03-31-2010 EDAAEDA Board Meeting
Main Conference Room — City Center
11:30 AM Wednesday, March 31St, 2010
MARCH MINUTES
Tim Ulrich Steve Jansick Mike Retterath Daron Vanderheiden
Chad Czmowski Jim Haugen Mike McGraw
Staff
Miles Seppelt, EDA Director
Patrick Brama, EDA Assistant
Jeremy Carter, Finance Director
Liaison
Bill Corby, Chamber President
Updated: 30 March 2010
I. Call to Order
EDA President Tim Ulrich called the meeting to order at 11:37 AM.
II. Approve Agenda
No Action
III. Review Meeting Minutes
A. February 24th Board of Directors
M /S /P: Czmowski, Jansick to approve the minutes as written. Passed unanimously.
B. February 17th Finance Team
M /S /P: Ulrich, Czmowski to approve the minutes as written. Passed unanimously.
IV. Review of February Financial Statements — Finance Director
• Cash available for operations is $174,067.
• The Economic Development Loan Fund has $88,956 in cash available and assets
totaling $206,775. All loans are current.
• The Downtown Revolving Loan Fund has $381,027 in cash available, $684,035 in loans
receivable and has assets totaling $1,266,391. All loans are current.
• A total of $11,665 in revenues was received (loan payments and interest earnings) for the
Downtown Loan Fund.
• The MIF Loan Fund has $189,045 in cash available, $500,000 in grants receivable and
$524,944 in loans receivable. Total assets are $1,213,709.
• The MIF Loan Fund collected $8,553 in loan repayments and interest earnings.
M /S /P: Jansick, Vanderheiden to approve the financial report. Passed unanimously
V
VI.
VII.
VIII
IX.
X.
XI.
XII.
Director's Report
A. MCCF — September
B. Industrial Park
■ Construction (R & R starting 415; Mathiowetz possibly 4112)
■ Bill & Jon Christensen will farm two small EDA lots
■ Hackbarth Parcel —Annexed, being rezoned
■ Grant Status
1. State $240,000 received (out of $250K)
2. Federal $544,819 requested
C. NuCrane Manufacturing
D. Company "X" — May
E. County Project — moving ahead
Stritesky Property — wind farm?
Stritesky Property — the issue
Grant & Loan Applications
Other Business
A. Correspondence
Chamber Update
Set Next Meeting — April 28th
Adjourn
Business Retention Visits
■ Ashwill Industries