03-25-2015 EDAMEDA Board Meeting
Main Conference Room — City Center
11:30 AM Wednesday, March 25, 2015
Members present in bold.
MEETING MINUTES
Members
Steve Jansick Daron Vanderheiden Chad Czmowski Corey Stearns
Mary Christensen Mike McGraw Jonny Block
Staff
Miles Seppelt, EDA Director
Jeffrey Page, EDA Program Assistant
Andy Reid, City Controller
Matt Jaunich, City Administrator
I. Call to order
EDA President Steve Jansick called the meeting to order at 11:34 AM
II. Approve Agenda — No Action
III. Review Meeting Minutes
A. February 18th, 2015 Finance Team
M/S/P: Stearns, Block to approve the minutes as written: passed unanimously.
B. February 25th, 2015 Board of Directors
M/S/P: Block, Vanderheiden to approve the minutes as written: passed unanimously.
IV. Review of February financial statements — Andy Reid
A. February 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 $159,644.
• $56,736 is reserved (proceeds from Warrior land sale) and $97,530 is unreserved.
• The Economic Development Loan fund has $418,630 in cash available.
• Loan repayments totaled $1696 for the month, of which $506 was interest income.
• Downtown revolving loan fund has $234,590 in cash available; $153,469 is
unreserved; loans receivable total $707,116 and $201,329 in capital assets (Cenex &
Wright properties).
• Loan repayments totaled $9,082.94 for the month, of which $1,327 was interest
income.
• MIF Loan fund has $1,004,371 in cash available and loans receivable of $259,020
($223,354 NuCrane and $35,666 Customer Elation).
M/S/P: McGraw, Block to approve the financials as presented. Passed unanimously.
V. Director's Report
A. BR &E Visits
Visits were made to Reynolds Logistics, 3D CNC, Hutchinson Manufacturing, 3M, Ohly,
and HTI.
B. Hutchinson Way -Finding & Signage Plan: City staff met with the consultant in early
March. A task force will meet in April; It will be taken to the City Council in June and there
will be an open house in the interim.
C. ARTPLACE Grant: Staff and Steve Cook collaborated on the preparation of the
application and submitted it prior to the date due.
D. TigerPath workforce development initiative: Staff has been working with Patrick Walsh
and Sheila Murphy on the development of H.S. Senior internship opportunities with local
manufacturers. Three employers have so far expressed interest in participating.
E. Website/Marketing Update (tour of website): Staff presented the hutchinsoneda.com
website to the board, demonstrating its functionality, aesthetic improvements, and its
capacity for connecting businesses with the resources they are seeking. Staff also
provided a quick overview of the EDA Facebook page and Twitter activities.
Prior to the next Board meeting, staff plans to develop fillable pdfs for the EDA program
applications on hutchinsoneda.com. They would enable immediate submissions and
potentially streamline the application review and record keeping processes.
VI. Greater Minnesota Partnership
The Board had a short discussion of the Finance Team's recommendation.
M/S/P: Block, Czmowski to discontinue of the EDA membership; passed unanimously.
VII. 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 met twice in the weeks preceding the March
meeting and determined
VIII. Use of Tax Increment Dollars — Discussion
There are tax increment dollars that are available for downtown redevelopment projects.
Several options were reviewed and discussed.
IX. 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.
X. Grant & Loan Applications
Sign & Awning Grant Program
Bonnie J. Westmiller— Owner $1,000
227 Main St. S.
M/S/P: Vanderheiden, Stearns to approve application upon condition of work and application
meeting guidelines; Passed Unanimously.
XI. Other Business
XII. Set Next Meeting — 11:30 AM, Wednesday, March 25th, 2015
XIII. Adjourn — with no further business to address, the meeting was adjourned at 12:48 p.m.
Respectfully Submitted,
Jeffrey Page
EDA Program Assistant