04-26-2017 EDAM
EDA Board Meeting
Main Conference Room – City Center
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11:30 AM Wednesday, April 26, 2017
____________________________________________________________________________
Members present in bold.
MEETING MINUTES
Members
Mike Cannon Corey Stearns Daron Vanderheiden Chad Czmowski
Mary Christensen Mike McGraw Jonny Block
Staff
Miles Seppelt, EDA Director
Matt Jaunich, City Administrator
Andy Reid, Finance Director
Jeff Page, EDA Program Assistant
Economic Development Authority
Financial Summary as of March 31, 2017
Operations
I. Call to Order
Cash Available $119,450
Reserved $56,736
Vice-President Block called the meeting to
Unreserved $61,799
order at 11:37 AM.
Economic Development Loan Fund
Cash Available $437,104
II. Approve Agenda
Loan 1 Balance $14,522
Loan 2 Balance $14,752
III. Review Minutes
Downtown Revolving Loan Fund
Cash Available $367,762
nd
Loans Receivable $555,024
A. March 22 Finance Team
Capital Assets $201,329
Meeting
Total Assets $1,107,226
M/S/P: Cannon, Stearns to MIF Loan Fund
approve the minutes as written. Cash Available $203,037
Passed unanimously. Loan Receivable $88,981
Enterprise Center Fund
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B. March 29 EDA Board Meeting
Cash Available $688,533
Expenditures (Building) $23,862
M/S/P: Block, Christensen to
SHOPKO TIF District (TIF 4-5)
approve the minutes as written.
Cash Available $247,209
Passed unanimously.
Interfund Loan Receivables $288,958
Expenditures $0
MEDICAL CLINIC TIF District (TIF 4-16)
IV. Review of February EDA Financial
Interfund Loan Payable $288,958
Statements
Finance Director reviewed the EDA financials for the benefit of the Board. EDA Director noted the
following:
$5,000 support for SWIF has been disbursed.
NuCrane continues to make payments of their loan.
Discussion followed.
M/S/P: Vanderheiden, Stearns to approve the financial report as presented. Passed unanimously.
V. Director’s Report
A. Marketing Plan Report:
o Facebook updates = 14, Twitter activity = 14, Website updates = 0
o Social media effort has 194 likes on Facebook and 64 followers on Twitter.
B. Business recruitment / expansions: Staff provided an update on recent prospects and ongoing
conversations.
C. Old Medical Clinic Redevelopment – no update.
D. Hotel Project – Purchase & development agreements have been signed. Developer intends to
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begin construction by September 15.
E. Workforce Development Plan
o EDA staff was part of a panel at the St. Cloud Area Talen Summit – it generated much
discussion and positive feedback among attendees
o Hutchinson has been asked to present its plan at the upcoming summer conference of
the Economic Development Association of Minnesota.
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F. McLeod Vitality – Commissioners Wright & Nagel hosted an event in Glencoe on April 20 to
spur discussion about the McLeod County economy.
VI. Hutchinson Enterprise Center
Staff provided an update on the parking lot excavation and why there was no savings to
realized by not excavating and utilizing the existing soils.
o Turns out the excavation contractor bid the work incorrectly, assuming that the
existing soils were to be used all along.
Laser Dynamics leasehold improvements – staff indicated they were still collecting
information and would bring this topic back next month.
Discussion of Dick McCLure’s concerns regarding tenants. Staff indicated that our goal is
to “build companies, not rent space” so we would not be competing with Mr. McClure for
businesses.
VII. Van or Hutchinson Enterprise Center
Staff briefly summarized the rationale and projected costs for obtaining the old I-T van for
use at the Hutchinson Enterprise Center.
M/S/P: Cannon, Vanderheiden to authorize acquisition of the old I-T van for use at the Hutchinson
Enterprise Center. Passed unanimously.
VII. DEED Marketing Piece (Year 3)
Discussion as to whether the EDA should participate in the DEED “Minnesota Thriving in
the North” magazine
Staff will obtain information on half-paqe ad sizes compared to full-page ads.
VIII. Consider Bid for Hay Land
Mr. Lyle Schmidt had the high bid for the city industrial park hay land agricultural license at $36 /
acre ($1,531.80 total)
M/S/P: Block, Vanderheiden to accept the bid from Mr. Schmidt.
IX. Grant & Loan Program Applications – None
X. Other Business – None
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XI. Set Next Meeting – 11:30 AM Wednesday, May 24, 2017.
XII. Adjourn
With no further business to attend to the meeting adjourned at 12:50 PM.
Respectfully Submitted,
Miles R. Seppelt
Economic Development Director