03-28-2012 EDAAEDA Board Meeting
Main Conference Room — City Center
11:30 AM Wednesday, March 28, 2012
Updated: 22 March 2012
AGENDA
Call to order
II. Approve agenda
III. Review meeting minutes
A. February 22nd Board of Directors
B. February 15th Finance Team
IV. Review of February financial statements — Andy Reid
V. Director's Report
A. Federal grant status (Industrial Park): $238,955 remaining — still waiting...
B. Marketing Plan Update
C. Depot / Farmer's Market Update
D. Business Recruitment
■ Company "X"
■ Company "Y"
E. Minnesota Angel Network Update
VI. Discussion of EDA Goals
A. Review goals, consider approval / adoption
B. Set up sub - committee to evaluate spec building / incubator goal?
VII. Request by Cornerstone Commons for interest rate reduction & reset of term
(CC is requesting a reduction of their interest rate to 2.25% and a reset of the loan term to 15 years so as to reduce
their monthly payment. Finance team discussed and is recommending approval.)
VIII. Grant & Loan Applications
Storefront Revitalization Matching Grant Program
Wendling Insurance — Jim Wendling $1,488
40 Main Street North
Sign & Awning Grant Program
Krazy Ivans (restaurant to open in April) — Craig Hagen $2,000
101 Park Place
IX. Other business
X. Chamber update
XI. Set next meeting — March 28th
XII. Adjourn