03-27-2024 EDAM EDA Board Meeting
Hutchinson Enterprise Center
11 :30 AM Wednesday, March 27th, 2024
MEETING MINUTES
Members present in bold.
EDA Board Members I I I1
Operationsm
Mike McGraw Cash Available $197,340
Jonny Block Reserved $56,736
Mike Cannon Unreserved $167,707
Corey Stearns Economic Development Loan Fund
Chad Czmowski Cash Available $222,493
Pat May
Jack Daggett Zephyr Wind Services $45,085
Jeremy Carter FireLake Mfg. $27,740
Laser Dynamics Balance (partially forgiven) $0
Staff Innovative Foam Balance (12/1/2025) $8,355
Miles Seppelt, EDA Director Downtown Revolving Loam Fund
Matt Jaunich, City Administrator Cash Available $440,733
Andy Reid, Finance Director Loans Receivable $282,871
Capital Assets 201 329
I. Call to Order Total Assets $1,072,426
Meeting was called to order at 11:32 AM. M"IF,Loan Fund
Cash Available $13,710
II. Review Agenda MOXY Loan Receivable $4,768
Ill. Review Minutes Enterprise Center Fund
Cash Available $25,250
a. February 27th Finance Team meeting SH RKO°TIF District(T,IF 4-5)
M/S/P: May, Czmowski to accept the minutes as Cash Available $19,738
written. Passed unanimously. Interfund Loans Receivable $434,772
b. February 28th EDA Board Meeting
M/S/P: Czmowski, Stearns to accept the minutes as written. Passed unanimously
IV. Review of EDA Financial Statements(Please refer to table)
M/S/P: May, Stearns to accept financial report as presented. Passed unanimously.
V. Director's Report
A. Marketing Plan—888 likes' on FB; 3 website updates, 12 FB postings
B. Business recruitment/expansions-Staff provided an update on recent prospects and ongoing
Conversations.
C. Jorgensen Hotel-$150K Redevelopment grant obtained from DEED
D. Enterprise Center painting—very near to completion
E. Enterprise Center card reader replacement—completed at a cost of$6,018; will be paid by MIF loan fund
dollars as an improvement to the incubator.
F. EDA Annual Report—about 90%complete, should come out next week
G. Grand Rapids visit May 1st—group is visiting Hutchinson to learn how we've been so successful with our
downtown.
H. RD Machine ribbon cutting—8:30 AM, Thursday, April 1 1th
I. AURI meeting—Agricultural Research Utilization Institute(AURI) is studying the feasibility of establishing
a mid-size contract manufacturing operation for food & beverage manufacturers at the Enterprise Center
J. Annual employment census—18 responses thus far/9 companies surveyed are hiring with about 33 open
positions between then/3M employment is down significantly but they plan to begin hiring in late summer
K. Downtown plan update—steering committee meeting held, project is progressing
L. Congressmember Michelle Fischbach visit—this afternoon in City Council chambers
M. Intern—Miles'wants one.
VI. Childcare Business Grant Program
Discussion on establishing a Childcare Business Grant program to incentivize and assist with the start-up of new
childcare businesses and/or expansion of existing ones, with the goal of making more childcare available in the
community.
Grants would range from $1,000 up to $2,000 on a sliding scale, based on how many new childcare slots are made
available.
This will be a one-year pilot program.
M/S/P: Czmowski, May to approve the creation of the grant program as proposed. Passed unanimously.
VII. Women to Workforce Intern
Discussion of recruiting a female high school student to be the EDA's Women to Workforce' Intern. The goal is to help
breakdown stereotypes and increase female participation in CTE classes at Hutchinson High School. Our long-range
goal is to increase female participation in manufacturing, the trades and in leadership.
The Intern will earn$20/hour up to$2,500 for the 40-week internship.
This would be a one-year pilot program to test the concept.
M/S/P: May, Stearns to authorize hiring of a Women to Workforce Intern. Passed unanimously.
VIII. Enterprise Center Annual Budget
Staff put together a proposed 2024 budget for the Hutchinson Enterprise Center. The budget assumes lower rental
revenue and higher utility costs due to existing vacancies in the building. Property taxes were very similar to last year's
amount, but will be significantly lower next year. The County looks at the building each January to determine what
percentage is filled with for profit' businesses. With the January 2024 occupancy being only 40%the property taxes for
next year will be reduced.
M/S/P: Czmowski, May to adopt the Enterprise Center 2024 budget as proposed. Passed unanimously.
IX. EDA Results/Goals for 2024
Staff reviewed 2023 accomplishments. Proposed 2024 work plan and goals were discussed. No formal action, but the
EDA Board indicated consensus. The 2024 workplan &goals are appended to these minutes.
X. Grant& Loan Program Applications—NONE
XI. Other Business
M/S/P: May, Stearns to reappoint Dan Mahon to the EDA Finance Team, subject to his willingness to serve. Passed
unanimously.
XII. Set Next Meeting— 11:30 AM Wednesday April 24th, 2024.
XIII. Adjourn—With no further business to attend to the meeting was adjourned at 12:35 PM.
Respectfully Submitted,
Miles R. Seppelt
Economic Development Director