03-27-2013 EDAMEDA Board Meeting
Members present in bold.
Main Conference Room — City Center
11:30 AM Wednesday, March 27, 2013
MEETING MINUTES
Members
Tim Ulrich Steve Jansick
Mary Christensen Mike McGraw
Staff
Miles Seppelt, EDA Director
Sanskriti Thapa, EDA Assistant
Andy Reid, City Controller
Daron Vanderheiden
Jonny Block
Liaison
Mary Hodson, Chamber President
I. Call to order
EDA President Tim Ulrich called the meeting to order at 11:35 AM
II. Approve Agenda — No Action
Chad Czmowski
III. Review Meeting Minutes
A. February 27th Board of Directors
M/S/P: Czmowski, Block to approve the minutes as written: passed unanimously.
B. February 20th Finance Team
M/S/P: McGraw, Vanderheiden to approve the minutes as written: passed unanimously.
IV. Review of January financial statements — Miles Seppelt
• Cash available in operations is $136,295.
• $56,736 is reserved (proceeds from Warrior land sale) and $74,566 is unreserved.
• The Economic Development Loan fund has $634,450 in cash available.
• $100,000 is reserved (Luce Line Trail contribution) and $125,000 for Depot/ farmers
market costs. $409,450 is unreserved.
• Loan payments for the month were $9,233.
• Downtown revolving loan fund has $182,237 in cash available; $153,820 is unreserved,
loans totaling $788,771 and $201,329 in capital assets (Cenex & Wright property).
• Loan repayments totaled $10,712 for the month.
A. MIF Loan fund has $187,439 in cash available and loans receivable of $342,132
(NuCrane).
• Loan payments for the month were $5,640.
M/S/P: Jansick, Christensen to approve the financials as presented: passed unanimously.
V. Director's Report
A. Depot Marketplace Redevelopment — The engineering department is in the process of
putting together the bid document. The project will be seperate from the Jefferson street
project. The fill to come in by the end of June after the excavation of the contaminated
soil in May which is the first phase of the project. The second phase is site work and
construction. The engineering department is to work with environmental consultants. Staff
working on disconnecting the utilities from the site so that the building can be moved
when the ground is still frozen. The City Council approved the payment on the rail line.
B. NuCrane MIF Grant De -federalization- The staff is waiting for DEED to come up with
new set of rules. DEED is consulting with HUD to make Hutchinson EDA an LDO
C. Incubator Project Update: The staff checked on the grant and there is a window of five
years if the project is put on hold for a while. The general observation of the EDA Board
is to delay the project until the EDA has a full time staff.
D. JUMPSTART DOWNTOWN Update: The official deadline to submit the entry is March
29, 2013.
1. Applications: The staff received two entries thus far. Several potential
entrants are taking classes at the Southwest Initiative Foundation.
2. Review Committee: the staff has put together a list of the members for
Review Committee and contacted them.
E. EDA Director Search Update: 10 applications received so far and three dropped out.
The first round of interviews is done and the second round to be conducted probably
around the first week of April.
VI. Business Incubator Discussion: The staff checked on the grant and there is a window of
five years to use the grant. The general observation of the EDA Board is to delay the project
until the EDA has a full time staff. In addition it was thought prudent to complete the MIF de -
federalization process, as those dollars are earmarked for the incubator project.
VII. Consideration of appointment of Corey Stearns to the Finance Team: the staff talked to
him and he is very interested. The EDA Board thinks that it would be nice to have a
manufacturer in the team and know his opinion.
M/S/P: Block, McGraw to appoint Corey Stearns to the Finance Team. Passed unanimously.
VIII. Grant and Loan Applications
Sign & Awning Grant Program
Benny's Meat Market (formerly Lang's)
221 South Main Street
$2,000
M/S/P: Jansick, Vanderheiden to approve the grant request. Passed unanimously.
IX. Chamber Update — the chamber is in the process of organizing "Bring it Home Expo" on
April 13th. The expo encourages local businesses by promoting local spending. A total of 90
businesses are participating so far. The deadline to sponsor or take part in the program is
March 28tH
X. Other Business- NONE
XI. Set Next meeting —April 24th, 2013
XII. Adjourn- 12:20 PM
Respectfully Submitted,
Sanskriti Thapa
EDA Intern