02-25-2015 EDAMEDA Board Meeting
Main Conference Room — City Center
11:30 AM Wednesday, February 25, 2015
Members present in bold.
Members
Steve Jansick
Mary Christensen
MEETING MINUTES
Daron Vanderheiden
Mike McGraw
Staff
Miles Seppelt, EDA Director
Jeffrey Page, EDA Program Assistant
Andy Reid, City Controller
Chad Czmowski
Jonny Block
Liaison
Mary Hodson, Chamber President
Corey Stearns
Call to order
EDA President Steve Jansick called the meeting to order at 11:30 AM
II. Approve Agenda — No Action
III. Review Meeting Minutes
A. January 21St, 2015 Finance Team
M/S/P: Stearns, McGraw to approve the minutes as written: passed unanimously.
B. January 28th, 2015 Board of Directors
M/S/P: Block, Christensen to approve the minutes as written: passed unanimously.
IV. Review of February financial statements — Andy Reid
A. January Financials
• Format of financials has been revised to bring them in line with the most recent
accounting practices. The key change is that interest is shown as income while
loan principal is not.
• Cash available in operations is $170,531.
• $56,736 is reserved (proceeds from Warrior land sale) and $113,306 is unreserved.
• The Economic Development Loan fund has $456,821 in cash available, all
unreserved.
• Redline Systems has made their first loan payment.
• Downtown revolving loan fund has $227,469 in cash available; $74,000 is
Reserved for loans that need to be disbursed.
• Downtown RLF has loans totaling $714,871 and $201,329 in capital assets (Cenex &
Wright property). Total assets in the fund are $1,143,669.
• MIF Loan fund has $998,261 in cash available and loans receivable of $264,973
(NuCrane and Customer Elation). $175,000 is reserved as a local contribution to the
HRA's current rehab program.
M/S/P: McGraw, Vanderheiden to approve the financials as presented. Passed unanimously.
B. Revised 2015 Budget
A revised 2015 EDA budget was presented.
• $3,600 in new revenues was listed in `Refunds & Reimbursements' to reflect
billing for staff time utilized for various projects.
• Salary line item was adjusted to account for the new EDA Director.
• Ten other line items were reduced to bring the EDA budget into balance for the
year.
• 106% of the EDA's annual operating expenses are on hand as a fund balance, a
very healthy amount.
M/S/P: McGraw, Block to approve the revised 2015 EDA Budget. Approved
unanimously.
V. Director's Report
A. BR &E Visits
Visits were made to Stamp -N -Storage, MITGI & Reynolds Transport.
B. Website updates/ Marketing Plan
Staff has made a number of updates to the economic development website and will be
significantly more active on social media. Staff will report marketing metrics each month.
Metrics for the past 30 days:
Website updates 15
Facebook updates 19
Twitter activity 3
C. Hutchinson hosting EPA Grant Seminar
An EPA Grant writing workshop will be held in Hutchinson on July 15tH
D. CENEX site — Update & Project Timing
There are two interested parties for the 3rd Avenue former CENEX lot. The earliest a
project could take place there would be 2016.
E. Hutchinson Way -Finding & Signage Plan
This initiative will get started in early March with a meeting between city staff and the
consultant.
F. ARTPLACE America Grant
Staff is writing a grant proposal to ARTPLACE America for $3 million. Applications are
due March 12 n
G. TigerPath
Staff is working with Hutchinson High School on a workforce development initiative called
"TigerPath."
VI. Hutchinson Code of Conduct Policy for Boards & Commissions
The City Council has adopted a Code of Conduct Policy for all city boards and commissions.
All members received copies.
VII. Finance Team Membership
A. Appointment of Matt McDougall
M/S/P: Czmowski, Block to appoint Matt McDougall to the EDA Finance Team.
Approved unanimously.
B. Update on Scott Ziegler
Mr. Ziegler expressed interest in being a member of the Finance Team, but will have to
wait until after tax season before he'd be able to make a final decision.
VIII. Proposed Incentive Plan — Discussion
Discussion took place on the parameters of a potential incentive program designed to bring a
new company to Hutchinson. A sub -committee will be established to work out the details of
the proposed incentive.
IX. Use of Tax Increment Dollars — Discussion
There are tax increment dollars that are available for downtown redevelopment projects.
Several options were reviewed and discussed.
X. JUMP START MANUFACTURING — Discussion
Staff proposed a business plan contest geared toward helping an individual start a
manufacturing business. After discussion it was agreed that a sub -committee should be
established to formulate a contest similar in nature to the EDA's Jump Start Downtown
Business Plan Contest.
XI. Grant & Loan Applications — NONE
XII. Other Business
A. Resolution of Support — Hwy 212 expansion
M/S/P: McGraw, Stearns to adopt the Resolution of Support. Passed unanimously.
B. Chamber Updates
Chamber President Mary Hodson provided an update on Chamber activities.
XIII. Set Next Meeting — 11:30 AM, Wednesday, March 25th, 2015
XIV. Adjourn
Respectfully Submitted,
Miles R. Seppelt
EDA Director