12-21-2023 EDAM EDA Board Meeting
Hutchinson Enterprise Center
11 :30 AM Thursday, December 21st, 2023
MEETING MINUTES
Members present in bold.
EDA Board Members
Mike McGraw Cash Available $273,893
Jonny Block
Mike Cannon Reserved $56,736
Corey Stearns Unreserved $211,840
Chad Czmowski
Pat May Cash Available $196,703
Jack Daggett Zephyr Wind Services $48,710
Jeremy Carter FireLake Mfg. $28,868
Staff Laser Dynamics Balance(forgivable) $23,000
Miles Seppelt, EDA Director Innovative Foam Balance(forgivable) $14,355
Matt Jaunich, City Administrator
Andy Reid, Finance Director Cash Available $424,677
I. Call to Order
Loans Receivable $297,332
Meeting called to order at 11:36 AM. Capital Assets $201,329
Total Assets $1,065,540
II. Review Agenda—no action
Cash Available $12,851
III. Review Minutes MOXY Loan Receivable $5,482
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a. November 15th Finance Team meeting INNIM
M/S/P: Cannon, Stearns to accept the minutes as Cash Available $39,556
written. Passed unanimously.
b. November 29th EDA Board Meeting
M/S/P: Czmowski, McGraw to accept the minutes as Cash Available $0.00
written. Passed unanimously Interfund Loans Receivable $418,793
IV. Review of EDA Financial Statements (Please refer to table)
M/S/P: Cannon, Stearns to accept the financial report as presented. Passed unanimously.
V. Director's Report
A. Marketing—868 (not 850)Facebook follows/11 FB updates and 3 website updates for the month
B. Business recruitment/expansions—Staff provided an update on recent conversations and ongoing
conversations.
C. GVL Medical, LLC has closed on their purchase of Laser Dynamics. They're purchasing some new
equipment and hiring new staff.
D. Human Resources Roundtable was held last week, about 10 in attendance.
E. Rite Way Conveyors—will be shutting down at the end of the month. Two interested manufacturers have
toured the building,which is owned by Systems-West builders.
F. Jorgensen Hotel—Developer is suggesting this will be a 2024 project. Existing building will need to be
demolished. Planning a 50-room hotel on the site, potentially four stories in height.
G. Enterprise Center painting—two quotes obtained, but these are very high. Staff will obtain a third quote.
H. VMF Field grandstand—City Council approved going out for bids for construction of a new, larger, covered
grandstand.
VI. Childcare Initiative
■ Staff proposed a project to create some new in-home childcare provider businesses.
■ This would involve a Facebook advertising campaign to recruit individuals who might be interested.
■ A cohort of interested individuals would be formed and several free workshops provided to walk them
through the process of establishing a child-care business.
■ Financial support for the new businesses could come from the Childcare Forgivable Loan Program.
■ The advertising would be funded through our existing marketing budget.
■ EDA Board approved of the proposal, however no formal action was taken.
VII. Clinic Redevelopment Site
■ Staff provided an update on the status of the clinic redevelopment site.
■ The current developer cannot move forward due to current economic conditions and concerns about the
number of vacancies at his existing Hutchinson apartments.
■ He remains very interested in this site and indicates he could move forward in two years,when economic
conditions are better.
■ The existing Development Agreement will lapse on December 3111, 2023. The property then reverts back
to the City.
■ Other developers are also interested in the site.
■ Options the Board considered were to either(A)stick with the current developer and give him more time,
or(B)update the RFP and offer the site to multiple developers.
■ Scoring for the RFP could include such factors as estimated market value of the project,time-line for
construction, etc.
■ To ensure that developers have more 'skin in the game'the idea of having the developer pay a certain
amount for the site was discussed,then, if the developer meets the timeline in their proposal, the City
would rebate that amount less$1. The net result being that the developer still gets the site of$1.
M/S/P: Cannon, Daggett to update the Request for Proposals(RFP)and distribute to multiple developers. Passed
unanimously.
Staff will bring the updated RFP to next month's meeting for final review.
Vill. EDA Strategic Plan
Staff summarized potential strategies and action items for Business Incubation, Business Attraction, Downtown
Redevelopment and Marketing Hutchinson.
Discussion.
The Board agreed with the proposed strategies. Staff will finalize the Economic Development Strategic Plan and
bring it back next month for adoption.
IX. Grant& Loan Program Applications—NONE
X. Other Business—NONE
XI. Set Next Meeting—11:30 AM Wednesday, January 24,2024
XII. Adjourn—M/S/P: Czmowski, Daggett to adjourn the meeting at 12:44 PM. Passed unanimously.
Respectfully Submitted,
Miles R. Seppelt
Economic Development Director