07-24-2013 EDAMEDA Board Meeting
Members present in bold.
Main Conference Room — City Center
11:30 AM Friday, July 24th, 2013
MEETING MINUTES
Members
Tim Ulrich Steve Jansick
Mary Christensen Mike McGraw
Staff
Lee Miller, EDA Director
Nate Keller, EDA Assistant
Andy Reid, City Controller
Daron Vanderheiden
Jonny Block
Liaison
Mary Hodson, Chamber President
Call to order- The meeting was called to order at 11:33 AM.
Approve Agenda — No Action
III. Review Meeting Minutes
A. June 28th Board of Directors
Chad Czmowski
M/S/P: Block, McGraw to approve the minutes as written; passed unanimously.
B. June 19th Finance Team
M/S/P: McGraw, Hodson to approve the minutes as written; passed unanimously.
IV. Review June EDA Financial Statements — Andy Reid
A. Cash available in operations is $183,629.
B. $56,736 is reserved (proceeds from Warrior land sale) and $121,586 is unreserved.
C. The Economic Development Loan fund has $1,196,172 in cash available.
D. $100,000 is reserved (Luce Line Trail contribution) and $125,000 for Depot/ farmers
market costs. $971,172 is unreserved.
E. Loan payments for the month were $10,285
F. Downtown revolving loan fund has $208,140 in cash available; $165,202 is unreserved,
loans totaling $754,187 and $201,329 in capital assets (Cenex & Wright property).
G. Loan repayments totaled $8,912 for the month.
H. MIF Loan fund has $210,001 in cash available and loans receivable of $326,896
(NuCrane).
I. Loan payments for the month were $5,640.
M/S/P: Jansick, Vanderheiden to approve the financials as presented; passed unanimously.
V. Director's Report
A. JUMPSTART DOWNTOWN — $10,000 check was disbursed for 1St place winner. Second
place winner will receive a check for Sign and Awning Grant which will be disbursed later
this week.
B. Depot Marketplace Redevelopment: First layer of blacktop will be laid on July 25th.
Sidewalk construction is expected to start week of July 28th. Final bathroom design for
the Depot was approved.
C. Luce Line Trail Resolution: Request came in from McLeod County asking for a
Resolution of Support.
M/S/P: McGraw, Block to approve request for Resolution upon correction of typo; passed
unanimously.
D. Program guideline review: Staff went over proposed changes and suggestions for all of
the EDA's programs. Board recommended the proposed changes to be reviewed by the
Finance Team.
VI. Grant and Loan Applications
Sign & Awning Grant Program
Cindy Gregorius
4 North Main St.
$862
M/S/P: Vanderheiden, Jansick to approve grant request; passed unanimously.
Amy Albrecht
2 North Main St.
$862
M/S/P: Christianson, Czmowski to approve grant request; passed unanimously.
Gislason & Hunter
16 Washington Ave W
$1,510.39
M/S/P: Czmowski, McGraw to deny request due to request not fitting guidelines and criteria;
passed unanimously.
Commercial Rehabilitation Loan Program $19,500
Katherine & Anthony Prellwitz
8 Main St. N
M/S/P: Vanderheiden, Block to approve loan request; passed unanimously.
VII. Chamber Update — Chamber is accepting applications to Leadership institution. Leadership
starts September 19th and 20tH
VIII. Other Business- Staff talked about a couple new companies who have inquired about
building space. EDA director to attend IEDC training July 31St -August 2nd
IX. Set Next meeting —August 28th, 2013 11:30 AM
X. Adjourn- 12:23 PM
Respectfully Submitted,
Nate Keller
EDA Intern