04-02-2015 EDAMEDA Board Meeting
Main Conference Room — City Center
8:15 AM, Thursday, April 2nd, 2015
Members present in bold.
MEETING MINUTES
Members
Steve Jansick Daron Vanderheiden Chad Czmowski Corey Stearns
Mary Christensen Mike McGraw Jonny Block
Staff
Miles Seppelt, EDA Director
Call to order
EDA President Steve Jansick called the meeting to order at 8:15 AM
II. Approve Agenda — No Action
III. Grant & Loan Applications
Downtown Commercial Rehabilitation Loan Program
LA Meyer Properties — 2 Main Street North $13,356
10 year, 3.25%
Staff provided background on the project and loan request, noting that — per rule — the applicant was only eligible for
the difference between the maximum loan amount and the amount due on existing loans with the EDA. As of today,
that amount would be $11,495, but it could increase a bit if the applicant makes payments on their existing loan
before this one closes.
M/S/P: Block, Vanderheiden to approve the loan up to the maximum allowed by the
program. Passed unanimously.
IV. Other Business — None
V. Adjourn
With no further business to attend to, the meeting was adjourned at 8:20 AM.
Respectfully Submitted,
Miles R. Seppelt
EDA Director