12-22-2010 EDAMEDA Board Meeting
Main Conference Room — City Center
11:30 AM Wednesday, December 22, 2010
Members present in bold.
MEETING MINUTES
Members
Tim Ulrich Steve Jansick Mike Retterath Daron Vanderheiden
Chad Czmowski Jim Haugen Mike McGraw
Staff
Miles Seppelt, EDA Director
Eric Browne, EDA Assistant
Colin Heintzeman, EDA Assistant
Dave Blumberg, Assistant Finance Director
Liaison
Bill Corby, Chamber President
Call to order
EDA President Tim Ulrich called the meeting to order at 11:32 AM
II. Introduction- Colin Heintzeman, new EDA Intern
III. Approve Agenda — No Action
IV. Review meeting minutes
A. November 24th Board of Directors
M /S /P: Czmowski, Retterath to approve the minutes as written. Passed unanimously.
B. November 17th Finance Team
M /S /P: Ulrich, Czmowski to approve Finance Team minutes as written. Passed
unanimously
V. Review November EDA Financial Statements — Asst. Finance Director, Dave Blumberg
■ Cash available in operations is $164,713.
■ $56,736 is reserved (proceeds from Warrior land sale) and $74,849 is unreserved.
■ $5,456 in tax income was received in November for the Homestead Credit.
■ $75,850 in tax revenue was received for operations.
■ The Economic Development Loan fund has $124,711 in cash available.
■ Total assets in the Economic Development Loan fund are $207,722.
■ Downtown revolving loan fund has $377,813 in cash available, loans totaling
$639,907 and $201,329 in capital assets (Cenex & Wright property)
■ Loan repayments totaled $9,344 for the month.
■ MIF Loan fund has $289,386 in cash available and loans receivable of $930,992.
■ A total of $14,193 in MIF loan repayments came in during the month.
M /S /P: Haugen, Vanderheiden to approve the financial report as presented. Passed
unanimously.
VI. Director's Report
A. EDA 2nd half tax revenue received: $75,849.98
B. County Project: Still working on finalizing legal documents.
C. Federal Grant Status (Industrial Park): $166,226 received from the federal EDA grant.
w/ $238,955 remaining. Remainder is expected in the next 2 -3 months.
D. "Shovel Ready" certification for Energy Park: Essentially done, waiting on results
from title search and survey. Expected to be wrapped up in next 3 -4 weeks.
E. Warrior Mfg. Land Sale / Purchase: Waiting on purchase agreement paperwork from
legal department.
F. Stritesky Property: Will have tile work completed in the spring by Holger Olsen and
Son.
G. SBDC Project/ CDBG Grant: In the process of implementing the grant. SBDC
operations will begin in January out at the Ridgewater Business Center. Twelve hours
per week of SBDC counseling will be offered.
EDA Board member compensation for 2010 was distributed.
VII. EDA 2011 Goals- Final Review
Business Retention & Expansion
1) Conduct 15 BR & E visits, as many as possible in conjunction with the Chamber of
Commerce
Downtown
2) Promote new development on former Cenex site
a. Advocate re- construction of Les Kouba Parkway / Lind Street
3) Continue development of Downtown Gateway
4) Continue support of Hutchinson Downtown Association
Industrial Park & Business Recruitment
5) Make bio- science & renewable energy projects a development priority
■ Research & evaluate existing projects in Minnesota
6) Finalize "Shovel Ready" site certification for new industrial park
7) Recruit at least 1 new company for the industrial park
8) Complete contracted McLeod County economic development project
Marketing & Public Relations
9) Make regular updates to EDA website / MN PRO
10) Continue public relations activities
a. Write monthly "Crow River Business" column
b. Speaking engagements to service clubs, etc. — as invited
c. Appear on KDUZ Radio "Community Affairs" program
General
11) Obtain $100,000 in grants (various uses)
12) Pursue development of a McLeod County EDA
13) Do everything feasible to fill vacant "big box" buildings
Additional promotion of the Cenex Property was discussed. Staff will get quotes for having a
sign erected on the property to better highlights its availability.
VIII. Grant & Loan Applications
Sign & Awning Grant
Karen Schmeling (Unity Uniform) — 40 Main Street South $2,000
M /S /P: Retterath, Haugen to approve the Sign & Awning Grant Application as presented.
Passed unanimously.
IX. Other Business — None.
EDA Board members thanked Jim Haugen for his many years of service to the EDA.
Board members wished EDA intern Eric Browne good luck in his future endeavors and
thanked him for his work.
X. Chamber CVB Update - December 2010
• New Employee — Brae Olson has been hired to fill Megan Peterson's position.
• Farewell Party for Megan - Wednesday, December 28, 4 — 6 pm at Zellas
• Award Nominations Being Accepted
• Volunteer of the Year
• Outstanding Young Leader
• Business Person of the Year
• Ag Service Award
• Annual Banquet — Friday, January 28 — Nautical Theme
XI. Set Next Meeting — January 26th
XII. Adjourn
Mr. Ulrich adjourned the meeting at 12:05 PM
Respectfully Submitted,
Colin Heintzeman
EDA Assistant