05-23-2012 EDAMEDA Board Meeting
Main Conference Room — City Center
11:30 AM Wednesday, May 23rd, 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
Aaron Othoudt, 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 11:34 AM
II. Approve Agenda — No Action
III. Review meeting minutes:
April 25th, 2012 Board of Directors
M /S /P: Czmowski, Retterath to approve the Board minutes as written; passed unanimously
April 18th, 2012 Finance Team
M /S /P: Ulrich, Czmowski to approve the Finance Team minutes as written; passed
unanimously.
IV. Review March EDA Financial Statements — Andy Reid
• Cash available in operations is $110,770
• $56,736 is reserved (proceeds from Warrior land sale) and $51,416 is unreserved.
• The Economic Development Loan fund has $547,726 in cash available.
• Loan payments for the month were $9,759
• Total assets in the Economic Development Loan fund are $924,041
• Downtown revolving loan fund has $527,089 in cash available, loans totaling
$756,962 and $201,329 in capital assets (Cenex & Wright property).
• Loan repayments totaled $6,219 for the month.
• MIF Loan fund has $124,134 in cash available and loans receivable of $397,350
(NuCrane).
• A total of $0 in MIF loan repayments came in during the month. (they prepaid)
M /S /P: Christenson, Jansick to approve the March financials as presented; passed
unanimously.
Group would like to receive the EDA Financial Statements ahead of time via e-mail.
V. Director's Report
Federal Grant Status (Industrial Park): $238,995 Remaining — Staff informed the EDA
Board that Mohammed Saeed, our EDA project manager, is coming to inspect the Industrial
Park. Hopefully that will facilitate receiving our final payment.
Marketing Plan Update — Staff updated the Finance Team on the progress of the marketing
plan and showed the team the new EDA website. Staff will keep the Facebook & Twitter
accounts updated to build it up for stronger search results on the internet. Staff also
mentioned in the future adding a link to YouTube on the website for interview videos.
VI. Depot Marketplace Project Update /Discussion — Staff informed the EDA Board that the
Quonset will be removed in the next 2 -3 weeks, the environmental final report should be
completed end of this week, and the bids have come in for various aspects of the project.
Site Clean up
Hjerpe Contracting
$7,900
Foundation
Signature Masonry
$17,500
Building Move
Marcus Building Movers
$12,500
Total
$37,900
Discussion followed. Staff was asked to check prices between a 144' pavilion and a 164'
pavilion. Staff also noted that once the pavilion is ordered it will take 6 -8 weeks for delivery.
The EDA Board would like staff to e-mail them as soon as the environmental report comes in
to set up a quick lunch meeting that would also include the EDA Finance Team.
VII. Proposal for "Virtual" Spec Building — Staff reviewed information for the Finance Team
and discussed how putting a "virtual" spec building will shave about 3 months off the building
process for companies wanting to locate in Hutchinson The "virtual" spec building will be
brought through the planning process with an architect designed building and site design
work done. Next step would be for staff to research costs involved with completing the
building design and site plan process.
No Motion. The EDA Board expressed agreement with the EDA Finance Team on getting
costs for architectural & engineering work for the proposed virtual spec building.
VIII. Minnesota Angel Network — Staff inquired if the EDA Board would like to have Todd
Leonard & Dave Wagy of the Minnesota Angel Network do an orientation meeting here in
Hutchinson with the Finance Team, EDA Board and other interested parties. The EDA Board
indicated it would like to have this orientation to get more information but not to invite
potential investors at this time. The possibility of reviewing 1 -2 companies locally each month
was also discussed. Consensus was to set up an orientation meeting in late August /
September. EDA Board would like staff to foreword the Minnesota Angel Network newsletter
to them.
IX. Grant & Loan Applications
Commercial Rehabilitation Loan Program
101 Main Street — Joseph Ludwig (10 year @ 1.25 %) $25,000
M /S /P: Christensen, Czmowski to recommend approval of the loan as presented, contingent
upon all program criteria being met. Staff should also insure the applicant understands that
the loan is called when the building is sold. Passed unanimously.
X. Other Business —
Informal discussion took place about the steering committee meeting for the Downtown Revitalization
Master Plan Phase II that took place this morning at Zellas. Staff informed the EDA Board that the
steering committee may request EDA financial support for the plan in the near future.
There was an informal discussion about the DNB's setback requirements from water ways.
XI. Chamber/ CVB Update— Bill Corby updated the board on upcoming chamber events.
Business After Hours — Wednesday, June 13th, 4:00 — 6:00 pm, B & B Sports.
5th Annual Hometown Golf Challenge - Monday, July 30, CRGC, player registration is now open.
Contact our office or check our web page at www.explorehutchinson.com. Theme this year is Playin in
Plaid.
Music In The Park — Starting June 11 th with Flag Day and Water Carnival Kickoff. Posters are being
distributed.
Name Change — Our name change is official and registered with the State. It is now the Hutchinson
Area Chamber of Commerce and Tourism. All logos, literature, signage will be updated by year's
end.
XII. Set Next Meeting — June 27th
XIII. Adjourn — With no further business to attend to, the meeting was adjourned at 12:56 pm.
Respectfully Submitted,
Aaron Othoudt
EDA Assistant