08-28-2019 EDAM
EDA Board Meeting
Main Conference Room – Enterprise Center
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11:30 AM Wednesday, August 28, 2019
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MEETING MINUTES
Members present in bold.
Economic Development Authority
Financial Summary as of July 2019
EDA Board Members
Operations
Cash Available $131,691
Mike McGraw
Reserved $56,736
Jonny Block
Unreserved $73,285
Mike Cannon
Economic Development Loan Fund
Corey Stearns
Cash Available $139,389
Daron Vanderheiden
Redline Systems Balance $7,592
Chad Czmowski
Ashwill Industries Balance $8,097
Mary Christensen
Laser Dynamics Balance (forgivable) $23,000
Jeremy Carter
Innovative Foam Balance (forgivable) $14,355
Advances to other funds (Enterprise Center) $292,146
Staff
Downtown Revolving Loan Fund
Miles Seppelt, EDA Director
Cash Available $560,700
Matt Jaunich, City Administrator
Loans Receivable $360,139
Andy Reid, Finance Director
Capital Assets $157,195
Maddie Newcomb, EDA Program Manager
Total Assets $1,122,168
MIF Loan Fund
Cash Available $3,160
I. Call to Order
MOXY Loan Receivable $17,144
Meeting called to order at 11:30 AM.
Enterprise Center Fund
II. Approve Agenda
Cash Available $28,042
SHOPKO TIF District (TIF 4-5)
III. Review Minutes
Cash Available $148,479
Interfund Loans Receivable $478,307
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a. July 24 Finance Team meeting:
MEDICAL CLINIC TIF District (TIF 4-16)
M/S/P: Stearns, Cannon to
Interfund Loan Payable $311,459
approve the minutes as written.
Passed unanimously.
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b. July 31 EDA Board Meeting
M/S/P: Christensen, Czmowski 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: Vanderheiden, Block to approve the financial report as presented. Passed unanimously.
V. Director’s Report
A Marketing Plan Facebook updates = 5 Twitter activity = 5 Website updates = 0
Social media has 317 likes on Facebook and 87 followers on Twitter.
B Business Recruitment / Expansions Staff updated the board on recent contacts and conversations.
C Uponor Street Project Project almost completed, street should be open first week of
September.
D DALADO Property Toured the property with a local manufacturer.
E Clinic Site Redevelopment Appraisals are underway for the 5 houses in the area.
F Warrior Mfg. Expansion Construction underway, groundbreaking ceremony took place.
G TigerPath Parents Guide Staff working with school officials to put together a booklet for parents.
H Zephyr Wind Services City Council approved loan, working on legal documents.
I Civil Air Patrol Base Looking for a location for a training base. Hutchinson is a strong
candidate.
J Cenex Site Redevelopment w/ Trident Not moving forward.
VI. Trident Development / Cenex Site Post Mortem
Not enough demand for a memory/assisted living facility.
Market won’t support the needed rent for independent living.
Project is dead for now, but staff will talk with the Developer after the new year to see if a
way forward can be identified.
VII. Industrial Park Prospect
Staff provided an update on the prospect.
Discussion of options for incentives.
No decisions made.
VIII. Hutchinson as Location for Annual Skilled Workforce Conference?
Discussion of possibility of making the Skilled Workforce Conference an annual event.
Would be very similar to Worthington’s annual Bioscience Conference.
Presents an opportunity to build Hutchinson’s reputation as a center for skilled workforce
development.
IX. Grant & Loan Program Applications
Sign & Awning Grant Program
Ward Law Office – Steven Ward $1,000
113 Main Street South (Not yet considered by FT)
M/S/P: Block, Cannon to approve the grant application. Passed unanimously.
X. Other Business – None.
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XI. Set Next Meeting – 11:30 AM Wednesday, September 25, 2019
XII. Adjourn Meeting adjourned at 12:45pm.
M/S/P: Czmowski, Christensen to adjourn the meeting. Passed unanimously.
Respectfully Submitted,
Madison Newcomb, EDA Program Manager