10-22-2014 EDAMEDA Board Meeting
Main Conference Room — City Center
11:30 AM Wednesday, October 22th, 2014
Members present in bold.
MEETING MINUTES
Members
Tim Ulrich Steve Jansick Daron Vanderheiden Chad Czmowski
Mary Christensen Mike McGraw Jonny Block
Staff
Lee Miller, EDA Director
Andy Reid, City Controller
Jeffrey Page, EDA Assistant
Call to Order - Ulrich called the meeting to order at 11:34 AM.
Approve Agenda — No Action
III. Review Minutes of September Finance Team Meeting
M/S/P: Ulrich, McGraw to approve the September Finance Team Minutes; passed unanimously.
Review Minutes of the September EDA Board Meeting
M/S/P: Czmowski, Block to approve the September EDA Board Meeting Minutes; passed unanimously.
IV. Review September EDA Financial Statements — Lee Miller
■ Cash available in operations is $145,958.
■ $56,736 is reserved (proceeds from Warrior land sale) and $86,374 is unreserved.
■ The Economic Development Loan fund has $505,552 in cash available.
■ $100,000 is reserved (Luce Line Trail contribution). $405,552 is unreserved.
■ Loan repayments for the month were $409.
■ Downtown revolving loan fund has $194,406 in cash available; $113,721 is unreserved; loans receivable
total $748,646 and $201,329 in capital assets (Cenex & Wright properties).
■ Loan repayments totaled $10,008 for the month.
■ MIF Loan fund has $949,689 in cash available and loans receivable of $309,770 ($244,339 NuCrane and
$65,431 Customer Elation).
M/S/P: Block, Vanderheiden to approve the September financials as presented; passed unanimously.
V. Director's Report
A. Depot Marketplace Redevelopment: Staff updated the Board on the Depot Marketplace project being
selected as a finalist for the ReScape Award. Staff had submitted the project for the award under the
Small City Impact Category. EDA, Engineering, and Planning staff, and the Mayor will be attending the
awards banquet on Thursday, October 23rd. Staff updated the Board on market successes, noting that
vendor attendance has decreased as fewer crops are still in season.
B. Manufacturing Tours/Made in McLeod: Staff informed the Board of general success of the opportunity
for parents and students to tour local industries on October 15th. Seven manufacturers participated, some
of whom gave tours the entire day. There were 50 participants, including student representation of grades
6 through 12. DEED representatives and local media also participated in the day.
C. Cenex site monitoring wells: Staff informed the Board that the five monitoring wells may now be sealed.
Planning Staff estimates the costs of filling them are unlikely to exceed $400 each. Staff can apply for a
grant from the well sealing fund from the Water Department which will cover up to 75% of the cost of
sealing the wells.
M/S/P: McGraw, Christensen to approve sealing the five monitoring wells yet this year, with costs not to exceed
$600 after the Water Department 75% cost share grant; passed unanimously.
D. Downtown Revolving Loan Fund Program Recommendations: Staff presented to the Board the
program changes recommended by the Finance Team subcommittee.
M/S/P: Block, Chistensen to approve the Finance Team subcommittee recommended changes to the Downtown
Commercial Rehabilitation Loan, Downtown Storefront Revitalization Matching Grant, and Sign & Awning Grant
programs as presented to the Board, and to lift the moratorium on said programs, effective immediately; passed
unanimously.
E. EDA Website: Staff recommends merging both of the EDA's websites into one. There is great content
on the minnesotasmanufaturingcity.com site but not nearly as much traffic to the site as
hutchinsoneda.com. Combining both sites will also result in some cost savings, as only one page will
have to be hosted. Staff recommends maintaining rights to both domains.
M/S/P: Block, McGraw to consolidate all the website content onto hutchinsoneda.com and to maintain the rights to
minnesotasmanufacturingcity.com; passed unanimously.
F. Update on business prospects: Staff is continuing discussions with several prospective companies
regarding space and financing needs.
VI. Grant and Loan Applications
Sign & Awning Grant
Michael McGraw/State Farm Insurance $2,000
M/S/P: Block,Czmowski to approve the application for $2,000, provided the applicant complies with program
guidelines; passed unanimously; McGraw abstained.
VII. Other Business
A. Vanderheiden informed the Board of his recent trips to South Dakota to explore various Career and
Technical Academy models.
VIII. Set Next Meeting — 11:30 AM Wednesday November 26th, 2014.
IX. Adjourn - With no further business to attend to, the meeting was adjourned at 12:50 PM.
Respectfully Submitted,
Jeffrey Page
EDA Assistant