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finance the Revolving Loan Fund from other City funds in order to consider the request by Sunfish Commons for a loan. Mr. Norman explained that the discussions with the Sunfish Commons Partnership included commitment by Amcon Construction to assist in bringing a large 185,000 square foot project to the ,future industrial park, currently owned by Waste Management, which will be discussed later in this agenda. Amcon Construction has successfully been able to bring the negotiations with the prospect near completion and the City Administrator made a commitment to the Sunfish Commons partners to formally request the Revolving Loan to their project. The loan amount would come to $150,000 and would be extended over a five-year period. Motion by Member Blaha and seconded by Member LeTourneau to recommend financing a Revolving Loan Fund with other City funds to allow the Sunfish Lake Commons parmership to make a loan application. Motion carried. Voting' Yes: Vice-Chairperson Scheiber, Members Blaha, LeTourneau, Anderson and Riley. Voting No: None. Absent: Members Wagner and Zimmerman. Case #2: Highway #10 Industrial Development City Administrator Norman explained that during a recent facilitator-led Comprehensive Plan discussion with the City Council, the discussion centered on the need for more industrial development land. As part of the discussion, it was noted that there was a considerable amount of underutilized property south of Highway #10, that may be poorly suited for Highway Commercial Business Development, because it is located on the left side of the "going home traffic". Staff identified various potential industrial sites along Highway #10, beginning at the Anoka City limits through the western boundary of the Mississippi West Regional Park. Additionally, staff identified an area north of Highway #10, adjacent to the Elk River City limits. The Commission noted that the request could be forwarded to both the Planning Commission and the City Council for a proposed land use change. Motion by Member LeTourneau, seconded by Member Blaha tO recommend land use changes from Highway Commercial to Industrial along Highway #10 as discussed by the Commission. Motion carded. Voting Yes: Vice-Chairperson Scheiber, Members LeTourneau, Blaha, Anderson and Riley. Voting No: None. Absent: Members Wagner and Zimmerrnan. Case #3: Darkenwald Industrial Prospect Project City Administrator Norman reminded the EDA that the City had been in discussions with Darkenwald, the property owner for the land south of the railroad tracks and immediately to the east of the Elk River boundary, approximately a year ago. The property owner at that time had proposed a highway commercial project, however, was unsuccessful in marketing the project. The property owner recently brought an industrial prospect to the City in hopes of developing the southern part of their property. Minn~Dak, a plumbing and mechanical contract.or, was hopeful to have frontage as close to Highway #10 as possible. Staff suggested that in light of the EDA August 20, 2001 Page 2 of 4