12-28-2011 EDAMEDA Board Meeting
Main Conference Room — City Center
11:30 AM Wednesday, December 28, 2011
Members present in bold.
MEETING MINUTES
Members
Tim Ulrich Steve Jansick Mike Retterath Daron Vanderheiden
Chad Czmowski Mary Christensen Mike McGraw
Staff
Miles Seppelt, EDA Director
Seth Kauffman, EDA Assistant
Joe Lang, EDA Assistant
Andy Reid, City Controller
Liaison
Bill Corby, Chamber President
Call to order
A. EDA President Tim Ulrich called the meeting to order at 11:34 AM
Approve Agenda — No Action
III. Review meeting minutes:
A. November 23rd Board of Directors
M/S/P: Czmowski, Christensen to approve the minutes as written; passed unanimously.
B. November 16th Finance Team
M/S/P: Jansick, Ulrich to approve the Finance Team minutes as written; passed
unanimously.
IV. Review November EDA Financial Statements — Andy Ried
■ Cash available in operations is $90,428
■ $56,736 is reserved (proceeds from Warrior land sale) and $30,327 is
unreserved.
■ The Economic Development Loan fund has $495,977 in cash available.
■ Loan payments for the month were $9,759
■ Total assets in the Economic Development Loan fund are $917,650.
■ Downtown revolving loan fund has $493,282 in cash available, loans totaling
$545,506 and $201,329 in capital assets (Cenex & Wright property).
■ Loan repayments totaled $12,040 for the month.
■ MIF Loan fund has $101,028 in cash available and loans receivable of $417,181
(NuCrane).
■ A total of $11,281 in MIF loan repayments came in during the month, as
NuCrane made both their November and December payments.
M/S/P: Czmowski, Jansick to approve the financial report as presented; passed unanimously.
V. EDA Board annual compensation —Andy distributed annual compensation to the board.
VI. Director's Report
A. Federal Grant Status (Industrial Park): $238,995 Remaining — Staff has been calling
regularly with no reply as yet, still pursuing.
B. Business Recruitment Update —
1 . Brau Brother Brewing — Staff talked with company, looking at other options, but
Hutchinson is still on the list (though less likely)
2. Industrial Custom Products — Staff made phone calls and no reply, probably a
dead prospect.
3. Perfect Circle — Staff placed a phone call and left a message, still prospecting.
C. Marketing Plan Update — Staff showed EDA Board a proposed new logo. Discussion
and comments followed, awaiting more feedback.
D. Business Retention & Expansion Program — Staff visited seven companies in town
and received positive reports. Companies seemed to be doing well. Visited were:
✓ Hutchinson Manufacturing ✓ Pride Solutions / Plastic Specialties
✓ NuCrane Manufacturing ✓ Done Rite Powder Coating
✓ Stearnswood ✓ G R Kreations / Innovative Foam
✓ 3M
E. Depot / Farmer's Market Update — Staff provided an update on the current status of the
MPCA review process. Planning commission process will begin in January.
VII. Minnesota Angel Network Update — Staff provided an update on companies from MNAN. A
couple appealing companies stood out to the board. MNAN has indicated that Board
members are welcome to attend any of the advisory meetings. Processes will have to be
developed for formally reviewing these companies and dealing with prospects.
VIII. Strategic Planning 2012 — Staff provided a packet of information for Board members to
review in preparation for the upcoming strategic planning meeting. A special joint meeting
will be held between the EDA Board & EDA Finance Team to review the information and
consider the future of economic development in Hutchinson. Plans will be set in January.
IX. Grant & Loan Applications
A. Sign & Awning Grant Program
Leah Watcke — The Hair Lounge $425
246 Main Street S. #4
M/S/P: Czmowski, Christensen to approve the grant request; passed unanimously.
George Quast — Troy Scotting Law Office $1,874.16
148 Hassan St. SE
M/S/P: Czmowski, Christensen to approve the grant request; passed unanimously
B. Downtown Commercial Loan Program
Joseph Mayland — Main Street Sports Bar 15 year @ 3.25% $130,000
16 & 18 Main Street North
M/S/P: Czmowski, Jansick to approve a 15 year loan at 3.25%, contingent upon verifying
the appraisal of the two lots; passed unanimously. Ulrich abstained.
X. Other Business — None
XI. Chamber/ CVB Update — EDA Intern (Joe) updated the board on upcoming chamber events.
A. Holiday after hours —Thursday January 12th
B. Annual Banquet —Friday, January 27, 5:30-10:00 pm., Hutchinson Event Center, Tickets are $30.
C. New Logo —Watch for the Chambers new logo.
XII. Set Next Meeting — January 25th
XIII. Adjourn
With no further business to attend to, the meeting was adjourned at 12:37 PM.
Respectfully Submitted,
Joe Lang
EDA Assistant