05-23-2008 EDAMMeeting Minutes
7 AM Friday, May 23rd, 2008
Members present in bold print:
Members
Tim Ulrich Diane Gordon
Casey Stotts Jim Haugen
Staff
Miles Seppelt, EDA Director
Lee Miller, EDA Assistant
Mike Solinger, EDA Assistant
L Call To Order
Steve Jansick Marc Vaillancourt
Mike McGraw
Tim Ulrich called the meeting to order at 7:05 AM.
II. Approve Agenda
No action
III. Review Meeting Minutes
A. April 25`h Board of Director
M/S/P: McGraw, Haugen to approve the minutes as written. Passed
unanimously.
B. April 16`h Finance Team
M/S /P: Haugen, Gordon to approve the Finance Team minutes as written.
Passed unanimously.
IV. Review April Financial Statements — Miles Seppelt
Mr. Seppelt reported the following for the April financial statement:
■ Cash available in operations is $71,249.
■ Total of mortgages held as part of the land write -down program is
$166,399.
■ Reserved land note is at $56,736.
■ Travel school conference expense is 2,591 due the San Antonio
conference. $1500 will be reimbursed because of a grant.
■ $4,769 in taxes has been paid for Wetherall property and assessment.
■ Economic Development loan fund has $95,540 in cash available along
with $25,000 on deposit with MCCF. Notes are performing as required.
■ Downtown loan fund has $428,300 in cash available with mortgages
totaling $642,578. Mortgages are expected to increase.
■ $35,704 in loan repayments has been received thus far this year.
■ The Downtown Grant Program has provided $21,430 for this year.
MIF loan fund has $20,800 in cash available with notes outstanding of $349,842
M/S /P: McGraw, Gordon to approve the financial report as presented. Passed
unanimously.
V. Directors Report
Mr. Seppelt reported the following:
A. Cenex Project
■ Staff reported the project is moving slowly. The Asbestos has been removed and
now staff is waiting for final cleanup before moving forward.
■ Staff is planning on the demolition of the buildings for June, with soil corrections
slated for summer or fall. Related to the soil corrections, staff will work with the
City Engineer to find suitable infill soil to replace the contaminated soil.
B. Customer Elation Call Center
■ The lights are installed and sheet -rock is hung. The parking lot is ready to
be paved.
■ Hopeful to have center operating in July.
■ Project has been delayed because of ordering the wrong backup generator.
C. Business Incubator
■ The incubator project is moving along slowly. Members of the EDA
Incubator exploratory committee have started meeting with members of
the Ridgewater Incubator team to collaborate on different ideas and where
this project is going.
■ The goal is to have 3 businesses operating in the incubator by the end of summer
and 3 agencies by fall.
D. County EDA
■ At the next McLeod for Tomorrow meeting, a panel consisting of EDA
professionals will be on hand to discuss the positives of a County EDA.
■ A formal proposal will take place sometime in June
VI. Development of "Energy Park"
A. Preliminary Plat & Preliminary Engineering
There was discussion of whether to proceed with preliminary plans for
development. Mr. Seppelt provided cost comparisons and projected the cost of
infrastructure. The staff feels the project is on the right track. Phase 1 will start
in spring 2009.
VII. Company Prospect
A company has expressed interest in moving a location to Hutchinson. They
are looking for 5 acres and a 50,000 sq. ft. building. Hutchinson is enticing
for this company because of their relationship with 3M
VIII. Community Venture Network (CVN)
■ There was discussion whether to renew membership with CVN. Mr.
Seppelt felt the quality of CVN has been declining over the past few years.
■ Membership fees have increased from $3,950 to $4,250
IX. Recognition Event
■ Mr. Seppelt spoke with the Chamber of Commerce to discuss how the
Chamber organizes their events.
■ Preliminary plans for the event include: Wednesday June 25a'
- Open house 3pm — 5pm.
- Small reception from 5pm — 6:30pm.
- The reception and open house will take place at the council chambers
and lobby of City Center Building.
- About 100 people will be invited to this event.
- About a 5 minute presentation will take place to present plaques to
honorees.
X. Grant and Loan Applications
None
XI. Other Business
Mr. McGraw reported there is an open house to go over the proposed school bond
on June 91h from 7 — 8:30p.m
XII. Chamber Update
Mr. Corby reported the following:
■ Hwy 7 & 15 road construction information posted on our website. Info is also
given on our phone answering system.
■ Buy Local Program— the Chamber CVB is working on a new initiative to promote
keeping business local.
• A new task force has been formed with 9 members
• May newsletter article
■ We will be hosting the MN Chamber's Regional Policy Session 12:00 — 1:30 on
Wednesday, May 28. This is to get feedback from businesses to help set
the MN Chamber's agenda for the next legislative session.
■ McLeod For Tomorrow elected officials forum May 29
• Funding Education
• County EDA
XIII. Set Next Meeting
The next meeting is set for June 27a' at 7:OOam in the City Center Main
Conference Room
XIV. Adjourn
With no further business to attend to, the meeting adj ourned at 8:31 am
Respectfully Submitted,
Mike Solinger
EDA Deputy