07-25-2018 EDAM
EDA Board Meeting
Main Conference Room – Enterprise Center
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11:30 AM Wednesday, July 25, 2018
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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 Andy Reid, Finance Director
Matt Jaunich, City Administrator Meagan Donahue & Maddie Christie, EDA Manager/Intern
I. Call to Order
EDA President Mike McGraw called the
Economic Development Authority
Board to order at 11:34 AM.
Financial Summary as of June 2018
Operations
II. Approve Agenda – no action.
Cash Available $153,796
Reserved $56,736
III. Review Minutes
Unreserved $94,262
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June 20 Finance Team meeting.
Economic Development Loan Fund
Cash Available $101,208
M/S/P: Cannon, Block to approve the
Redline Systems Balance $11,044
minutes as written. Passed
Ashwill Industries Balance $11,282
unanimously.
Laser Dynamics Balance (forgivable) $23,000
Innovative Foam Balance (forgivable) $14,355
Downtown Revolving Loan Fund
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June 27 EDA Board meeting.
Cash Available $476,283
Loans Receivable $443,265
M/S/P: Stearns, Christensen to approve
Capital Assets $201,329
the minutes as written. Passed
Total Assets $1,120,877
unanimously.
MIF Loan Fund
Cash Available $33,576
IV. Review of June EDA Financial
NuCrane Loan Receivable -
Statements
Enterprise Center Fund
Cash Available $16,047
Financial Update
Expenditures (Ebert Construction) $30,677
SHOPKO TIF District (TIF 4-5)
Finance Director, Andy Reid, provided
Cash Available $14,446
an update on the EDA financials. (see
Interfund Loan Receivables $480,497
table)
Expenditures $
MEDICAL CLINIC TIF District (TIF 4-16)
Interfund Loan Payable $300,257
M/S/P: Block, Vanderheiden 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 288 likes on Facebook and 80 followers on Twitter.
B. Business Recruitment / Expansions – staff updated the board on recent contacts and
conversations. Warrior Manufacturing is looking to expand by building a 20,000-30,000 sf
warehouse on their lot. They will be moving forward with construction early fall.
C. UPONOR
D. Hotel Project – Planning to open end of August
E. Skilled Workforce Development Plan
F. DEED MN Magazine Advert – New advertisement is in the works.
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G. Japanese Consulate-General visit – Postponed to August 20
H. Industrial Park hay land – Rented for $1 an acre
I. EDA Intern – Maddie Christie was hired and started on 7/24/2018
VI. Proposal for Old Medical Clinic
Brian Forcier (developer of new Hotel) talked with EDA staff about developing the site with
apartments/condos, bike trail, and a restaurant. He would like to remove the houses to the West
of the lot to use for a water retention pond and outside activities.
VII. Hutchinson Enterprise Center – Overhead Door Project
The plan is to enclose the door opening area, rather than taking down the doors completely.
Laser Dynamics to split the cost.
M/S/P: Block, Vanderheiden move to approve funding to frame in door opening. Passed
unanimously.
VIII. Regional Skilled Workforce Summit
Staff brought up a proposal to host an all-day event for invited guests to learn more about Tiger
Path and have a lunch provided for them. Total cost would be around $2,000 for food and room
rental. EDA to look for more sponsors for the event, so far SWIF plans to help cover costs.
Discussion followed. EDA Board expressed approval of the idea.
IX. Annual support of the Farmer’s Market
EDA plans to turn the Farmer’s Market into a non-profit organization. EDA wants to still support
them financially and have some control to make sure they stay on the right path.
EDA will budget for $5,000 and the Farmer’s Market board/director will have to write a grant
request for the amount they need, up to $5,000.
M/S/P: Block, Stearns move to approve budgeting to assist the farmers market up to $5,000 with
the request coming in as a grant proposal. Passed, abstained by Cannon.
X. Grant & Loan Program Applications
Sign & Awning Grant
Kraft Walser Law Office, 131 Main Street S. $1,000
M/S/P: Vanderheiden, Christenson move to approve grant funding for Kraft Walser Law Office
sign. Passed unanimously.
XI. Other Business
Joint meeting with the City Council to be determined.
Sign Project—Short discussion on progress
McLeod Co-Op decided to stay in Glencoe
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XII. Set Next Meeting – 11:30 AM Wednesday, August 29, 2018
XIII. Adjourn
M/S/P: Block, Cannon to adjourn the meeting at 12:57 PM. Passed unanimously.
Respectfully Submitted,
Meagan Donahue & Maddie Christie
Economic Development Program Manager(s)