09-24-2025 EDAM EDA Board Meeting
Hutchinson Enterprise Center
11 :30 AM Wednesday, September 24th, 2025
Members present are in bold.
Economic Development Authored
Financial Summary through August 2025
MEETING MINUTES operations
Cash Available $223,990
Reserved $56,736
Members (bold = present) Unreserved $161,551
Mike McGraw Economic Development Loan Fund ,
Jonny Block Cash Available $162,484
Anthony Hanson CURRENT LOANS
Corey Stearns Smokey Dukes $100,000
Chad Czmowski Zephyr Wind Services $22,554
Pat May FireLake Mfg. $20,669
Jack Daggett Innovative Foam Balance (12/1/2025) $8,355
Jeremy Carter—ex officio Downtown Revolving Loan Fund
Staff Cash Available $382,369
Loans Receivable $380,662
Miles Seppelt, EDA Director Total Assets $920,343
Matt Jaunich, City Administrator
Andy Reid, Finance Director MIF Loan Fund
Cash Available $10,129
Guests MOXY Loan Receivable $484
Valerie Mackenthune, Chamber President Enterprise Center Fund
Liz Danielson, McLeod County Cash Available $32,757
SHOPKO TIF District(TIF 4-5)
I. Call to Order— 11:30 AM Cash Available $6,623
Interfund Loans Receivable $112,256
II. Approve Agenda
No action.
III. Review previous meeting minutes
A. July 16th Finance Team [no August FT meeting]
M/S/P: Hanson, Stearns to accept minutes as written. Passed unanimously
B. August 27th EDA Board
M/S/P: Block, Czmowski to accept minutes as written. Passed unanimously
IV. Review EDA Financial Statements—Andy Reid
M/S/P: Stearns, Hanson to accept the financial report as presented. Passed unanimously.
V. Director's Report
A. Marketing Plan: 0 website updates/4 FB entries
B. Business recruitment/expansions—update on current prospects and ongoing conversations
C. Riverhouse—staff provided an update on the city's efforts to bring Riverhouse into zoning
compliance
D. Guiding Light ELC—Executive Director hired, State Licensor assigned, November 3rd opening
E. Downtown Projects
■ Downtown Association—working to finalize by-laws
■ Downtown Smartphone App—MutchinHutch now available it the App store
■ Festival Street/Parking Lot Signage—Hoisington working to finalize report
■ Jorgensen Hotel Redevelopment—finalizing legal documents/December demolition
■ The Landing—Everything done/work to begin around October 1st/15-month construction
VI. Request for State Theatre Loan Subordination —Citizen's Bank
Citizen's Bank is providing additional financing to the State Theatre for a new projector and
miscellaneous building improvements. They are requesting that the EDA subordinate its loan to
the new bank loan.
M/S/P: Block, Czmowski to authorize the loan subordination. Hanson abstained. Passed
unanimously.
VII. Downtown Loan for Riverhouse?
The possibility of a downtown loan to assist Riverhouse improve the look of their building was
discussed.
Staff will reach out to Riverhouse ownership to discuss the idea.
VIII. Update on Hutchinson Housing Projects
Staff provided a brief overview of the seven housing projects (four apartments, three housing
subdivisions) either underway or on the drawing board in Hutchinson.
IX. Grant& Loan Program Applications
Commercial Rehabilitation Loan (brickwork on north side of building)
8 Main Street North - Kathy Prellwitz
M/S/P: Hanson, Block to authorize a loan of up to $37,000 with annual payments. Passed
unanimously.
X. Other Business— None.
XI. Set Next Meeting— 11:30 AM Wednesday, October 22nd 2025
XII. Adjourn
With no further business to attend to, the meeting was adjourned at 12:47 PM.
Respectfully Submitted,
Miles R. Seppelt
Economic Development Director