The Taconite Capital of the World

City of Mountain Iron, Minnesota

Economic Development Authority Meeting Minutes for January 06, 2016

Mountain Iron Economic Development Authority

Regular Meeting Minutes

January 6, 2016


A meeting of the Mountain Iron Economic Development Authority was called to order by Barb Fivecoate at 5:32 p.m. with the following members present: Barb Fivecoate, Sue Tuomela, Peter Zattoni, Mary Jacobsen, Bob Voss and Andrea Wilson.  Absent members: Tony Zupancich.  Also present: Executive Director, Craig Wainio, Gary Cerkvenik, Jong Ling and John Carroll.


Jacobson moved and Voss seconded to approve the consent agenda.  Motion carried 6-0 on a roll call vote.


Ling, Carroll and Cerkvenik updated the Board on Silicon Energy and the restructuring of the loan with the IRRRB and the lease with the EDA.  Fivecoate moved and Jacobsen supported to restructure the lease between the EDA and Silicon Energy to have lease payments of $35,000 for 2016 and 2017.  Motion carried 6-0.  Jacobsen moved and Fivecoate supported to recommend that the City Council abate the City’s portion of the property taxes for ten years.  Motion carried 6-0.


Jong also discussed to workforce housing project on the Rock Ridge development.


Wainio updated the Board on the project we are working with Rockie and County Road 7 development.


Voss moved and Tuomela supported to adjourn the meeting at 6:30 p.m.  Motion carried unanimously.


Respectfully submitted by:


Craig J. Wainio

Executive Director