07-23-2014 EDAMEDA Board Meeting
Main Conference Room — City Center
11:30 AM Wednesday, July 23rd, 2014
Members present in bold.
MEETING MINUTES
Members
Tim Ulrich Steve Jansick
Mary Christensen Mike McGraw
Staff
Lee Miller, EDA Director
Andy Reid, City Controller
Jeffrey Page, EDA Assistant
Daron Vanderheiden Chad Czmowski
Jonny Block
I. Call to Order - Ulrich called the meeting to order at 11:34 AM
II. Approve Agenda — a Sign & Awning grant request from Dana's Dog Spa was added to the
agenda.
III. Review Minutes of May and June Finance Team Meetings
M/S/P: Jansick, Block to approve the May Finance Team Minutes; passed unanimously.
M/S/P: Jansick, Ulrich to approve the June Finance Team Minutes; passed unanimously.
IV. Review Minutes of the May EDA Board Meeting (June Board meeting was cancelled)
M/S/P: Czmowski, Block to approve the May EDA Board Meeting Minutes; passed
unanimously.
V. Review May EDA Financial Statements — Lee Miller
■ Cash available in operations is $129,071.
■ $56,736 is reserved (proceeds from Warrior land sale) and $66,358 is unreserved.
■ The Economic Development Loan fund has $1,163,842 in cash available.
■ $100,000 is reserved (Luce Line Trail contribution). $1,065,940 is unreserved.
■ Loan repayments for the month were $9,233.
■ Downtown revolving loan fund has $244,798 in cash available; $234,131 is unreserved,
loans receivable total $694,982 and $201,329 in capital assets (Cenex & Wright
properties).
■ Loan repayments totaled $8,815 for the month.
■ MIF Loan fund has $270,775 in cash available and loans receivable of $265,185
(NuCrane).
M/S/P: Block, Czmowski to approve the May financials as presented; passed unanimously.
VI. Review June EDA Financial Statements — Lee Miller
■ Cash available in operations is $179,278.
■ $56,736 is reserved (proceeds from Warrior land sale) and $122,472 is unreserved.
■ The Economic Development Loan fund has $1,173,075 in cash available.
■ $100,000 is reserved (Luce Line Trail contribution). $1,035,173 is unreserved.
■ Loan repayments for the month were $9,233.
■ Downtown revolving loan fund has $254,665 in cash available; $204,999 is unreserved,
loans receivable total $686,344 and $201,329 in capital assets (Cenex & Wright
properties).
■ Loan repayments totaled $9,868 for the month.
■ MIF Loan fund has $270,775 in cash available and loans receivable of $265,185
(NuCrane).
M/S/P: VanderHeiden, Jansick to approve the June financials as presented; passed
unanimously.
VII. Director's Report
A. Depot Marketplace Redevelopment: Jeff Haag is donating time and materials to finish the
floors in the west side of the depot. B&C anticipates having bathroom fixtures installed soon
after. Legacy Funds may be a source of funding for the preservation of the coal graffiti in the
east side of the depot. The McLeod County Historical Society is researching the best way to
preserve the coal based graffiti. Once a project scope has been identified, staff will research
what funding might be available to complete this preservation effort.
B. 2014 Jumpstart Downtown Competition: There was no winner this year. Board discussed
possible changes to the competition in response to a low number of applicants and low
vacancy rates of store space in downtown Hutchinson, including: expansion of eligible areas,
naming rights, and a general discussion of the competition's long term viability.
C. Reynolds Transport warehouse update: Construction costs have increased by more than
$200,000 due he shortage of available contractors in the area. Ownership is inclined to defer
construction until the spring of 2015.
D. Small Cities Development Program: There are six commercial sites around the depot
marketplace whose owners have expressed varying levels of interest in participating. There's
a $40,000 cap per property with a seven year maximum term. Discussion followed on the
expansion of defined area to include the trail corridor along the south side of Hwy 7, west of
Hwy 15.
E. Positively MN marketing update: Hutchinson is on the list of cities for a Site Selector tour
on August 11th. The day's events will include a CEO roundtable and facility tours.
F. Update on business prospects: Staff is continuing discussion with several prospective
companies regarding space and financing needs.
VIII. Grant and Loan Applications
Downtown Commercial Rehabilitation
Jason Werowinski $81,941.21
19 & 21 Main St. N
M/S/P: Jansick, VanderHeiden to approve the loan request of $81,941.21 at 3.25% for 15
years, provided all program requirements are met; passed unanimously;
George Quast $ 4,963.53
136 Hassan St. S
M/S/P: Block, Czmowski to approve the loan request of $4,963.53 at 1.25% for 10 years,
provided all program requirements are met ; passed unanimously; Jansick abstained.
Sign & Awning Grant Program
Dana's Dog Spa $2,000
M/S/P: VanderHeiden, Block to approve the sign grant request of $2,000, provided all
program requirements are met; passed unanimously.
IX. Other Business: none
X. Set Next Meeting — 11:30 AM Wednesday August 27th, 2014.
XI. Adjourn - With no further business to attend to, the meeting was adjourned at 12:48 PM.
Respectfully Submitted,
Lee Miller
EDA Director