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LINO LAKES ECONOMIC DEVELOPMENT AUTHORITY <br />AGENDA ITEM 3A <br /> <br />STAFF ORIGINATOR: Michael Grochala <br /> <br />MEETING DATE: January 23, 2023 <br /> <br />TOPIC: Consideration of 2023 Annual Appointments <br /> <br />VOTE REQUIRED: Simple Majority <br /> <br />BACKGROUND <br /> <br />The Economic Development Authority (EDA) was established in 1990 pursuant to Minnesota <br />Statutes, Chapter 469. The EDA is governed by a board of commissioners consisting of the City <br />Council. <br /> <br />Each year, the Economic Development Authority is required by its by-laws to hold an annual <br />meeting and to make a number of appointments. The President, Vice President, and Treasurer <br />positions have historical rotated annually. The following is a list of appointments for your <br />consideration: <br /> <br />Position 2022 2023 Recommended <br />1. President Michael Ruhland Tony Cavegn <br />2. Vice President Tony Cavegn Rob Rafferty <br />3. Treasurer Rob Rafferty Dale Stoesz <br />4. Secretary Community Development <br />Director <br />Community Development <br />Director <br />5. Assistant Treasurer Finance Director Finance Director <br />6. Executive Director City Administrator City Administrator <br />7. Official Newspaper Quad Community Press Quad Community Press <br />8. Legal Depositories First Resource Bank <br />LMC 4M Fund <br />PMA Financial Networks <br />PMA Securities <br />Moreton Capital Markets <br />US Bank <br />First Resource Bank <br />LMC 4M Fund <br />PMA Financial Networks <br />PMA Securities <br />Moreton Capital Markets <br />US Bank