01-28-2005 EDAMHutchinson EDA
Board of Directors
Minutes of Meeting
Friday, January 28, 2005 at 7:00 a.m.
Members present in bold print:
Members:
Tim Ulrich Steve Jansick Jim Haugen
Duane Hoversten Casey Stotts Mike McGraw
Staff:
Miles Seppelt, EDA Executive Director
Crystal Foust, EDA Intern
L Tim Ulrich called the meeting to order at 7:00 a.m.
II. Approve Agenda
Agenda not revised. No action taken.
III. Review and Approve Meeting Minutes
a. Review minutes of December 23rd, EDA Board meeting.
Don Walser
M/S /P: Walser, McGraw to approve the minutes from the December 23rd, 2004 EDA Board
meeting as written.
b. Review minutes of December 15th, EDA Finance Team meeting.
M/S /P: Hoversten, Jansick to approve the minutes from the December 15th, 2004 EDA
Finance Team meeting as written.
c. Review minutes of December 281h, 2004 Industrial Park Team meeting.
January Industrial Park Team meeting postponed until February 1St. The EDA Board will
approve December 28th minutes in the February meeting.
IV. Review December Final Financial Statements — Miles Seppelt gave the following report:
• Pg. 1 is the balance sheet for EDA Operations listing the cash available as $127,719.
It was noted that the EDA had received a transfer from the city's general fund last
month for 2005.
• Pg. 2 is the statement of revenues and expenditures. Every line item is within the
budget. However, the EDA is over budget in the professional services category due
to appraisals, site plans, etc. for various projects.
• Pg. 4 EDA currently has a balance of $137,943 for cash available. $7500 can be
added to the balance that was received from Allied Mechanicals recently.
• Pg. 5 Currently for the Downtown Loan Fund, the cash available is $637,239. This
balance does not reflect recently approved funds for multiple loans totally $147,154.
The actual unencumbered balance is $490,084.
M /S /P: Haugen/ Hoversten to approve the December Financial Statements as presented.
V. Directors Report
Miles Seppelt gave the following updates:
1. BR &E Visits: Miles visited with TC Tool. They currently lease from Goebels,
but are interested in purchasing. TC Tool is beginning to work on a business
plan. Goebels have a potential buyer for the 10 acres they have also.
2. Liquor Hutch: The project was approved by the city Council on January l Ph
The city is in the process of organizing soil borings and a survey done on the site.
Tushie Montgomery Architects is working on their information as well.
3. Rix Corner Redevelopment: The deadline for the project business plan is
March 1St
4. State Theater: The finishing work is being done at the theater. The details are
coming together and it is about 1 month from being finished.
5. Hutchinson Hotel: The inside of the hotel is cleaned out and the appropriate
walls are knocked out. The Chamber of Commerce, a chiropractic facility, and
another rental area are scheduled to move in the building.
6. Downtown Streetscape Project: Miles is in the process of visiting downtown
property owners. He is conducting a survey to get feedback about the proposed
project. The information will be presented to the City Council on February 8t'
along with a public hearing.
7. Spec Building Project: The business plan is written. The project team met 3 or
4 times. There is a plan to bring the project through the various boards in
February for approval.
8. Cenex consolidation project: The Cenex Project Team has met. The
discussion is moving forward. Research is currently being done to find out
more details about the specifics of the project.
9. New Business Recruitment: Indradyn as a potential business in Hutchinson was
looked at. The decision at this time is to not go ahead with that business.
Discussion took place about the business future of Hutchinson. In a couple of
years it should be very exciting.
10. Annual Report: The report is not done yet. It will be done and up for
discussion next month.
VI. Grant and Loan Applications
Storefront Revitalization Matching Grant
Cheryl Labat (adjustment to cover final bill)
$102.50
M/S /P: Walser, Jansick to approve the adjustment to the amount of storefront
revitalization matching grant.
VIL Streetscape Assistance Grant (proposal)
The program is designed to help those small businesses that would have financial hardship due to
streetscape assessments. The people qualified for the program would be owner occupied
businesses that had a lot 29 feet or less. The Hutchinson Downtown Association would fund the
program. $1,000 would be allotted each year and divided among the applicants each year.
Discussion took place out the proposal. No action was required.
VIII. Renewal of Property Leases
A. Wetherell Lease ($500 /month)
• The Wetherell lease expires in May 2005. The Wetherell's are interested in
renting the south side of the property.
M/S /P: Hoversten/ McGraw to approve the renewal of the Wetherell lease at
$500 /month.
B. Stritesky Property Lease
• Currently, 76 acres of the Stritesky property is being leased. The lease expires in
April 2005. Discussion took place about the renewal of the lease and insurance
policies.
M/S /P: Jansick/ Haugen to approve to enter another year lease for the Stritesky property at
$100 /acre.
IX. Chamber Update
• The 57th annual meeting took place on January 27th. Jim Fahey was the guest
speaker. A number of awards were given out. There was a good turnout with
200+ people in attendance. The sesquicentennial committee had a display at the
Event Center as well. Mark Vaillancourt is the new president of the Chamber.
X. Other Business
• A PowerPoint presentation of the Spec Building Project will be presented next
month.
XI. Next meeting February 28th, 2005, 7 am.
XII. Adjourn
The meeting adjourned at 8:01 am.
Respectfully submitted,
Crystal Foust
EDA Intern