Present: John Peterka, Rod Femrite, Bonnie Schultz, Gary Astleford, Jan Flolid, Dave Zerr, Kip Emerson

Others Present: Angela Jacobson, Gary Larson

Absent: None

President John Peterka called the meeting to order at 4:00pm

Motion by Gary seconded by Dave to approve the agenda as presented, All Ayes.

Motion by Dave seconded by Rod to approve the General Consent Items, All Ayes.

Osakis Properties – No changes to the lots in Osakis Properties. Paul and Julie Backes put money on a lot in January of 2007. EDA would like Angela to send them a letter stating the lot will be open for others to purchase, but they would be given the first option to purchase the property if someone is interested.

West Central Initiative – The EDA board received the monthly loan report, a total of $154,000 in assets and liability.

By Laws – EDA members were to review the By Laws and suggest changes. EDA will review again at the March meeting.

OEDC – The EDA received a letter from the OEDC regarding a meeting on March 12 at 5:30pm at the Ed Pollard Community Center with Jason Murray regarding a Douglas County Economic Development Commission.

Integrated Manufacturing – They have been paid up on overdue rent and have been paying on time. They were sent the assessment for the new construction in the Industrial Park. It is not in the lease contract so they do not have to pay. Angela will check with the city attorney to see if Integrated Manufacturing would purchase the property if we can make him pay the assessment.

Business Subsidy Agreement – EDA would like Angela to check with Traci about updating the agreement.

Motion by Jan seconded by Dave to send the Business Subsidy Agreement to Traci to update and see if we need a public hearing to change, All Ayes.

Motion by Jan seconded by John to adjourn the meeting at 5:00pm, All Ayes.

Osakis Properties – Lot price updates, and TIF income updates

Next Meeting March 24^th , Jan will not be in attendance

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Angela A. Jacobson – City Clerk