02-27-2013 EDAMEDA Board Meeting
Main Conference Room — City Center
11:30 AM Wednesday, February 27, 2013
Members present in bold.
MEETING MINUTES
Members
Tim Ulrich Steve Jansick
Mary Christensen Mike McGraw
Staff
Miles Seppelt, EDA Director
Sanskriti Thapa, EDA Assistant
Andy Reid, City Controller
Daron Vanderheiden
Jonny Block
Liaison
Mary Hodson, Chamber President
I. Call to order
EDA President Tim Ulrich called the meeting to order at 11:32 AM
II. Introduction
Jonny Block, the new EDA Board member was introduced.
III. Approve Agenda — No Action
Chad Czmowski
IV. Review Meeting Minutes
A. January 23rd Board of Directors
M/S/P: Czmowski, Vanderheiden to approve the minutes as written: passed
unanimously.
B. December 19th Finance Team
M/S/P: Ulrich, Czmowski to approve the minutes as written: passed unanimously.
C. January 16th Finance Team
M/S/P: Jansick, Ulrich to approve the minutes as written: passed unanimously.
V. Review of January financial statements — Andy Reid
• Cash available in operations is $141,943.
• $56,736 is reserved (proceeds from Warrior land sale) and $81,062 is unreserved.
• The Economic Development Loan fund has $626,018 in cash available.
• $100,000 is reserved (Luce Line Trail contribution) and $526,018 is unreserved.
• Loan payments for the month were $9,759.
• Downtown revolving loan fund has $172,291 in cash available, loans totaling $798,560 and
$201,329 in capital assets (Cenex & Wright property).
• Loan repayments totaled $6,469 for the month.
• MIF Loan fund has $181,221 in cash available and loans receivable of $347,194 (NuCrane).
• Loan payments for the month were $5,640.
M/S/P: Block, Jansick to approve the financials as presented: passed unanimously.
VI. Director's Report
A. Depot Marketplace Redevelopment — Project moving forward. EDA staff is working to
get the building movers scheduled as soon as possible. Engineers are in the process of
designing the project — it will have to be separate from the Jefferson Street project due
to the fact that Jefferson Street is a state aid route.
B. NuCrane MIF Grant De -federalization- The application is being processed and DEED
getting closer to the finish line. Staff will be in contact with the personnel from the state
for an update.
C. Incubator Project Update: Awaiting final signed grant agreement from the State. The
contract for the architects is being reviewed by the City Attorney.
D. JUMPSTART DOWNTOWN Update: Several press releases have been made. The word
is out there and people have been inquiring. Website updated and a story in the Leader.
A recent article in the Crow River Business magazine. The entries are due by the end of
March.
E. EDA Director Search Update: 9 applications received so far. Profile distributed through
various media. Brenda Ewing and Jeremy Carter possibly to do the first screening of the
applicants in early March.
F. Marketing Plan Update: 250-300 postcards left which will be out soon. 1,101 brochures
have been distributed. Vivid Image will take care of the EDA facebook page & Twitter
account until a new EDA Director is named.
VII. Chamber Leadership Project: Staff provided the overview of the program. The proposal of
the program is to put in a fishing pier with an approximate cost of $16,849.05 dollars.
Proposal to put a fishing pier along the Crow River at Cedar Park. Finance Team suggested
a grant of $3,000. Discussion followed.
M/S/P: Jansick, Vanderheiden to approve a grant of $3,000 from the Downtown Revolving
Loan Fund. Passed unanimously.
VIII. Consideration of Downtown Boundaries: It was suggested that the official boundaries of
downtown should be reviewed in light of the Depot Project and the creation of the new
Downtown Action plan. Discussion followed. Consensus was to hold off on any boundary
adjustments for the time being.
IX. Consideration of Appointments to Finance Team:
A. Corey Stearns: The staff went through the process with him. Discussion followed. No
commitment made yet. The staff to contact him again.
B. Shad Ketcher: the staff has not been in contact with him as of yet. The Chamber to
contact him and check his interest to be in the team.
X. Grant and Loan Applications — NONE
XI. Chamber Update — Chamber leadership group projects were summarized.
XII. Other Business- NONE
XIII. Set Next meeting — March 27th, 2013
XIV. Adjourn- 12:30 PM
Respectfully Submitted,
Sanskriti Thapa
EDA Intern