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LINO LAKES ECONOMIC DEVELOPMENT AUTHORITY <br />AGENDA ITEM 3A <br />STAFF ORIGINATOR: Michael Grochala <br />MEETING DATE: February 10, 2025 <br />TOPIC: Consideration of 2025 Annual Appointments <br />VOTE REQUIRED: Simple Majority <br />BACKGROUND <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 />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 historically rotated annually among the membership. The following is a list of <br />appointments for your consideration: <br />Position <br />2024 <br />2025 Recommended <br />1. President <br />Dale Stoesz <br />Chris Lyden <br />2. Vice President <br />Chris Lyden <br />Mike Ruhland <br />3. Treasurer <br />Mike Ruhland <br />Tony Cavegn <br />4. Secretary <br />Community Development <br />City Clerk <br />Director <br />5. Assistant Treasurer <br />Finance Director <br />Finance Director <br />6. Executive Director <br />City Administrator <br />City Administrator <br />7. Official Newspaper <br />Quad Community Press <br />Quad Community Press <br />8. Legal Depositories <br />First Resource Bank <br />First Resource Bank <br />LMC 4M Fund <br />LMC 4M Fund <br />PMA Financial Networks <br />PMA Financial Networks <br />PMA Securities <br />PMA Securities <br />Moreton Capital Markets <br />Moreton Capital Markets <br />US Bank <br />US Bank <br />