Loading...
06-27-2003 EDAMHutchinson HCDC — An EDA Board of Directors Minutes of Meeting Friday, June 27, 2003 Members present in bold print: Members: Tim Ulrich Bob Windel Jim Haugen Jeff Haag Duane Hoversten Keith Fischer Guests: Matt McMillan Vi Mayer Cary Linder Marc Sebora Julie Wischnack Staff: Miles Seppelt, EDA Director Lisa McClure, Interim EDA Director Jake Wegner, EDA Intern 1. Tim Ulrich called the meeting to order at 7:45 AM 2. Approve Agenda 3. Review minutes of EDA Board meetings. Don Walser John Rodeberg M/S/P: Walser, Haag to approve the EDA Board minutes of May 30, 2003, with the following corrections: "Vi Meyer" to "Vi Mayer "; "attourney" to "attorney "; "adissable" to "admissible ". 4. Review minutes of Industrial Park Team meetings. M/S/P: Windel, Fischer to approve the Industrial Park Team Meeting minutes of May 28, 2003. 5. Review minutes of Finance Team meetings. M/S/P: Hoversten, Haugen to approve the Finance Team meeting minutes from June 18, 2003. 6. Industrial park Update Mark Sebora gave the Industrial Park update, and options were discussed. M/S/P: Walser, Haugen to delay any actions regarding the Hackbarth property and to examine other alternatives for industrial park land. 1 7. Review the Financial Statements Ken Merrill was unable to attend the meeting. Miles Seppelt summarized the included statements. As of May 31, 2003 the operations budget on page one listed $125,858 in cash. On page two, income is listed as $128,000. Professional Services is listed at $450. Cash available on page four is listed as $168,519. Page five shows cash at $554,906. M/S /P: Haag, Hoversten to approve the May 31, 2003 financial statements. 8. Directors Report Miles Seppelt gave his report: A. Business Retention & Expansion Visits Miles stated that the EDA has been making many site visits lately, most recently to: Stearnswood, American Energy Systems, Applied Kinetics, and Provesta. B. State Theater Miles noted that the SBA approval is the only remaining step that needs to be accomplished for the financing package for the theater. The SBA is awaiting an appraisal before they can approval their end of the deal. Miles stated that the appraisal and forthcoming approval should be completed within two weeks. A public hearing will take place on July 8`h, and all final approval will be made. C. Liquor Store The city has hired an expert relocator to acquire the four properties we need before any construction can begin on the new liquor store. Miles stated that the estimate for the four properties is $200,000; the land will cover about 16,000 sq. ft. D. Loan Project Update Lisa stated that the loan project is coming along well and is still in- progress. E. EDAM Membership Miles stated that since Lisa is taking his position while he is deployed in Bosnia, it would be advisable that she be enrolled as a member in EDAM. The cost is $195.00. It was stated by the board that Miles can sign her up without board approval. 9. Grant & Loan Applications A. Grants — Sign & Awning None B. Grants — Storefront Matching Keith Kamrath has requested $3,752.50 in storefront matching funds. His total for the project is $7,505.00. Keith would like to have some stuccoing and window work done on his building at 125 Main St. S. M/S /P: Haugen, Fischer to approve the requested amount of $3,752.50 for the rehabilitation work on Keith Kamrath's 125 Main St. building. C. Loans None 10. Special Services District Update Miles went through the current list of Main Street properties that have signed on for the SSD. It was noted that the HDA has met and exceeded both requirements for the district to come into being. The HDA needed a minimum of 25% of both the downtown land area as well as the market value. Current figures show that 34.79% of the land value, and 44.23 % of the market value has been captured at this point in time. It has been noted that Shopko and Econo Foods will not sign the petition, but will not oppose it either. The SSD petition list will be brought forth to the July and August city council meetings, where the ordinances will then be adopted. From that point on, a 45- day window opens for opposing parties to gather 35% of either the land area, or the market value. Assuming that the SSD does get passed, funds would be available beginning on June 1, 2004. 11. Adjustment of Downtown Commercial Rehabilitation Loan Program Rule Miles spoke about an issue that he had come across regarding the Downtown Loan Program. The issue lies with the verbiage used in the loan program guidelines. Currently, the rules state that "The applicant can use no more than $20, 000 of the loan for interior improvements. " This rule was originally set forth to ensure that most of the funds lent out would be used on exterior improvements, to improve the "curb appeal" of the building. However, a person receiving a $19,999 loan, or any amount less than that could spend the entire amount on interior improvements. No exterior improvement need be made at all. Discussion took place, and it was agreed that a change should be made in the Loan Program's Guidelines under the "Conditions" section that should read, "The applicant can use no more than 30% of the loan for interior improvements with the following exceptions: heating, electrical, plumbing, insulation, handicap accessibility, and asbestos abatement. M/S /P: Walser, Haag to amend the loan program guidelines as suggested according to the new wording. 12. American Energy Systems lot adjustment request American Energy Systems has requested that the EDA approve the sale of a strip of land approximately 20 feet wide and a strip 100 feet long to a neighbor and NOT have it affect his 2/3 land write -down. Tabled until more details about the request can be reviewed. 13. Southwest Minnesota Foundation Support For the year 2003, the Board will donate $4,000 to the Southwest Minnesota Foundation, and be reimbursed by the city. *M/S /P /: Windel, Haugen to approve the $4,000 donation. *Jeff Haag abstained 14. Other Business • Chamber Report - -- Escapees RV: June 291h — July 3rd - - -Arts & Crafts: September 15. Set next meeting The next board meeting is scheduled for July 25, 2003 at 7:00 a.m. 16. Adjourn The meeting adjourned at 9:OOAM. Respectfully submitted, Jake Wegner EDA Intern C!