Title
Approving the June 12, 2019 HRA Board meeting minutes
Body
ROLL CALL
Present 6 - Commissioners Brendmoen, Busuri, Jalali Nelson, Noecker, Thao and Chair Tolbert
Absent 1 - Commissioner Prince
CONSENT AGENDA
1. Approving the April 24, 2019 HRA Board meeting minutes
Adopted as set forth in MIN 19-24
2. Approving the May 8, 2019 HRA Board meeting minutes
Adopted as set forth in MIN 19-25
3. Approving the May 22, 2019 HRA Board meeting minutes
Adopted as set forth in MIN 19-26
Moved by Commissioner Thao, Consent Agenda Adopted
VOTE: Yeas - 6 Nays - 0
FOR DISCUSSION
4. Authorizing a loan up to $120,000 from the HRA Business Assistance fund to Upsie, 370 Wabasha St. N., District 17, Ward 2
Dr. Bruce Corrie, HRA Executive Director, stated that Upsie is a well-known local start-up tech company interested in locating in Osborn 370 especially with the energy we are focusing around Full Stack. The founder, Clarence Bethea, received a lot of attention locally ranging from the Minnesota Cup to Target Techstars program.
Recently Upsie announced a $5 million in Series A capital funding from investors in Minneapolis and Silicon Valley. He is very much interested in mentoring the next generation of tech leaders. In addition to locating in Osborn 370, Upsie will help build an emerging cluster of insurance based tech companies in Saint Paul. Earlier this year, the OnRamp Insurance Accelerator launched in Osborn 370 and will be investing $100,000 in 5 companies related to the insurance industry. Our Project Manager, Mary Rick, has worked hard on this project and brings the recommendation to offer a forgivable loan of $120,000 contingent on job creation.
Chair Tolbert shared his excitement for this project. And thanked Mary Rick for all her hard work on this project.
Clarence Bethea, Upsie Founder, shared history and plans of Upsie.
Moved by Commissioner Noecker, Resolution Adopted and set forth in RES 19-950
VOTE: Yeas - 6 Nays - 0
5. Amend the 2019 HRA Parki...
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