06-28-2013 EDAMEDA Board Meeting
Main Conference Room — City Center
11:30 AM Friday, June 28th, 2013
Members present in bold.
MEETING MINUTES
Members
Tim Ulrich Steve Jansick
Mary Christensen Mike McGraw
Staff
Lee Miller, EDA Director
Nate Keller, EDA Assistant
Andy Reid, City Controller
Daron Vanderheiden
Jonny Block
Liaison
Mary Hodson, Chamber President
Chad Czmowski
Call to order -EDA President Tim Ulrich called the meeting to order at 11:34 AM
Approve Agenda — No Action
III. Review Meeting Minutes
A. May 29th Board of Directors
M/S/P: Czmowski, Block to approve the minutes as written; passed unanimously.
B. May 22nd Finance Team
M/S/P: Jansick, Christensen to approve the minutes as written; passed unanimously.
IV. Review of May financial statements — Andy Reid
A. Cash available in operations is $117,972.
B. $56,736 is reserved (proceeds from Warrior land sale) and $56,766 is unreserved.
C. The Economic Development Loan fund has $1,185,887 in cash available.
D. $100,000 is reserved (Luce Line Trail contribution) and $125,000 for Depot/ farmers
market costs. $960,887 is unreserved.
E. Loan payments for the month were $9,233.
F. Downtown revolving loan fund has $203,758 in cash available; $182,758 is unreserved,
loans totaling $761,716 and $201,329 in capital assets (Cenex & Wright property).
G. Loan repayments totaled $11,108 for the month.
H. MIF Loan fund has $204,361 in cash available and loans receivable of $326,896
(NuCrane).
I. Loan payments for the month were $5,640.
M/S/P: Czmowski, Vanderheiden to approve the financials as presented; passed
unanimously.
V. Director's Report
A. Depot Marketplace Redevelopment — Soil remediation was completed last week.
Foundation of the Depot should be done next week.
B. NuCrane MIF Grant De -federalization- State still reviewing LDO criteria with HUD.
C. Website/Marketing: Staff gave an overview of the EDA's online capabilities and
expressed a desire to revamp the EDA's web presence by utilizing search engine
optimization techniques. Staff to investigate the cost and benefit of contracting with a
third party to perform this work.
D. JUMPSTART DOWNTOWN Update: 2�d place Winner MeshedDesigns is scheduled to
open in Mid -July. 1St place Winner Elena Volkov is scheduled to open in September.
M/S/P: Christiansen, Czmowski to approve on award up to $2,000 to MeshedDesigns for
signage; passed unanimously.
M/S/P: Jansick, Block to approve a $3000 donation to the Small Business Development
Center for business consulting services for the Jump Start Downtown winner; passed
unanimously
VI. Grant and Loan Applications
Sign and Awning Grant Program $1,510.39
Gislason & Hunter
16 Washington Ave W
M/S/P: Block to approve grant request, failed due to no second.
M/S/P: Jansick to decline request, failed due to no second.
Board decided to table grant request until next month.
Sign and Awning Grant Program $2,000
Tammy Lauer
28 and 30 Main St N
M/S/P: Czmowski, Block, to approve grant request; passed unanimously.
VII. Loan/Grant Application Eligibility Criteria -Discussion of current processes and criteria with
regard to the EDA's loan and grant programs. Staff to bring recommendations of changes to
the Board at July meeting. Further discussion regarding possibly expanding the downtown
district boundaries or creating new program for businesses located adjacent to the existing
boundaries.
VIII. Chamber Update — Chambers website is complete and up and running.
IX. Other Business- none.
X. Set Next meeting — July 24th, 2013 11:30 AM
XI. Adjourn- 12:41 PM
Respectfully Submitted,
Nate Keller
EDA Intern