01-26-2011 EDAMEDA Board Meeting
Main Conference Room — City Center
11:30 AM Wednesday, January 26, 2011
Members present in bold.
MEETING MINUTES
Members
Tim Ulrich Steve Jansick Mike Retterath Daron Vanderheiden
Chad Czmowski Mary Christianson Mike McGraw
Staff
Miles Seppelt, EDA Director
Colin Heintzeman, EDA Assistant
Dave Blumberg, Assistant Finance Director
Liaison
Bill Corby, Chamber President
I. Call to order
EDA President Tim Ulrich called the meeting to order at 11:35 AM
II. Approve Agenda — No Action
III. Review meeting minutes:
A. December 22nd Board of Directors
M /S /P: Czmowski, Retterath to approve the minutes as written. Passed unanimously.
B. December 15th Finance Team
M /S /P: McGraw, Vanderheiden to approve the December Finance Team minutes as
written. Passed unanimously.
IV. Review December EDA Financial Statements — Asst. Finance Director, Dave Blumberg:
• Loan Program Updates (Bavarian Haus / Ashwill)
• A new section was added to the "Operations" page of the EDA financials to track
expenses related to special projects authorized by the EDA Board.
M /S /P: McGraw, Vanderheiden to approve the financial report as presented. Passed
unanimously.
V. Director's Report:
A. County Project — project in holding pattern pending additional equity investment.
B. Federal grant status (Industrial Park): $238,955 remaining — Have received $711,045
C. "Shovel- Ready" certification for Energy Park: Essentially ready to go — waiting for
state to get new website running.
D. New DEED Commissioner — Mark Phillips
E. Warrior Mfg. Land Sale / Purchase — closing scheduled for February 15th
F. SBDC Project / CDBG Grant
G. Performance Review
VI. Elect EDA Officers for 2011
M /S /P: Retterath, Vanderheiden to re -elect the current slate of EDA officers. Passed
unanimously.
VII. Warrior Mfg. Land Sale / Purchase: Staff updated the Board on the status of the two land
transactions. Closing scheduled for February 15tH
VIII. Review of 2010 Annual Report (draft)
■ Staff reviewed the 2010 EDA annual report.
■ The report will be posted to the EDA website once it's been presented to the City Council.
IX. Review / update of Economic Development Loan Fund rules:
Application wording was updated, specifically the Business Financial Statement requirement
section. Staff will present the final draft to the Finance Team for approval next month and will
bring it back to the EDA board.
X. Use of de- Federalized MIF dollars:
(Contingent upon securing additional outside funding, would the EDA be open to using some of the de-
federalized MIF dollars for a business incubator / spec - building project?)
• Discussion was held on the idea of using de- federalized dollars for a small business
incubator/ industrial "spec" building.
• If those dollars can be leveraged to attract other grant dollars then it might be a good use of
the resource.
• The EDA needs to be careful that it is not competing against the private sector in offering
building space.
• Key to the project was to be able to attract enough dollars so that the building could be
mortgage free from day one.
• Overall the Board of Directors was supportive of the idea. Staff will continue the process of
identifying potential sources of grant dollars for the project.
XI. Grant & Loan Applications:
Sign and Awning Grant:
Stacey Lux (Lillians)- 149 Main St. S. (Quast Bldg.)
$2,000
M /S /P: McGraw, Retterath to approve the Sign & Awning Grant application as presented.
Passed unanimously.
XII. Other Business — None.
XIII. Chamber CVB Update
Current
A.
President
Tim Ulrich
B.
Vice - president
Mike McGraw
C.
Treasurer
Steve Jansick
D.
Secretary*
EDA Intern
E.
Assistant Treasurer*
Jeremy Carter
* Can be non EDA Board members
M /S /P: Retterath, Vanderheiden to re -elect the current slate of EDA officers. Passed
unanimously.
VII. Warrior Mfg. Land Sale / Purchase: Staff updated the Board on the status of the two land
transactions. Closing scheduled for February 15tH
VIII. Review of 2010 Annual Report (draft)
■ Staff reviewed the 2010 EDA annual report.
■ The report will be posted to the EDA website once it's been presented to the City Council.
IX. Review / update of Economic Development Loan Fund rules:
Application wording was updated, specifically the Business Financial Statement requirement
section. Staff will present the final draft to the Finance Team for approval next month and will
bring it back to the EDA board.
X. Use of de- Federalized MIF dollars:
(Contingent upon securing additional outside funding, would the EDA be open to using some of the de-
federalized MIF dollars for a business incubator / spec - building project?)
• Discussion was held on the idea of using de- federalized dollars for a small business
incubator/ industrial "spec" building.
• If those dollars can be leveraged to attract other grant dollars then it might be a good use of
the resource.
• The EDA needs to be careful that it is not competing against the private sector in offering
building space.
• Key to the project was to be able to attract enough dollars so that the building could be
mortgage free from day one.
• Overall the Board of Directors was supportive of the idea. Staff will continue the process of
identifying potential sources of grant dollars for the project.
XI. Grant & Loan Applications:
Sign and Awning Grant:
Stacey Lux (Lillians)- 149 Main St. S. (Quast Bldg.)
$2,000
M /S /P: McGraw, Retterath to approve the Sign & Awning Grant application as presented.
Passed unanimously.
XII. Other Business — None.
XIII. Chamber CVB Update
• New Employee — Brae Olson
• Social Media — Twitter and Facebook
• Annual Banquet — Friday, January 28 — Nautical Theme, Hypnotist Jay Brian.
• Awards Being Presented
• Volunteer of the Year — Jan Johnson
• Outstanding Young Leader — Karen Grasmon
• Business Person of the Year — Tiffany Haag, Blake Barnard
• Ag Service Award — Dennis Bergquist
Jaycees to award:
• Educator of the Year
• Boss of the Year
• Distinguished Service
XIV. Set Next Meeting — February 23rd
XV. Adjourn
Mr. Ulrich adjourned the meeting at 12:42 PM
Respectfully Submitted,
Colin Heintzeman
EDA Assistant