07-01-2011 EDAMEDA Board Meeting
Main Conference Room — City Center
11:30 AM Friday, July 1St, 2011 (June meeting)
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
Seth Kauffman, EDA Assistant
Andy Reid, City Controller
Liaison
Bill Corby, Chamber President
Call to order
A. EDA President Tim Ulrich called the meeting to order at 11:32 AM
II. Introductions: Andy Reid — Hutchinson City Controller
III. Approve Agenda — No Action
IV. Review meeting minutes:
A. May 25th Board of Directors
M IS /P: McGraw, Christianson to approve the minutes as written. Passed unanimously.
B. May 18th Finance Team
M IS /P: Jansick, Czmowski to approve the Finance Team minutes as written. Passed unanimously.
V. Review March EDA Financial Statements- Andy Reid
■ Cash available in operations is $77,107
■ $56,736 is reserved (proceeds from Warrior land sale) and $17,645 is unreserved.
■ The Economic Development Loan fund has $446,880 in cash available.
■ Total assets in the Economic Development Loan fund are $924,713.
■ Downtown revolving loan fund has $429,636 in cash available, loans totaling $601,890 and
$201,329 in capital assets (Cenex & Wright property)
■ Loan repayments totaled $7,845 for the month.
■ MIF Loan fund has $61,225 in cash available and loans receivable of $456,447 (NuCrane).
M IS /P: Czmowski, McGraw to approve the financial report as presented. Passed unanimously.
VI. Director's Report:
A. County Project — Project waiting for funding, on the slow track.
B. Federal Grant Status (Industrial Park): $238,955 Remaining — Awaiting payment from Federal
Govt.
C. "Shovel Ready" certification for energy park (July 19th site visit & Seminar) - Miles discussed
the current status of the "shovel ready" site. Staff also discussed the site visit & seminar with the
board.
D. Customer Elation Equipment Loan — Staff discussed the expansion of customer elation, their
loan situation and parking.
E. Goebel Lot — Short discussion
VII. Depot Renovation / Farmers Market
A. Miles reviewed the proposed redevelopment plan for the Depot site. Showed pavilion, parking lot,
and gravel driveways for vendors.
B. Preliminary cost estimates were reviewed — still awaiting estimates for the Farmer's Market
pavilion.
C. Miles informed the team on the lease, EPA and other factors involved with the site.
D. Estimated time frame for the project was discussed.
VIII. Grant & Loan Applications — None this month, although several are in the pipeline.
IX. Other Business
A. SWIF is seeking $5,000 of support for their 2012 budget
B. Moventas, a company we were attempting to recruit to Hutchinson a couple of years ago, has filed
for bankruptcy.
X. CHAMBER CVB UPDATE — MARCH 2011
■ 4th Annual Hometown Golf Challenge — Monday July 25th 2011, Crow River Golf Club, 1:00
Shotgun Start.
■ Business after Hours — June 22, Harmony River Living Center, 4:00 — 6:00 pm.
■ Facebook — check us out at Hutchinson Area Chamber CVB
XI. Set Next Meeting — July 27th
XII. Adjourn
With no further business to attend to, the meeting was adjourned at 12:12 PM.
Respectfully Submitted,
Seth Kauffman
EDA Assistant