05-22-2024 EDAM EDA Board Meeting
Hutchinson Enterprise Center
11 :30 AM Wednesday, May 22nd, 2024
MEETING MINUTES
Members present in bold.
EDA Board Members
Operations,
Mike McGraw Cash Available $153,254
Jonny Block Reserved $56,736
Mike Cannon Unreserved $113,049
Corey Stearns Economic Development Loan Fund
Chad Czmowski Cash Available $228,424
Pat May
Jack Daggett Zephyr Wind Services $42,648
Jeremy Carter FireLake Mfg. $26,980
Laser Dynamics Balance (partially forgiven) $0
Staff Innovative Foam Balance (12/1/2025) $8,355
Miles Seppelt, EDA Director Downtown Revolving Loan'Fund
Matt Jaunich, City Administrator Cash Available $433,832
Andy Reid, Finance Director Loans Receivable $277,397
I. Call to Order Capital Assets 201 329
Meeting was called to order at 11:34 AM. Total Assets $1,070,051
MIP Loan Fund
II. Review Agenda Cash Available $5,839
MOXY Loan Receivable $4,292
Ill. Review Minutes Enterprise Center Fund
Cash Available $17,391
a. April 17th Finance Team meeting
M/S/P: May, Daggett to accept the minutes as HRKO°TIF Clistrict(TIP 4-5)
written. Passed unanimously. Cash Available $9,437
Interfund Loans Receivable $434,772
b. April 24th EDA Board Meeting
M/S/P: Czmowski, Stearns to accept the minutes as written. Passed unanimously
IV. Review of EDA Financial Statements—Andy Reid (Please refer to table)
M/S/P: May, Stearns to accept financial report as presented. Passed unanimously.
V. Director's Report
A. Marketing Plan —898 `likes' on FB; 4 website updates, 9 FB postings
B. Business recruitment/expansions - Staff provided an update on recent prospects and ongoing
conversations
C. Jorgensen Hotel Project—developer talking with neighbor about property purchase, making
progress
D. Civil Air Patrol project— no bonding bill, so probably on hold for the time being
E. Enterprise Center painting — DONE
F. Minnesota Cup Connection —emailed & called, but no response
G. Childcare Business EXPLORE workshop—Cancelled, working directly with one individual
H. First Children's Finance Childcare Grant—closed out,working on refund of unused grant dollars
I. Economic Development Marketing &Attraction Class—on-line course completed by staff
J. Hutchinson Station newspaper—will be renting offices from George Quast
K. EDA website rebuild —aiming for completion within 30 days
VI. Hay Land Rental
■ Three bids received for$105, $100 and $90.58/acre
■ High bid was submitted by Cullin Lickfelt
■ This is for a 3-year agriculture license
VII. Review Proposal for Clinic Site Redevelopment
■ Titanium Partners submitted the only proposal
■ Other developers were interested but dropped out
■ Titanium proposal is for a housing CO-OP, in which people would buy their units and pay an
association fee to cover things like snow removal, grounds maintenance, etc.
■ Proposal submitted was incomplete due to their architect having a hard drive crash
■ Staff will work with the developer to get a complete proposal and bring it back to the EDA
Board next month for consideration
VIII. Grant& Loan Program Applications
Facade Improvement Matching Grant
140 Main Street North — Kirk Quade $4,080.25
M/S/P: Daggett, Stearns to approve the grant. Passed unanimously.
IX. Other Business— NONE
X. Set Next Meeting— 11:30 AM Wednesday, June 26th, 2024.
XI. Adjourn
With no further business to attend to, the meeting was adjourned at 12:12 PM.
Respectfully Submitted,
Miles R. Seppelt,
Economic Development Director