04-27-2022 EDAM
EDA Board Meeting
Hutchinson Enterprise Center
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11:30 AM Wednesday, April 27, 2022
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MEETING MINUTES
Economic Development Authority
Members present in bold.
Financial Summary as of March 2022
Operations
EDA Board Members
Cash Available $109,552
Mike McGraw
Reserved $56,736
Jonny Block
Unreserved $49,181
Mike Cannon
Corey Stearns Economic Development Loan Fund
Chad Czmowski Cash Available $155,769
Mary Christensen
Zephyr Wind Services $71,978
Jeremy Carter
Laser Dynamics Balance (forgivable) $23,000
Innovative Foam Balance (forgivable) $14,355
Staff
Advances to other funds (Enterprise $246,052
Center)
Miles Seppelt, EDA Director
Matt Jaunich, City Administrator
Downtown Revolving Loan Fund
Andy Reid, Finance Director
Cash Available $436,643
Maddie Newcomb, EDA Program Manager
Loans Receivable $308,998
Capital Assets $201,329
Guest Total Assets $1,083,883
Jenny Zhu
MIF Loan Fund
Cash Available $7,075
I. Call to Order
MOXY Loan Receivable $10,242
Meeting called to order at 11:30 AM.
Enterprise Center Fund
Cash Available $41,136
II. Review Agenda
SHOPKO TIF District (TIF 4-5)
Cash Available $291,432
III. Review Minutes
Interfund Loans Receivable $397,785
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MEDICAL CLINIC TIF District (TIF 4-16)
a. March 16 Finance Team meeting
Interfund Loan Payable $260,412
M/S/P: Stearns, Christensen to approve
the minutes as written. Passed
unanimously.
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b. March 23 EDA Board Meeting
M/S/P: Block, Stearns to approve the minutes as written. Passed unanimously
IV. Review of EDA Financial Statements
Staff provided an update on the EDA financials. (Please refer to table)
M/S/P: Stearns, Czmowski to approve the financial reports as presented. Passed unanimously.
V.
A. Marketing Plan: FB = 736, T = 98, Facebook updates = 11, Twitter updates = 11, Website updates = 1
B. Business recruitment / expansions Staff provided an update on recent prospects and ongoing
conversations.
C. River House per contractor: opening end of May.
D. Jorgenson Hotel currently doing some architectural work, Fall 2022 project - 9 months to completion.
E. Gold Coin work to start this summer, working on design plan.
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F. Employee Retention Workshop (April 13) 27 attendees, good feedback overall.
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G. Tiger MFG (April 19 workshop) Staff attended the Eleva-Strum Cardinal MFG workshop and will try to
implement some ideas/action items with Tiger MFG.
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H. ISD 423 Superintendent Dan Deitte coming from Minneota Public Schools, will start July 1.
I. Liz Danielson orientation visit new County EDA Coordinator came to tour Hutchinson.
J. Laser Dynamics pursuing conversations for the next step in their business.
K. FireLake Manufacturing need to make about $100k in leasehold improvements to the 20,000 sf HWY 7
East building. This would include all utilities. Working with SWIF and the MMDC about funding the project,
will bring back next month with more information.
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L. UPONOR Event May 6 converted office space to high bay manufacturing, pipe cutting ceremony on
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May 6 to officially open the new area.
VI. Hutch Uptown Commons (Franklin Redevelopment)
A. Project Update: site plan / DNR meeting
75 units (developer would like 80). First floor garage, then 3 stories of apartments
Staff met with DNR, that went well. No concern on their part on height of the building or lot
coverage, but project will need a variance to allow the height.
Property will be rezoned to a Planned Unit Development (PUD)
Next step is to meet with the property owners and the relocation consultant, and then utility
relocation needs to happen.
Discussion on if the trail segment is part of this project now or if that waits.
B. Authorization for Relocation Consultant
M/S/P: Block, Stearns wo authorize the hiring of a relocation consultant at a cost not to exceed $15,200.
Funding to come from the SHOPKO TIF District. Passed unanimously.
C. TIF District
New TIF District is needed due to being outside the time allowed to expand the current TIF
This would allow us to pool up to 25% of the tax increment from one TIF to another. New TIF
would need to be established before any purchasing.
Discussion on possible funding model with ARPA dollars
Staff is obtaining a new estimate on the amount of TIF the project could generate.
VII. Potential Industrial Park Projects
A. Central Hydraulics
Currently renting from Quade, but need more space
This would be a commercial project that would not qualify for incentives.
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Looking at the 5.7-acre Goebel Lot on 5 Ave SE, priced at $248, 531
Company is currently talking with builders and discussing next steps.
Discussion on whether we look into buying about 18 acres east of Warrior to expand the Industrial
Park. This could occur if the Goebel Lot sale goes through. Could possibly use ARPA funds to
extend utilities.
B. Quade Building
Warehouse project for seed genetics company
About 30,000 sq. ft building, with offices, warehouse and research area.
Discussion on building type and incentives
Consensus is to require them to have a steel framed building to be eligible to build in the industrial
park.
VIII. Grant & Loan Program Applications
Sign & Awning Grant Program
Robert McCarthy $1,690
140 Main St S
M/S/P: Cannon, Christensen to approve the sign and awning grant in the amount of $1,690. Passed
unanimously.
Façade Improvement Matching Grant Program
Robert Schlueter $7,500
133 Main St S
M/S/P: Block, Stearns to approve the sign and awning grant in the amount of $7,500. Passed unanimously.
IX. Other Business None.
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X. Set Next Meeting 11:30 AM Wednesday, May 25, 2022
XI. Adjourn M/S/P: With no further business to attend to, the meeting adjourned at 12:28 pm.
Respectfully Submitted,
Madison Newcomb
EDA Program Manager