09-27-2017 EDAM
EDA Board Meeting
Main Conference Room – City Center
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11:30 AM Wednesday, September 27, 2017
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Members present in bold.
MEETING MINUTES
EDA Board Members
Mike Cannon Corey Stearns Daron Vanderheiden Chad Czmowski
Mary Christensen Mike McGraw Jonny Block
Staff
Miles Seppelt, EDA Director
Matt Jaunich, City Administrator
Jeff Page, EDA Program Manager
Economic Development Authority
I. Call to Order
Financial Summary as of August 31, 2017
Operations
EDA President McGraw called the Board
Cash Available $141,999
to order at 11:32 AM.
Reserved $56,736
Unreserved $84,705
II. Approve Agenda – no action.
Economic Development Loan Fund
Cash Available $442,650
III. Review Minutes
Loan 1 Balance $12,697
Loan 2 Balance $13,617
A. August 23, 2017 EDA Board
Downtown Revolving Loan Fund
meeting.
Cash Available $440,687
Loans Receivable $482,562
M/S/P: Block, Christensen to
Capital Assets $201,329
approve the minutes as written.
Total Assets $1,124,578
Passed unanimously.
MIF Loan Fund
Cash Available $232,171
Loan Receivable $61,429
IV. Review of August EDA Financial
Enterprise Center Fund
Statements
Cash Available $347,028
Expenditures (Architect & Ebert Construction) $324,135
SHOPKO TIF District (TIF 4-5)
Staff reviewed the EDA financials.
Cash Available $321,044
Interfund Loan Receivables $297,103
M/S/P: Stearns, Cannon to approve the
Expenditures $0
financial report as presented. Passed
MEDICAL CLINIC TIF District (TIF 4-16)
unanimously.
Interfund Loan Payable $288,958
V. Director’s Report
A. Marketing Plan Report:
Facebook updates = 18, Twitter activity = 18, Website updates = 0
Social media effort has 240 likes on Facebook and 69 followers on Twitter.
B. Business Recruitment / Expansions – staff updated the board on recent contacts and
conversations.
C. Old Medical Clinic Redevelopment – Brian Forcier might have a contact for a brewpub.
D. UPONOR
Company has been cleaning up the building and the retrofitting process has begun.
Tax abatement is in place.
Development Agreement has been drafted and is currently under review by UPONOR.
Staff is working on the driveway-to-public-street project UPONOR has requested.
E. Hotel Project
Soils Condition TIF District was approved by the City Council last night.
Retaining wall / access road should be done by mid-October.
No environmental contamination encountered as yet.
Developer hopes to begin construction on the hotel in late October.
A ground-breaking ceremony will be scheduled for some time in mid-October.
F. Incubator Project
Building itself is about 95% done – interior framing has begun.
East parking lot did not need soil corrections.
$41,272 remains in the Contingency Budget.
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Site construction manager indicated he’s aiming to have the project done October 20.
Incubator Grant Reimbursement = $210,341 (27.5%)
$253,869 reimbursement request has been submitted to DEED.
G. Skilled Workforce Development Plan:
Funds collected = $851,150 (70.1%)
The old “400 wing” has been rechristened the “Center for Technical Excellence”
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Most of the equipment is in, with three big HAAS machines due on October 5.
Steering Committee is meeting monthly.
HutchTigerPath.com website is under development by Vivid Image and should be done
in 7-10 weeks.
VI. Commissioner Paul Wright
McLeod County Commissioner Paul Wright provided an update on county issues. Discussion
followed.
VII. Grant & Loan Program Applications – none.
Sign & Awning Grant Program
Bellina Ame Medspa – Ann Schwartz $820.77
134 Main St. S, Suite B (Marc & Michele Max Bldg)
M/S/P: Block, Stearns to approval of the grant application at $805.31 (the lesser of the bids
received). Passed unanimously.
VIII. Other Business – none.
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IX. Set Next Meeting – 11:30 AM Wednesday, October 25, 2017
X. Adjourn
M/S/P: Cannon, McGraw to adjourn the meeting at 12:49 PM. Passed unanimously.
Respectfully Submitted,
Miles R. Seppelt
Economic Development Director