04-25-2012 EDAMEDA Board Meeting
Main Conference Room — City Center
11:30 AM Wednesday, April 25th, 2012
Members present in bold.
MEETING MINUTES
Members
Tim Ulrich Steve Jansick Mike Retterath Daron Vanderheiden
Chad Czmowski Mary Christensen Mike McGraw
Staff
Miles Seppelt, EDA Director
Joe Lang, EDA Assistant
Andy Reid, City Controller
Liaison
Bill Corby, Chamber President
I. Call to order
EDA President Tim Ulrich called the meeting to order at 11:33 AM
II. Approve Agenda — No Action
III. Review meeting minutes:
March 28th, 2012 Board of Directors
M /S /P: Czmowski, McGraw to approve the Board minutes as written; passed unanimously.
March 21St, 2012 Finance Team
M /S /P: Ulrich, Czmowski to approve the Finance Team minutes as written; passed
unanimously.
IV. Review March EDA Financial Statements — Andy Reid
• Cash available in operations is $106,229
• $56,736 is reserved (proceeds from Warrior land sale) and $49,818 is unreserved.
• The Economic Development Loan fund has $537,967 in cash available.
• Loan payments for the month were $9,759
• Total assets in the Economic Development Loan fund are $923,723
• Downtown revolving loan fund has $526,757 in cash available, loans totaling
$762,785 and $201,329 in capital assets (Cenex & Wright property).
• Loan repayments totaled $8,042 for the month.
• MIF Loan fund has $124,134 in cash available and loans receivable of $397,350
(NuCrane).
• A total of $5,640 in MIF loan repayments came in during the month.
M /S /P: Jansick, Christenson to approve the March financials as presented; passed
unanimously.
V. Director's Report
Federal Grant Status (Industrial Park): $238,995 Remaining — Staff informed the board
that additional documentation was sent out and will call Chicago early next week to follow up.
Business Recruitment
Company "X" — challenge is lack of broadband internet.
Company "Y" — no deal with HTI, staff will contact business owner to get an update.
Minnesota Angel Network Update — Staff updated the board on how MNAN is ramping up:
■ 12 companies have been certified as being ready to present to investors
■ 4 companies have received investor commitments for full funding
■ 2 companies have commitments for partial funding
■ 7 companies are currently working towards certification
■ 11 investor events have been held in the Twin Cities & Greater Minnesota featuring
certified companies
■ 102 registered investors, including 76 individuals and 26 representing angel funds or
networks
■ 1,000 -plus investors are tracking the network's events & news
■ 1,200 -plus hours of pro -bono services have been provided to companies by advisors
& partners.
VI. Depot Marketplace Project Update /Discussion — Staff presented the board two handouts,
one was a timeline of projected events and the other was a site plan. In addition the staff
informed the board that the Quonset will be removed shortly, the environmental Phase II has
begun, and the process of getting bids for the various aspects of the work is near.
Discussion followed. The Board suggested informing the farmer's market vendors that the
newly developed depot site might take as long as early August to finish.
VII. Future Industrial Park Development — Phasing Plan: Discussion of future industrial park
phasing. (see ATTACHED proposal). The board felt the plan as presented was logical and
were in agreement with the plan.
Viii. Update /Privatize Existing EDA Webpage: $4,600 + $60/ mo website hosting — Staff
updated the Board on the current status of the EDA webpage and highlighted several key
points:
■ Update will bring our existing site into conformance with the marketing campaign website.
■ Also allows staff to make updates from their own desktop.
■ The City is evaluating phasing out of the website business, so we will need to privatize our
internet presence. (Vivid Image)
■ Proposed funding: Operating budget (currently projecting a $8,500 balance at year -end)
■ Finance team is recommending approval.
Discussion followed.
M /S /P: Jansick, Retterath to recommend approval of privatizing of the existing EDA
webpage as proposed; passed unanimously.
IX. Grant & Loan Applications
Sign & Awning Grant Program
Hutchinson Family Dental — David Mach $1,998.14
36 Washington Ave. W
M /S /P: McGraw, Christensen to approve the grant request; passed unanimously.
Main Street Sports Bar — Joe Mayland $1,987.59
16 & 18 Main St.
M /S /P: Retterath, McGraw to approve the grant request; passed unanimously.
Storefront Revitalization Matching Grant Program (two separate lots / buildings)
Main Street Sports Bar — Joe Mayland
16 Main St
$5,000
Main Street Sports Bar — Joe Mayland $5,000
18 Main St
M /S /P: Jansick, Czmowski to approve both grant requests; passed unanimously.
X. Other Business —
Miles informed the Board of his BR & E visit at Nordic Components. Business is strong, employment =
40; they currently occupy 15,000 sf and will be needed room to expand.
Chad updated the Board on a proposed "Phase II" of the Downtown Revitalization Master Plan.
XI. Chamber / CVB Update — Tim Ulrich updated the board on upcoming chamber events.
Business After Hours — Thursday, May 10, 4:00 — 6:00 pm, Squeaky's Grill and Bar.
3rd Annual Bring It Home Family Fun and Business Expo — A very successful expo with 68 exibitors
(all Hutchinson businesses) and over 1000 attendees.
Who Let The Girls Out Getaway— Ladies weekend April 27 — 28, it's not too late to register for your
wives.
5th Annual Hometown Golf Challenge - Monday, July 30, CRGC, many sponsorship opportunities
available. Contact our office. Theme this year is Playin in Plaid.
Music In The Park - Starting June 11 — August 13. Watch for posters and more information coming
soon.
XII. Set Next Meeting — May 23rd
XIII. Adjourn — With no further business to attend to, the meeting was adjourned at 12:31 pm.
Respectfully Submitted,
Joe Lang
EDA Assistant