12-19-2019 EDAM
EDA Board Meeting
Main Conference Room – Enterprise Center
11:30 AM Thursday, December 19, 2019
____________________________________________________________________________
MEETING MINUTES
Economic Development Authority
Members present in bold.
Financial Summary through November 2019
Operations
EDA Board Members
Cash Available $157,814
Reserved $56,736
Mike McGraw
Unreserved $100,600
Jonny Block
Economic Development Loan Fund
Mike Cannon
Cash Available $43,091
Corey Stearns
Redline Systems Balance $6,826
Daron Vanderheiden
Ashwill Industries Balance $7,082
Chad Czmowski
Zephyr Wind Services $98,966
Mary Christensen
Laser Dynamics Balance (forgivable) $23,000
Jeremy Carter, ex-officio
Innovative Foam Balance (forgivable) $14,355
Advances to other funds (Enterprise Center) $292,146
Downtown Revolving Loan Fund
Staff
Cash Available $551,201
Miles Seppelt, EDA Director
Loans Receivable $361,504
Matt Jaunich, City Administrator
Capital Assets $201,329
Andy Reid, Finance Director
Total Assets $1,114,035
Maddie Newcomb, EDA Program Manager
MIF Loan Fund
Cash Available $4,142
I. Call to Order
MOXY Loan Receivable $16,192
Meeting called to order at 11:33 AM.
Enterprise Center Fund
II. Approve Agenda
Cash Available $31,729
SHOPKO TIF District (TIF 4-5)
III. Review Minutes
Cash Available $148,538
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a. October 16 Finance Team
Interfund Loans Receivable $478,307
meeting:
MEDICAL CLINIC TIF District (TIF 4-16)
M/S/P: Cannon, Stearns to approve
Interfund Loan Payable $311,459
the minutes as written. Passed
unanimously.
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b. October 23 EDA Board Meeting
M/S/P: Czmowski, Christensen to approve the minutes as written. Passed unanimously
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c. November 20 Finance Team meeting
M/S/P: Stearns, Cannon 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)
EDA should end the year in the black.
M/S/P: Block, Czmowski to approve the financial report as presented. Passed unanimously.
V. Director’s Report
A Marketing Plan Facebook updates = 6 Twitter activity = 6 Website updates = 0
Social media has 326 likes on Facebook and 90 followers on Twitter.
B Business Recruitment / Expansions Staff updated the board on recent contacts and conversations.
C BR & E visits Staff provided updates on visits to local companies.
D Uponor Street Project Obtaining UPONOR employment info for DEED to get reimbursed for
the project.
E DALADO Property Purchased by local investment group.
F Clinic Site Redevelopment FEMA grant submitted. Being reviewed at State level.
G Civil Air Patrol Base Development agreement being negotiated.
H TigerPath Staff reported on conferences attended, TigerPath 2.0 Conference,
Jacket Manufacturing, Heart of America Foundation opportunity &
EDAM Summer conference presentation.
VI. Company Prospect
Staff provided an update on the status of the company.
Discussion of the opportunity it would represent for Hutchinson
Discussion of possible incentives and resources we can utilize.
M/S/P: Cannon, Block to authorize sale of the proposed lot for $1 along with $100,000 for site
improvements. Passed unanimously.
VII. Consider Downtown Program Updates
A. Sign & Awning Grant Program
B. Commercial Rehabilitation Loan Program
Staff reviewed proposed modifications for both programs. Discussion followed.
M/S/P: Stearns, Christensen to adopt the proposed rules changes for both programs.
VIII. Hutchinson EDA 2020 Budget
Staff provided an overview of the proposed EDA 2020 budget. Discussion.
M/S/P: Czmowski, Cannon to adopt the proposed budget for 2020. Passed unanimously.
IX. Enterprise Center 2020 Budget
Staff provided an overview of the proposed 2020 budget for the Enterprise Center. Discussion
followed.
M/S/P: Czmowski, Cannon to adopt the proposed budget for 2020. Passed unanimously.
X. Grant & Loan Program Applications
Sign & Awning Grant Program
Healthsource Chiropractic – Adam Fink $1,000
233 Hassan Street S.
M/S/P: Cannon, Christensen to approve the grant request. Passed unanimously.
Outdoor Motion – Chad Czmowski $640
141 Main Street South
M/S/P: Cannon, Stearns to approve the grant request. Czmowski abstained. Passed
unanimously.
Façade Improvement Grant
Outdoor Motion Bldg. – Brett Oman $2,215
1414 Main Street S.
M/S/P: Block, Stearns to approve the grant request. Czmowski abstained. Passed
unanimously.
XI. Other Business
A. Board members requested an update on the progress of Enterprise Center companies.
Staff will provide a detailed report next month & invite Jessi Boike, SBDC Counselor, to
attend as well.
B. Discussion of transferring dollars from the MIF Loan Fund to the Enterprise Center Fund to
reimburse for the cost of the monument sign. Item to be placed on next month’s agenda.
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C. Miles on vacation December 23 - January 3
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XII. Set Next Meeting – 11:30 AM Wednesday, January 22, 2020.
XIII. Adjourn
M/S/P: Stearns, Czmowski to adjourn the meeting at 12:52 PM. Passed unanimously.
Respectfully Submitted,
Miles R. Seppelt
EDA Director