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3 4 CITY OF LINO LAKES ECONOMIC DEVELOPMENT AUTHORIT' MINUTES 5 DATE 6 MEMBERS PRESENT 7 MEMBERS ABSENT 8 OTHERS PRESENT 9 : November 14, 2005 : J. Bergeson, D. Carlson, C. Dahl, J. Reinert, D. Stoltz : None : Mary Divine, Gordon Heitke, Michael Grochala, and Jean Viger 10 1 t Meeting called to order by President Reinert at 6:04 p.m. 12 113 CONSIDERATION OF MINUTES OF SEPTEMBER 13, 2005 15 EDA Member Carlson moved to approve the September 13, 2005 minutes, as presented. EDA 14 16 Member Bergeson seconded the motion. Motion passed unanimously. 17 is CONSIDERATION OF RESOLUTION UNDEROHE CONTRACT FOR 19 AND RELEASE OF CERTAIN OBLIGATIONS 20 PRIVATE DEVELOPMENT WITH HARTFORD DEVELOPMENT, INC. 21 22 Ms. Divine summarized the Staff report, indicating Staff recommends approval. 23 24 EDA Member Carlson asked for clarification that the City is releasing the Hartford Group and 25 transferring those conditions to the Country Inn & Suites Development Group without. changing 26 builders. Economic Development Coordinator Divine replied that is correct. 27 28 President Reinert asked if exposure for the City remains the same. Economic Development 29 Coordinator Divine replied that is correct. 31 EDA Member Stoltz moved to adopt Resolution No. 05-03, 30 Approving the Assignment and 32 Release of Certain Obligations Under the Contract for Private Development with.Hartford_ Group, Inc. EDA Member Dahl seconded the motion. Motion carried unanimously. ADJOURNMENT There being no further business, EDA Member Dahl moved to adjourn. EDA Member Bergeson seconded the motion. Motion passed unanimously. 33 34 35 36 37 38 39 40 41 42 43 44 45 46 Meeting adjourned at 6:09 p.m. Transcribed by: Cheryl Felix TimeSaver Off Site Secretarial, Inc.