03-27-2019 EDAM
EDA Board Meeting
Main Conference Room – Enterprise Center
th
11:30 AM Wednesday, March 27, 2019
____________________________________________________________________________
MEETING MINUTES
Members present in bold.
Economic Development Authority
Financial Summary as of February 2019
EDA Board Members
Operations
Cash Available $108,897
Mike McGraw
Reserved $56,736
Jonny Block
Unreserved $51,688
Mike Cannon
Economic Development Loan Fund
Corey Stearns
Cash Available $122,337
Daron Vanderheiden
Redline Systems Balance $9,098
Chad Czmowski
Ashwill Industries Balance $9,345
Mary Christensen
Laser Dynamics Balance (forgivable) $23,000
Innovative Foam Balance (forgivable) $14,355
Downtown Revolving Loan Fund
Staff Cash Available $513,579
Miles Seppelt, EDA Director Loans Receivable $414,897
Matt Jaunich, City Administrator Capital Assets $201,329
Andy Reid, Finance Director Total Assets $1,129,804
Maddie Newcomb, EDA Program Manager
MIF Loan Fund
Cash Available $1,479
MOXY Loan Receivable $18,334
Enterprise Center Fund
Cash Available $30,753
I. Call to Order
SHOPKO TIF District (TIF 4-5)
Meeting called to order at 11:32 AM.
Cash Available $147,228
Interfund Loans Receivable $478,307
II. Approve Agenda – no action.
MEDICAL CLINIC TIF District (TIF 4-16)
Interfund Loan Payable $311,459
III. Review Minutes
th
a. February 20 Finance Team meeting:
M/S/P: Stearns, Cannon to approve the minutes as written. Passed unanimously.
th
b. February 27 EDA Board Meeting
M/S/P: Block, Christensen to approve the minutes as written. Passed unanimously.
IV. Review of EDA Financial Statements
Finance Director Andy Reid provided an update on the EDA financials. (Please refer to table)
M/S/P: Czmowski, Block to approve the financial report as presented. Passed unanimously.
V. Director’s Report
A Marketing Plan Facebook updates = 4 Twitter activity = 4 Website updates = 11
Social media has 303 likes on Facebook and 85 followers on Twitter.
B Business Recruitment / Expansions Staff updated the board on recent contacts and conversations.
C Uponor Street Project DEED application to hopefully be submitted this week, right of way being
conveyed to the City is still in progress.
D Farmer’s Market Update Albert Tharin has been hired as the Executive Director, approval from
Secretary of State has been obtained.
E Skilled workforce development plan Tours and Conferences have been well received.
VI. Discuss redevelopment of the DALADO property
Staff presented some ideas on how the DALADO property could be redeveloped.
Discussion followed.
VII. Appointment of Ben King to Finance Team
Attorney at Kraft-Walser, interested in being on the Finance Team
Is involved in many other organizations around the community.
Initial term would be 1 year
Would give us 9 members on the Finance Team.
M/S/P: Czmowski, Block, to appoint Ben King to the Finance Team for a 1-year term. Passed
unanimously.
VIII. Ex-officio member to EDA Board
Jeremy Carter at Hutchinson Utilities to be considered as an Ex-officio member
A big point for Site Selectors is community collaboration.
M/S/P: Block, Vanderheiden to appoint Jeremy Carter as an ex-officio, non-voting member to the
EDA Board. Passed unanimously.
IX. Hutchinson Economic Development Resource Profile
Marketing on our website for Site Selectors to reference.
Very few communities have this information readily available to find on their website.
X. Grant & Loan Program Applications - NONE
XI. Other Business – Czmowski brought up the requirement of 2 bids for the Sign & Awning
Grant, discussion on whether that could be changed. No action at this time.
th
XII. Set Next Meeting – 11:30 AM Wednesday, April 24, 2019
XIII. Adjourn Meeting adjourned at 1:32pm.
M/S/P: Christensen, Cannon to adjourn the meeting. Passed unanimously.
Respectfully Submitted,
Madison Newcomb
EDA Program Manager