03-23-2022 EDAM
EDA Board Meeting
Hutchinson Enterprise Center
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11:30 AM Wednesday, March 23, 2022
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MEETING MINUTES
Economic Development Authority
Members present in bold.
Financial Summary as of February 2022
Operations
EDA Board Members
Cash Available $125,168
Reserved $56,736
Mike McGraw
Unreserved $64,927
Jonny Block
Mike Cannon Economic Development Loan Fund
Corey Stearns Cash Available $155,560
Chad Czmowski
Zephyr Wind Services $73,101
Mary Christensen
Laser Dynamics Balance (forgivable) $23,000
Jeremy Carter
Innovative Foam Balance (forgivable) $14,355
Advances to other funds (Enterprise $246,052
Center)
Staff
Miles Seppelt, EDA Director Downtown Revolving Loan Fund
Matt Jaunich, City Administrator Cash Available $420,684
Andy Reid, Finance Director
Loans Receivable $332,853
Maddie Newcomb, EDA Program Manager
Capital Assets $201,329
Total Assets $1,091,779
Guest
MIF Loan Fund
Jenny Zhu
Cash Available $6,888
MOXY Loan Receivable $10,480
I. Call to Order
Enterprise Center Fund
Meeting called to order at 11:31 AM.
Cash Available $40,359
SHOPKO TIF District (TIF 4-5)
II. Review Agenda
Cash Available $206,221
Interfund Loans Receivable $482,422
III. Review Minutes
MEDICAL CLINIC TIF District (TIF 4-16)
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Interfund Loan Payable $345,065
a. February 16 Finance Team meeting
M/S/P: Stearns, Cannon to approve the
minutes as written. Passed unanimously.
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b. February 23 EDA Board Meeting
M/S/P: Block, Czmowski to approve the minutes as written. Passed unanimously
IV. Review of EDA Financial Statements
Mr. Reid provided an update on the EDA financials. (Please refer to table)
M/S/P: Christensen, Stearns to approve the financial reports as presented. Passed unanimously.
V. Director’s Report
A. Marketing Plan: FB = 731, T = 97, Facebook updates = 14, Twitter updates = 14, Website updates = 1
B. Business recruitment / expansions – Staff provided an update on recent prospects and ongoing
conversations.
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C. Jorgensen Hotel – closed on March 18, project moving ahead.
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D. Employee Retention Workshop – April 13, will focus on best practices for employee retention.
E. Civil Air Patrol Project - moving forward in 2 phases, phase 1 to be the hanger and taxiway – summer 2022
project. They are currently seeking additional funding for phase 2 – barracks & classroom.
F. ISD 423 Superintendent Search – down to 5 candidates, interviews/community member meetings taking
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place next week. Decision expected to be made around April 1.
G. Tiger MFG Workshop – small group from the high school (teachers/students) will take a trip to Eleva-Strum
High School to tour Cardinal Manufacturing. This will help gain some momentum to take Tiger Mfg to the
next level.
VI. Potential Industrial Park Projects
A. Quade Building – currently Quade leases to a seed genetics company that needs to expand. Quade is
looking to build a 30,000-sf building to accommodate this company as warehouse/office space.
B. McClure Building – an option for this 16,000+ sf building is the lot west of Customer Elation, utilizing our 2/3
land write down program.
C. Beverage Company – will connect with us in June.
D. FireLake Manufacturing – need to get out of their current location, looking to either lease or build.
VII. Hutch Uptown Commons (Franklin Redevelopment)
A. Appoint advisory team
o Carter and Cannon volunteered to be a part of the advisory team to assist with property owner
negotiations.
B. Potential project funding model
o FEMA grant was approved, updated appraisals came back for the 5 houses, overall the appraisals
were 35% higher from 2019.
o Discussion on sources/uses for the project, including: acquisition costs, relocation expenses,
inspection fees, title & utility work, etc.
o Question is, how do we front the higher cost of this project?
o One possible model is to fund with ARPA money (EDA would call CENEX site contribution satisfied),
put that into the Downtown Revolving Loan Fund, fund the project from the Downtown RLF, then the
TIF district would reimburse the Downtown RLF.
o This model would create a renewable resource for future projects, and would be a strategic use of
the ARPA funds.
o Discussion on the property being set up as a Planned Unit Development and how the possible trail
segment could be used as public use as per requirements of the PUD.
o Next step in this process is negotiations with homeowners.
VIII. “Imagine Hutchinson” Downtown Plan Review / Discussion
o Currently we have 7 projects happening downtown
o Plan is to filter through each segment of the “Imagine Hutchinson” Downtown plan to determine what
our next projects need to be.
o Discussion on two of the segments: Strengthen Tourism through Enhanced Parks and Recreation /
Foster Sustainability & Stewardship
o Pulled a few items from each segment to bring back for further discussion.
IX. Grant & Loan Program Applications – NONE
X. Other Business – NONE
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XI. Set Next Meeting – 11:30 AM Wednesday, April 27, 2022
XII. Adjourn – With no further business to attend to, the meeting adjourned at 12:43pm.
Respectfully Submitted,
Madison Newcomb
EDA Program Manager