08-28-2013 EDAMEDA Board Meeting
Main Conference Room — City Center
11:30 AM Wednesday, August 28th, 2013
Members present in bold.
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 11:34 AM.
Approve Agenda — No Action
III. Review Meeting Minutes
A. July 24th Board of Directors
Chad Czmowski
M/S/P: Czmowski, Block to approve the minutes as written; passed unanimously.
B. July 17th Finance Team
M/S/P: Jansick, Vanderheiden to approve the minutes as written; passed unanimously.
IV. Review July EDA Financial Statements — Lee Miller
A. Cash available in operations is $171,028.
B. $56,736 is reserved (proceeds from Warrior land sale) and $121,586 is unreserved.
C. The Economic Development Loan fund has $1,208,859 in cash available.
D. $100,000 is reserved (Luce Line Trail contribution) and $125,000 for Depot/ farmers
market costs. $983,859 is unreserved.
E. Loan payments for the month were $9,233
F. Downtown revolving loan fund has $177,832 in cash available; $151,608 is unreserved,
loans totaling $745,624 and $201,329 in capital assets (Cenex & Wright property).
G. Loan repayments totaled $9,970 for the month.
H. MIF Loan fund has $216,316 in cash available and loans receivable of $326,896
(NuCrane).
I. Loan payments for the month were $5,640.
M/S/P: Block, Czmowski to approve the financials as presented; passed unanimously.
V. Director's Report
A. JUMPSTART DOWNTOWN: Small Business consulting has started for Jumpstart
downtown winner. Accompanying the opening of the bakery will be a press release.
B. Depot Marketplace Redevelopment: Staff requested action on the bids for the
assembly of the pavilion and concrete work.
M/S/P: Block, Vanderheiden to approve the bid of $15,000 for pavilion assembly; passed
unanimously.
M/S/P: Jansick, Block to approve the bid of $16,144 for concrete work; passed unanimously
C. 2014 Budget Review: Staff proposed a preliminary budget for 2014.
M/S/P: Jansick, Czmowski to approve the 2014 budget as presented; passed unanimously.
D. MN Angel Network: Staff updated the board on MN Angel Network activities to date.
Discussion followed on future involvement.
E. Social Media Update: Staff talked about possibilities of suspending Twitter and
Facebook accounts. Discussion followed about benefits of using social media. Board
expressed a desire to continue social media activities in 90 days.
F. Southwest Initiatiive Foundation request: Staff presented a request from SWIF
requesting that the EDA increase its contribution from $5,000 to $7,500. Discussion
followed. Board stated that $7,500 was 5% of the EDA's budget.
M/S/P: Block, Vanderheiden to approve a $5,000 contribution to SWIF; passed unanimously.
VI. Review of Grant and Loan Program Rules- Staff presented changes to the Grant and Loan
programs. Main changes include changing "HCDC" to "EDA", allowing applicants to be
reimbursed for signs/awnings after work has been completed(provided application has been
submitted within 60 days after work is finished) and to establish procedure on accepting
appraisals if required as part of the credit/collateral review.
M/S/P: Block, Vanderheiden to approve changes to grant and loan applications as presented;
passed unanimously.
VII. Grant and Loan Applications
Sign & Awning Grant Program
Tammy Lauer/Jeff Krueger $1,950
30 Main St. N
M/S/P: Czmowski, Block to approve grant request; passed unanimously.
VIII. Chamber Update — Arts and Crafts Festival will take place on September 13tH and 14tH
IX. Other Business- Staff talked about potential opportunities during MN Manufacturing week to
help celebrate local manufacturing firms.
X. Set Next meeting — September 25th, 2013 11:30 AM
XI. Adjourn- 12:52 PM
Respectfully Submitted,
Nate Keller
EDA Intern