01-28-2015 EDAAEDA Board Meeting
Main Conference Room — City Center
11:30 AM Wednesday, January 28, 2015
Updated: 28 January 2015
AGENDA
Call to Order
II. Approve Agenda
III. Review Minutes
A. December 17th, 2014 Finance Team Meeting
B. December 18th 2014 EDA Board Meeting
IV. Review December EDA Financial Statements — Andy Reid
V. Director's Report
A. Meetings w/ Board members
B. BR & E Visits
C. Website Update
D. Depot Marketplace Grant Closeout
E. Hwy 22 / 212 Coalition
F. Data Centers (DEED)
BR&E Visits
Crow River Signs
Hillyard
Redline Systems
Warrior Mfg.
Stearnswood
Vivid Image
SEH Inc. (Hutch)
G. Minnesota Trade Office visit (DEED)
H. Guide to Hutchinson Ad
I. Company "X"
J. Company "Y"
VI. 2015 Work Plan & Priorities (minor revisions)
VII. Finance Team Membership
Scott Ziegler / Matt McDougal — should we invite 2-3 times before formally
appointing?
VIII. Former CENEX Fertilizer Lot (3 d Ave. NW)
Two inquiries / Need to consider pricing / possible use of TIF to write-down purchase
price
IX. Update on MIF Funds
X. Local Contribution for HRA CDBG Grant Application $175,000
(DEED is requiring that we utilize a portion of our unused NuCrane MIF dollars for a
local contribution)
XI. Consider addition to Downtown Commercial Rehabilitation Loan Program Rules
Proposed rule addition:
If a Federal Government Lending program is involved with a project, this loan may be
amortized as required by the Federal program at the rate of Prime + 2%, fixed, with a
note maturity of not more than 10 years. Said loans may be refinanced for up to 10
additional years at the then current Prime Rate + 2%, fixed.
[over]
XII. Grant & Loan Applications
Commercial Rehabilitation Loan Program
LTC Properties / Lamplighter — Mark & Heather Landreville $30,000
353 d Avenue SE
Sign & Awning Program
Below Zero Frozen Yogurt — Ashley Docken/David Swift $1,000
45 Washington Ave SE
River of Hope — Laura Aase / Hutchinson Properties $1,000
16 Washington Ave
(tentative — waiting on 2nd bid)
XIII. Other Business
A. ArtPlace Grant Opportunity
B. Potential Revenue (TIF)
C. Downtown Lamplighter Project
XIV. Set Next Meeting — 11:30 AM Wednesday, February 25th, 2015
XV. Adjourn