05-27-2020 EDAM
EDA Board Meeting
Conference Call
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11:30 AM Wednesday, May 27, 2020
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MEETING MINUTES
Economic Development Authority
Financial Summary as of April 2020
Members present in bold.
Operations
Cash Available $77,815
EDA Board Members
Reserved $56,736
Unreserved $18,543
Mike McGraw
Jonny Block Economic Development Loan Fund
Mike Cannon Cash Available $70,428
Corey Stearns Ashwill Industries Balance $6,050
Zephyr Wind Services $94,798
Daron Vanderheiden
Chad Czmowski Laser Dynamics Balance (forgivable) $23,000
Mary Christensen Innovative Foam Balance (forgivable) $14,355
Jeremy Carter
Advances to other funds (Enterprise $283,146
Center)
Downtown Revolving Loan Fund
Cash Available $584,576
Staff
Loans Receivable $338,721
Miles Seppelt, EDA Director
Capital Assets $201,329
Matt Jaunich, City Administrator
Total Assets $1,124,626
Andy Reid, Finance Director
MIF Loan Fund
Maddie Newcomb, EDA Program Manager
Cash Available $3,139
MOXY Loan Receivable $15,240
Enterprise Center Fund
I. Call to Order
Cash Available $35,051
Meeting called to order at 11:33 AM.
SHOPKO TIF District (TIF 4-5)
II. Review Agenda Cash Available $184,806
Interfund Loans Receivable $480,906
III. Review Minutes
MEDICAL CLINIC TIF District (TIF 4-16)
Interfund Loan Payable $322,661
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a. April 15 Finance Team meeting
b. M/S/P: Czmowski, Stearns to approve the minutes as written. Passed unanimously.
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c. April 22 EDA Board Meeting
M/S/P: Christensen, Cannon to approve the minutes as written. Passed unanimously
IV. Review of EDA Financial Statements
Finance Director Andy Reid provided an update on the EDA financials. (Please refer to table)
M/S/P: Vanderheiden, Czmowski to approve the financial report as presented. Passed unanimously.
V.
A. Marketing Plan: FB = 365, T = 93, Facebook updates = 12, Twitter updates = 12, Website updates = 7.
B. Business recruitment / expansions Staff provided an update on recent prospects and ongoing
conversations.
C. Solar Project moving ahead, will need 5-6 acres for a 1-megawatt array. Will know more next month.
D. Jorgenson Hotel Redevelopment staff will reach out to see if this project is progressing.
E. Cenex Site Redevelopment talking with developer about market rate apartments.
F. Clinic Site standing by until we hear back from FEMA. Talked with our representative, the money is
allocated for this use so it will not go to other projects.
G. Hay Land Rental Nathan Ide $982.80
H. SBDC increasing hours at Enterprise Center will be here 3 days a week.
I. Heart of America Project at Ridgewater College updating technical spaces at the college to match
TigerPath, 3M and the community to help fund.
J. Survey of local manufacturers bell curve, some have been severely impacted, some have been
greatly impacted positively, and most have been mildly to moderately affected.
K. Summary of FT discussions regarding downtown programs / Jump-Start Downtown will bring back to
discuss in the fall once things start to settle down, but will continue to brainstorm ways to help the
Hutchinson community.
VI. Appeal of Façade Improvement Grant Decision
Sara Pollman is appealing the EDA decision to deny their second Façade Improvement Grant
Robynn Real Estate received a Façade Improvement Grant in October 2019 to stucco back of the building.
December 2019 the EDA Board updated their program guidelines to allow only one grant per building in a 5-
year period.
ovement grant rebuilding the back entrance.
Discussion on the rule change that was made in December 2019.
M/S/P: Czmowski, Stearns to deny the appeal. Cannon abstained, passed unanimously.
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VII. Inquiry about leasing Goebel 5 Avenue Lot by Hutchinson CO-OP
For outdoor grain storage / 5-year lease / 8-10 the site
Discussion about the options the EDA has with the site in question, taking into consideration what the EDA
has put into the site.
Staff to reach out to Hutchinson CO-OP will bring back next month.
VIII. Grant & Loan Program Applications
Sign & Awning Grant Program
State Farm, 34 Main Street South Steve Kropp $1,000
M/S/P: Czmowski, Stearns to approve the grant application as presented. McGraw abstained. Passed
unanimously.
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Arts Place, 35 1 Ave SW Tim Ulrich $1,000
M/S/P: Stearns, Christensen to approve the grant application as presented. Cannon abstained. Passed
unanimously.
Façade Improvement Matching Grant
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Arts Place, 35 1 Ave SW Tim Ulrich $1,000
M/S/P: Block, Vanderheiden to approve the grant application as presented. Cannon abstained. Passed
unanimously.
IX. Other Business none
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X. Set Next Meeting 11:30 AM Wednesday, June 24, 2020
XI. Adjourn M/S/P: Christensen, Cannon to adjourn the meeting at 12:24 pm. Passed unanimously.
Respectfully Submitted,
Madison Newcomb
EDA Program Manager