06-22-2022 EDAM
EDA Board Meeting
Hutchinson Enterprise Center
nd
11:30 AM Wednesday, June 22, 2022
____________________________________________________________________________
MEETING MINUTES
Economic Development Authority
Members present in bold.
Financial Summary as of May 2022
Operations
EDA Board Members
Cash Available $79,282
Reserved $56,736
Mike McGraw
Unreserved $18,276
Jonny Block
Mike Cannon Economic Development Loan Fund
Corey Stearns Cash Available $158,734
Chad Czmowski
Zephyr Wind Services $69,720
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 $444,088
Andy Reid, Finance Director
Loans Receivable $303,402
Maddie Newcomb, EDA Program Manager Capital Assets $201,329
Total Assets $1,085,731
Guests
MIF Loan Fund
Liz Danielson, McLeod County Economic
Cash Available $7,562
Development Coordinator
MOXY Loan Receivable $9,766
Enterprise Center Fund
I. Call to Order
Cash Available $42,142
Meeting called to order at 11:30 AM.
SHOPKO TIF District (TIF 4-5)
Cash Available $289,857
II. Introductions
Interfund Loans Receivable $397,785
MEDICAL CLINIC TIF District (TIF 4-16)
III. Review Agenda
Interfund Loan Payable $260,412
IV. Review Minutes
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a. May 18 Finance Team meeting
M/S/P: Stearns, Czmowski to approve the minutes as written. Passed unanimously.
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b. June 1 EDA Board Meeting (May Meeting)
M/S/P: Christensen, Stearns to approve the minutes as written. Passed unanimously
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c. June 10 EDA Board (Special Meeting)
M/S/P: Czmowski, Stearns to approve the minutes as written. Passed unanimously.
V. Review of EDA Financial Statements
Staff provided an update on the EDA financials. (Please refer to table)
M/S/P: Czmowski, Stearns to approve the financial reports as presented. Passed unanimously.
VI.
A. Marketing Plan: FB = 750, T = 98, Facebook updates = 0, Twitter updates = 0, Website updates = 2 the
B. Business Recruitment / Expansions staff gave an overview of projects and prospects.
C. Stearnswood & Pride Solutions both projects are moving along nicely.
D. Franklin Redevelopment Project
FEMA grant adjustment $157,500 - Staff submitted application for an adjustment to the FEMA grant
amount to make the full grant amount about $664k total.
Relocation meetings with property owners relocation consultant confirmed all property owners are
willing to sell. He is in the proces
to figure out their full relocation benefits package. Hoping to get purchase agreements into place in
the next couple months.
E. 3M grant opportunity staff submitted a proposal for a grant from 3M at their request, this donation would
cover the purchase of a screen printer, a large format printer, and a laser engraver for Tiger MFG at HHS.
F. FireLake Mfg closed on loan last Friday, last step is to file the UCC.
G. Quade Project Quade was okay with paying for the lot up front and getting reimbursed over 8 years, he is
currently pulling documents together and getting quotes for the project. A GAP analysis will then be
performed to verify need for public assistance.
H. Rolling power blackouts this summer Jeremy Carter explained the situation with the energy grid and the
steps HUC is taking to prepare for any rolling blackouts. HUC is putting together contingency plans
depending on how much Hutchinson will have to load shed.
VII. EDA Board Vacancy
Consider nominating Finance Team member to fill vacancy.
CANDIDATES: Josh Laffen (2020) / Jack Daggett (2016) / OTHERS?
Discussion on possible candidates.
M/S/P: Cannon, Stearns to recommend Jack Daggett to the Mayor for consideration for the EDA Board
vacancy. Passed unanimously.
VIII. Proposal for marketing initiative
Discuss collaborative marketing effort to bring new workforce to Hutchinson.
Staff attended the EDAM conference a couple weeks ago and the panel of site selectors kept stressing
the importance of workforce.
Discussion on McLeod County labor force projections and workforce commuting patterns.
This marketing initiative would feature: a website with a very identifiable name (e.g.
www.HutchJobs.com), a common state-of-the-art job application (if the business chooses to not use
their own), and a very intensive, minimum one-year, marketing effort using social media, legacy, media
and other various marketing avenues.
Estimating cost to be around $50-60K.
Staff putting together an HR Roundtable to pitch this idea and gauge interest. Will be meeting with
Vivid Image to discuss how participation and costs will be structured.
More to come next month.
IX. Jump-Start Downtown Winners
Consider granting extension of time to claim JumpStart Prize and launch business.
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They did not get open by the deadline (October 11) outlined in Jump-Start Downtown. Discussion on
rules.
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M/S/P: Christensen, Stearns to approve extending the deadline for opening to December 31, 2022. Passed
unanimously.
X. Grant & Loan Program Applications
Façade Improvement Matching Grant
Bed & Breakfast (the Dragonfly Inn) Mike & Deb Brewer $6,000
325 Hassan St SE
M/S/P: Czmowski, Cannon to approve Façade Improvement grant in the amount of $6,000. Passed
unanimously.
XI. Other Business
Discussion on river dredging.
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Discussion on a potential post-frame building on 1140 5 Ave SE, consensus is to explore that
possibility further.
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XII. Set Next Meeting 11:30 AM Wednesday, July 27, 2022
XIII. Adjourn With no further business to attend to, the meeting adjourned at 12:54pm.
Respectfully Submitted,
Madison Newcomb
EDA Program Manager