01-25-2012 EDAMEDA Board Meeting
Main Conference Room — City Center
11:30 AM Wednesday, January 25, 2012
Members present in bold.
MEETING MINUTES
Members
Tim Ulrich Steve Jansick Mike Retterath Daron Vanderheiden
Chad Czmowski Mary Christensen Mike McGraw
Staff
Miles Seppelt, EDA Director
Joe Lang, EDA Assistant
Andy Reid, City Controller
Liaison
Bill Corby, Chamber President
I. Call to order
EDA President Tim Ulrich called the meeting to order at 11:32 AM
II. Approve Agenda — No Action
III. Election of 2012 EDA Officers
A.
President
Tim Ulrich
B.
Vice - president
Mike McGraw
C.
Secretary
EDA Intern
D.
Treasurer
Steve Jansick
E.
Assistant Treasurer
Jeremy Carter
M /S /P: Vanderheiden, Czmowski to approve the slate of 2012 EDA officers; passed
unanimously.
IV. Review meeting minutes:
A. December 28th, 2011 Board of Directors
M /S /P: Jansick, Christensen to approve the minutes as written; passed unanimously.
B. December 21St, 2011 Finance Team
M /S /P: Ulrich, Vanderheiden to approve the Finance Team minutes as written; passed
unanimously.
V. Review November EDA Financial Statements — Andy Reid
■ Cash available in operations is $152,917
■ $56,736 is reserved (proceeds from Warrior land sale) and $92,505 is
unreserved.
■ The Economic Development Loan fund has $505,736 in cash available.
• Loan payments for the month were $9,759
• Total assets in the Economic Development Loan fund are $918,016.
• Downtown revolving loan fund has $525,678 in cash available, loans totaling
$522,745 and $201,329 in capital assets (Cenex & Wright property).
• Loan repayments totaled $51,974 for the month (Mark Schierman loan paid off)
• MIF Loan fund has $106,669 in cash available and loans receivable of $412,235
(NuCrane).
• A total of $5,640 in MIF loan repayments came in during the month.
M /S /P: Jansick, Retterath to approve the financial report as presented; passed
unanimously.
VI. Director's Report
A. Federal Grant Status (Industrial Park): $238,995 Remaining — Staff made contact with
Federal EDA staff, still waiting for a final payment on the grant, hopefully it will be
forthcoming shortly and the end is in sight.
B. Marketing Plan Update — (reviewed below: see item IX)
C. Business Retention & Expansion Program — Staff visited Goebel Fixture Company.
They are doing well and are bringing some previously outsourced word in- house.
D. Depot / Farmer's Market Update — Staff informed the Board of the site plan approval
and the next step, which is to re -plat the property. Environmental work is underway.
Overall, the project appears to be on schedule. . Discussion followed.
VII. Business Recruitment Update
A. Company "X" — Miles informed the Board that the co- founder of the company visited
with the finance team about his interest in Hutchinson and what he can offer as well.
Discussion followed
B. Company "Y" — Staff presented information regarding the company. A subcommittee
has been established to meet with company representatives and they will meet 1/26.
C. Company "Z" — Staff handed out info and detailed current needs of the company
(workforce), which is from western Minnesota and needs to expand in a new labor shed
in order to keep growing. Discussion followed.
VIII. Minnesota Angel Network Update — Staff provided an update on the MNAN process, and
gave the Board an agenda from a MNAN advisory session. Discussion followed.
IX. Strategic Planning 2012
A. Review of S/W /O/T — Staff reviewed results of the strategic planning S/W /O/T analysis.
Discussion followed. Suggestions were made to market the strengths from the analysis.
B. Logo /Brand — Staff offered a visual of the new EDA logo & brand and the thinking
behind it. Positive feedback was received.
C. Proposed EDA Mission Statement — A few potential mission statements were handed
out and reviewed. Discussion followed and a few adjustments were made. A finalized
mission statement was developed:
"The mission of the Hutchinson Economic Development Authority is to create
jobs, and promote business development & redevelopment."
M /S /P: Christensen, Vanderheiden to adopt the proposed EDA mission statement,
passed unanimously.
D. Proposed EDA Goals — A list of goals were handed out and reviewed by the Board,
followed by a specific goal of initiating a spec building project. Discussion followed and a
more detailed proposal for the EDA spec building project will be presented next meeting
for consideration.
X. Grant & Loan Applications
A. Storefront Revitalization Matching Grant
Hantge Brothers, LLC $862.50
246 Main Street
M /S /P: Czmowski, Jansick to approve the grant request; passed unanimously.
B. Sign & Awning Grant Program (adjustment)
Mark Dawson — The Hairy Edge originally $1,350
6 Main Street North
(Grant approved in October. Mr. Dawson is requesting a grant adjustment of $165.49 for
additional project related charges from the contractor)
M /S /P: Czmowski, Retterath to approve the grant adjustment; passed unanimously.
XI. Other Business — None
XII. Chamber / CVB Update — Tim Ulrich updated the board on upcoming chamber events:
A. 64th Annual Banquet — Friday, January 27, 5:30 -10:00 pm, Hutchinson Event Center, Tickets are
$30.
B. Business After Hours: - Thursday, February 9, 4:00 -6:00 pm, the Lamplighter.
C. Leadership Institute: EDA staff is working with a group on an economic development project.
XIII. Set Next Meeting — February 22nd
XIV. Adjourn
With no further business to attend to, the meeting was adjourned at 12:55 pm.
Respectfully Submitted,
Joe Lang
EDA Assistant