10-25-2017 EDAM
EDA Board Meeting
Main Conference Room – City Center
th
11:30 AM Wednesday, October 25, 2017
____________________________________________________________________________
Members present in bold.
MEETING MINUTES
EDA Board Members
Mike Cannon Corey Stearns Daron Vanderheiden Chad Czmowski
Mary Christensen Mike McGraw Jonny Block
Staff
Miles Seppelt, EDA Director
Matt Jaunich, City Administrator
Jeff Page, EDA Program Manager
I. Call to Order
Economic Development Authority
EDA President McGraw called the Board
Financial Summary as of September 31, 2017
to order at 11:34 AM.
Operations
Cash Available $123,925
II. Approve Agenda – no action.
Reserved $56,736
Unreserved $66,626
III. Review Minutes
Economic Development Loan Fund
Cash Available $419,938
th
A. September 20, 2017 Finance
Loan 1 Balance $12,697
Team meeting.
Loan 2 Balance $13,617
Loan 3 Balance (forgivable) $23,000
M/S/P: Cannon, Stearns to
Downtown Revolving Loan Fund
approve the minutes as written.
Cash Available $436,830
Passed unanimously.
Loans Receivable $476,682
Capital Assets $201,329
th
B. September 27 EDA Board
Total Assets $1,114,841
meeting.
MIF Loan Fund
Cash Available $243,620
M/S/P: Block, Christensen to
Loan Receivable $50,343
approve the minutes as written.
Enterprise Center Fund
Passed unanimously.
Cash Available $134,913
Expenditures (Ebert Construction) $515,309
IV. Review of September EDA
SHOPKO TIF District (TIF 4-5)
Financial Statements
Cash Available $21,164
Interfund Loan Receivables $297,203
Andy Reid provided an update on the
Expenditures $0
EDA financials.
MEDICAL CLINIC TIF District (TIF 4-16)
Interfund Loan Payable $289,058
Staff needs to follow up on the Ashwill
loan.
M/S/P: Vanderheiden, Stearns to approve the financial report as presented. Passed unanimously.
V. Director’s Report
A. Marketing Plan Report:
Facebook updates = 7, Twitter activity = 7, Website updates = 0
Social media effort has 239 likes on Facebook and 70 followers on Twitter.
B. Business Recruitment / Expansions – staff updated the board on recent contacts and
conversations.
C. Old Medical Clinic Redevelopment – no update.
D. UPONOR
Staff is working with HTI to see if the Hwy 7 driveway can be converted into a public
street.
HTI would like to see a public street all the way from Hwy 7 over to Bluff Street. Staff
will check with DEED about potential grant availability.
Development Agreement is in UPONOR’s hands and we’re waiting to hear back.
E. Hotel Project
th
Groundbreaking scheduled for 1:30 PM, Thursday, October 26.
Goal is to close on the property by Thanksgiving.
Construction would commence immediately thereafter and the new hotel is scheduled
to open sometime in June, 2018.
F. Incubator Project
nd
A Business After Hours event is scheduled for Thursday, February 22, 2018 at 4 PM.
We will also have a Made in McLeod event there that morning.
Building is nearly complete – aiming for completion the first week of November.
Leases are signed with both companies.
G. DEED Grant Reimbursement
$363,278 collected thus far with an outstanding payment request to DEED for
$253,869.
H. Skilled Workforce Development Plan
The new tech-ed area at the high school has been christened as the “Center for
Technical Excellence”
New logos have been developed for the TigerPath Academies and each of the four
career academies.
Pretty much all the new equipment is now in place.
Currently staff is working on developing the HutchTigerPath website, signage for the
new CTE and Career banners for the new high school.
st
Construction of the new classrooms should be complete December 1.
VI. Review of Downtown Programs (MainStreet 2020 Project)
Short discussion on the EDA’s downtown programs.
A sub-committee will be established to review the downtown programs and recommend
potential changes in light of the MainStreet 2020 Project.
VII. Hanson Property – possible donation to the City?
Staff reported that LaVonne Hanson and her brother might be interested in donating property to
the City. Included would be a 20,000 square foot manufacturing building and the original
“Chicken Coop” building where HTI was founded.
The EDA Finance Team will evaluate this at their next meeting.
th
VIII. Manufacturing Summit – Wednesday, February 7
rdth
The 3 Annual Manufacturing Summit was set for Wednesday, February 7 over at the Center
for Technical Excellence at the new high school.
Staff will line up Zella’s to cater.
IX. Grant & Loan Program Applications – none.
Sign & Awning Grant Program
Bellina Ame Medspa – Ann Schwartz $1,000
134 Main St. S, Suite B (Marc & Michele Max Bldg)
Façade Improvement Program $2,500
Premier Investments (Casey Clark)
31 Main Street North (Janousek Building)
M/S/P: Czmowski, Cannon to approve both grant applications. Passed unanimously.
X. Other Business – none.
nd
XI. Set Next Meeting – 11:30 AM Wednesday, November 22, 2017
XII. Adjourn
M/S/P: Block, Christensen to adjourn the meeting at 12:52 PM. Passed unanimously.
Respectfully Submitted,
Miles R. Seppelt
Economic Development Director