noted that US Bank was the best bid with significant difference between the fees and interest in
the bids. Will support.
Millar: Agree we should go with best value for the City.
MOTION BY ERICKSON, SECONDED BY HEDBERG TO APPROVE RESOLUTION 07-02EDA
AMENDING THE EDA BYLAWS TO PROVIDE FOR A BANK DEPOSITORY DESIGNATION EVERY
FOUR YEARS FOR ECONOMIC DEVELOPMENT AUTHORITY FUNDS AND TO DELETE THE
REFERENCE TO THE EDA BEING ABLE TO ADJOURN A MEETING WITH LESS THAN A QUORUM
AND TO CHANGE THE ADDRESS TO THE CURRENT ADDRESS .
VOTE: Ayes by Erickson, Haugen, Hedberg, LeMair and Millar. The motion carried.
ADJOURNMENT
A motion was made by Haugen and seconded by Millar to adjourn. With all members in favor, the motion
carried and the meeting adjourned at 5:13 p.m.
Fra yl xecutive Director Charlotte Green, Administrative Assistant
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