Item 3.10 Bank of Elk River and FHLB Member Impact Fund Donation
Request for
City Council Action
DEPARTMENT INFORMATION
ORIGINATING DEPARTMENT REQUESTOR: MEETING DATE:
Emergency Services Emergency Services Director Rausch July 14, 2025
PRESENTER(s) REVIEWED BY: ITEM #:
Consent City Administrator/Finance Director Flaherty 3.10 – Accept Donation
STRATEGIC VISION
MEETS: THE CITY OF OTSEGO:
Is a strong organization that is committed to leading the community through innovative communication.
Has proactively expanded infrastructure to responsibly provide core services.
Is committed to delivery of quality emergency service responsive to community needs and expectations in a
cost-effective manner.
Is a social community with diverse housing, service options, and employment opportunities.
X Is a distinctive, connected community known for its beauty and natural surroundings.
AGENDA ITEM DETAILS
RECOMMENDATION:
City staff recommend the City Council adopt a resolution accepting a donation.
ARE YOU SEEKING APPROVAL OF A CONTRACT? IS A PUBLIC HEARING REQUIRED?
No No
BACKGROUND/JUSTIFICATION:
In the spring of 2025, the Bank of Elk River met with City staff to discuss a grant opportunity for community
development. After meeting with City staff to discuss needs within the community, the Bank of Elk River graciously
submitted an application and pledged $2,500 in support of the application.
In June, the Bank of Elk River informed City staff that the application was successful, and that a total grant in the
amount of $10,000 was awarded to the City of Otsego to support the development of the Fire & Emergency Services
Department.
The grant funding is a combination of the Bank of Elk River pledging $2,500 and the Federal Home Loan Bank (FHLB)
Member Impact Fund contributing $7,500. The Bank of Elk River presented this award to the City on June 27.
The City of Otsego is grateful for the Bank of Elk River’s contribution and commitment to the community and look
forward to continuing this partnership for many years.
SUPPORTING DOCUMENTS ATTACHED:
• Resolution 2025-30
POSSIBLE MOTION
PLEASE WORD MOTION AS YOU WOULD LIKE IT TO APPEAR IN THE MINUTES:
Motion to adopt Resolution 2025-30 accepting a donation from the Bank of Elk River and the Federal Home Loan Bank
Member Impact Fund.
BUDGET INFORMATION
FUNDING: BUDGETED:
N/A N/A
1
CITY OF OTSEGO
COUNTY OF WRIGHT
STATE OF MINNESOTA
RESOLUTION NO: 2025-30
ACCEPTING A DONATION FROM THE BANK OF ELK RIVER AND
FEDERAL HOME LOAN BANK (FHLB) MEMBER IMPACT FUND
WHEREAS, the Bank of Elk River submitted an application to the Federal Home Loan Bank (FHLB) Member Impact Fund to
support the development of the Fire & Emergency Services Department and pledged $2,500 in support of the application; and
WHEREAS, the grant application was accepted and approved by the FHLB Member Impact Fund; and
WHEREAS, the FHLB Member Impact Fund provided a contribution of $7,500 with their acceptance and approval of the
application; and
WHEREAS, a total grant donation in the amount of $10,000 was presented to the City of Otsego on June 27, 2025; and
WHEREAS, the City of Otsego sincerely thanks the Bank of Elk River and the FHLB Member Impact Fund for their generous
donation and for their support of the community.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF OTSEGO, MINNESOTA:
1. That the donation from the Bank of Elk River and Federal Home Loan Bank Member Impact Fund in the amount of
$10,000 has been hereby accepted.
ADOPTED by the Otsego City Council this 14th day of July, 2025.
MOTION BY:
SECONDED BY:
IN FAVOR:
OPPOSED:
CITY OF OTSEGO
__________________________________
Jessica L. Stockamp, Mayor
ATTEST:
__________________________________
Audra Etzel, City Clerk