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4.03: EDA Updates <br />Economic Development Manager LaFrance presented the EDA updates and stated the Business <br />Expo was well received with 200 -300 participants and 50 businesses participating in the event. <br />He noted that the space is cramped and suggested seeking other venues for the event. <br />Development Services Manager Gladhill advised that the Planning Commission recommended <br />that the City Council approve MMI Precision's site plans at its May 1S meeting. <br />Economic Development Manager LaFrance stated that Prospect GLE is seeking to build a <br />facility near Bunker Lake Boulevard and 141S He stated he received a call from their lender <br />about the City's revolving loan fund and informed the lender that the EDA is interested in <br />supporting the business. <br />Economic Development Manager LaFrance advised that staff is reviewing the Purchase <br />Agreement from Prospect Affordable Housing and they have requested $250,000 in support and <br />the Anoka County HRA will consider this request on May 13t <br />Development Services Manager Gladhill reported that the Planning Commission recommended <br />moving forward with the Comprehensive Plan amendment for the Future Business Park, in <br />response to LaFrance's update on the Future Business Park. <br />Chairperson Steffen suggested that the EDA invite CBRE to a future EDA meeting. <br />City Administrator Ulrich reported that the bonding bill was passed yesterday by the Senate and <br />was passed as a budget allocation for $8 million rather than the $10 million requested. He <br />advised that the bill is still being worked on in the House and the City is hopeful to get the entire <br />$10 million allocation out of the House. <br />5. Member /Staff Input <br />Chairperson Steffen requested an update on the McDonalds groundbreaking. <br />City Administrator Ulrich advised he met with McDonalds two months ago to review the <br />construction schedule for Armstrong and it was his impression that they were moving ahead and <br />would begin testing some sign heights but he has not heard anything further from McDonalds. <br />Development Services Manager Gladhill indicated there has not been a lot of activity because of <br />the road restrictions and thought that McDonalds would shortly begin their sign testing. <br />6. Adjournment <br />The regular meeting of the Economic Development Authority adjourned at 8:51 a.m. <br />Economic Development Authority/May 8, 2014 <br />Page 5 of 6 <br />