04-25-2018 EDAM
EDA Board Meeting
Main Conference Room – Enterprise Center
th
11:30 AM Wednesday, April 25, 2018
____________________________________________________________________________
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
Andy Reid, Finance Director
Meagan Donahue, EDA Program Manager
I. Call to Order
Vice-President Jonny Block called the Board
Economic Development Authority
to order at 11:34 AM.
Financial Summary as of April 2018
Operations
II. Approve Agenda – no action.
Cash Available $115,074
Reserved $56,736
III. Review Minutes
Unreserved $55,492
st
March 21 Finance Team meeting.
Economic Development Loan Fund
Cash Available $99,117
M/S/P: Cannon, Stearns to approve the
Redline Systems Balance $11,521
minutes as written. Passed unanimously.
Ashwill Industries Balance $12,230
Laser Dynamics Balance (forgivable) $23,000
March 29th EDA Board meeting.
Innovative Foam Balance (forgivable) $14,355
Downtown Revolving Loan Fund
M/S/P: Block, Christensen to approve the
Cash Available $450,981
minutes as written. Passed unanimously.
Loans Receivable $464,055
Capital Assets $201,329
IV. Review of April EDA Financial
Total Assets $1,116,365
Statements MIF Loan Fund
Cash Available $16,568
NuCrane Loan Receivable $16,865
City Finance Director Andy Reid provided an
Enterprise Center Fund
update on the EDA financials. (see table)
Cash Available $8,059
Expenditures (Ebert Construction) $27,014
SHOPKO TIF District (TIF 4-5)
M/S/P: Stearns, Czmowski to approve the
Cash Available $1,436
financial report as presented. Passed
Interfund Loan Receivables $480,497
unanimously.
Expenditures $
MEDICAL CLINIC TIF District (TIF 4-16)
Interfund Loan Payable $300,257
V. Director’s Report
A. Marketing Plan Report:
Facebook updates = 12
Twitter activity = 12, Website updates = 0
Social media effort has
277 likes on Facebook and 76 followers on Twitter.
B. Business Recruitment / Expansions – staff updated the board on recent contacts and
conversations. Warrior Manufacturing is looking to expand by building a 20,000-30,000 sf
warehouse on their lot. This expansion could bring 5-10 jobs over the next 5 years.
C. Hotel Project
With late winter weather causing set backs, they are hoping to open the doors in
August.
D. UPONOR – MIF Grant application approved / JCF application Driveway update
E. Hutchinson Enterprise Center – Need to complete MMB items.
F. Skilled Workforce Development Plan – applying for YST Grant of $100K
G. Ashwill Loan – Automatic payments set up.
VI. Business Subsidies Criteria
Review and discussion of Business Subsidies Policy
M/S/P: Cannon, Block moved to approve the updated policy. Passed unanimously.
VII. Cenex COOP
Cenex COOP is interested in renting or purchasing the land between the elementary
school and the existing COOP. Preference is to sell the land, rather than renting it out.
Sale price would be what the EDA has into it: $151,483.15.
M/S/P: Czmowski, Stearns to agree to the sale of the land to Hutchinson COOP for
$151,483.15. Passed unanimously.
VIII. Request for Loan Subordination – Wells Fargo
Owners are Brett and Maria Oman at 130 & 141 Main Street South. Loans have a fairly
small balance – might be easier for all concerned to simply pay off the loans.
M/S/P: Cannon, Christensen to approve the loan subordination. Passed unanimously.
IX. EDA Strategic Planning
Discussion of:
Downtown
Depot Site
Future of the Farmer’s Market
Possible annual financial support for the Farmer’s Market was discussed. Staff would take steps
to (a) form a non-profit, (b) identify a Board of Directors, (c) Set up an initial set of by-laws, etc. to
Establish the Hutchinson Farmer’s Market as a separate entity apart from the Downtown
Association.
M/S/P: Block, Christensen moved to start the process of turning the farmers market into a
separate non-profit entity. Passed unanimously
X. Grant & Loan Program Applications – None.
XI. Other Business –
Brief update on Mike McGraw
Miles has been invited to join Board of Directors of the Minnesota Economic
Development Association.
rd
XII. Set Next Meeting – 11:30 AM Wednesday, May 23, 2018
XIII. Adjourn
M/S/P: Cannon, Czmowski to adjourn the meeting at 12:47 PM. Passed unanimously.
Respectfully Submitted,
Miles R. Seppelt
Economic Development Director