06-27-2012 EDAMEDA Board Meeting
Main Conference Room — City Center
11:30 AM Wednesday, June 27th, 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
Aaron Othoudt, EDA Assistant
Andy Reid, City Controller
Liaison
Bill Corby, Chamber President
Call to order
EDA President Tim Ulrich called the meeting to order at 11:31 AM
II. Approve Agenda — No Action
III. Review meeting minutes:
May 23`d, 2012 Board of Directors
M /S /P: Czmowski, Christensen to approve the Board minutes as written; passed
unanimously.
May 16th, 2012 Finance Team
M /S /P: Ulrich, McGraw to approve the Finance Team minutes as written; passed
unanimously.
IV. Review May EDA Financial Statements — Andy Reid
■ Cash available in operations is $92,497
■ $56,736 is reserved (proceeds from Warrior land sale) and $32,946 is unreserved.
■ The Economic Development Loan fund has $557,485 in cash available.
■ Loan payments for the month were $9,759.
■ Downtown revolving loan fund has $535,126 in cash available and loans totaling
$748,129.
■ $201,329 is in capital assets (Cenex & Wright property).
■ Loan repayments totaled $8,036 for the month.
■ MIF Loan fund has $135,415 in cash available and loans receivable of $387,386
(NuCrane).
■ Total equity in the fund is $523,135 and loan payments for the month were $11,281.
M /S /P: Retterath, Czmowski to approve the May financials as presented; passed
unanimously.
V. Director's Report
Federal Grant Status (Industrial Park): $238,995 Remaining — Staff informed the EDA
Board that Mohammed Saeed, our EDA project manager, is working on closing out the
industrial park grant.
Marketing Plan Update — Staff updated the EDA Board that the websites are nearly
completed with just a few minor details left to attend to. Staff will keep the Facebook & Twitter
accounts updated to build it up for stronger search results on the internet.
VI. Depot Marketplace Project Update /Discussion — Staff informed the EDA Board that the
Environmental Phase 2 final report is completed. There is a significant amount of
contamination on the site in several spots. Staff also informed the EDA Board that there is a
Response Action Plan that will be the guide on what remedies will need to be done to deal
with the contamination on the site. This report has not been completed as yet. Staff informed
the EDA Board that there is a possibility of getting grant money to help with contamination
clean up.
VII. Downtown Revitalization Master Plan: Phase II — Staff passed out a map showing the
boundaries of the Phase II Downtown Revitalization Master Plan which focuses on main
street downtown, and the river corridor. The City has officially asked the EDA to fund up to
half of the $91,000 cost. Discussion followed.
M /S /P: Czmowski, Vanderheiden to approve funding up to $45,500 out of the cash in the
Downtown Loan Fund; passed unanimously.
VIII. Proposal for "Virtual" Spec Building — Staff informed the EDA Board that the Architecture
& Engineering numbers came in for the Industrial Spec Building. Staff also let the EDA Board
know that they are working on a grant from DEED for $850,000 to help build the spec building
and incorporate a business incubator within the building.
No Motion. The EDA Board expressed agreement with the EDA Finance Team on waiting on
the virtual spec building until staff found out if the grant money is awarded.
IX. Grant & Loan Applications — NONE
X. Other Business — Czmowski brought up the idea of a downtown business plan contest. The EDA
Board talked about different avenues on how to approach this and included coming up with possible
partners. Staff will do some research and report back next meeting.
XI. Chamber/ CVB Update— Bill Corby updated the board on upcoming chamber events:
■ Business After Hours — Wednesday, July 11, 4:00 — 6:00 pm, Crow River Winery.
■ 5th Annual Hometown Golf Challenge - Monday, July 30, CRGC, player registration is now
open. Contact our office or check our web page at www.explorehutchinson.com. Theme this
year is Playin in Plaid.
■ Hutchinson Leadership Institute — Beginning to put together our 2012/2013 dates and
sessions, entering our 24th year.
XII. Set Next Meeting — July 25th
XIII. Adjourn — With no further business to attend to, the meeting was adjourned at 12:28 pm.
Respectfully Submitted,
Aaron Othoudt
EDA Assistant