09-23-2015 EDAMEDA Board Meeting
McLeod County Solid Waste
Conference Room
11:30 AM Wednesday, September 23rd, 2015
Members present in bold.
MEETING MINUTES
Members
Steve Jansick Corey Stearns Daron Vanderheiden Chad Czmowski
Mary Christensen Mike McGraw Jonny Block
Staff
Miles Seppelt, EDA Director
Andy Reid, City Controller
Jeffrey Page, EDA Assistant
Matt Jaunich, City Administrator
IV
Call to Order - Jansick called the meeting to order at 11:34 AM.
Approve Agenda
Review Minutes of August 19th, 2015 Finance Team Meeting
M/S/P: Stearns, Jansick to approve the August Finance Team meeting minutes; passed unanimously
Review Minutes of August 26th EDA Board Meeting
M/S/P: McGraw, Block to approve the August EDA Board meeting minutes; passed unanimously.
Review August EDA Financial Statements — Andy Reid
• Cash available in operations is $150,484.
• $56,736 is reserved (proceeds from Warrior land sale) and $93,358 is unreserved.
• The Economic Development Loan fund has $423,572 in cash available, of which $158 was interest
income in August.
• Downtown revolving loan fund has $182,169 in cash available; loans receivable total $783,758 and
$201,329 in capital assets (Cenex & Wright properties).
• Loan repayments yielded $1,384 in interest income for the month.
• MIF Loan fund has $908,295 in cash available and loans receivable of $186,292. ($191,613
NuCrane). Customer Elation has paid off their loan, and while the loan was at 0%, the cash assets
earned $3,132 in interest.
M/S/P: Block, Vanderheiden to approve the August financials as presented; passed unanimously.
V. Director's Report
A. BR & E Visits: None
B. Marketing: Website updates = 4, Facebook updates = 19, Tweets = 14
C. JumpStart Manufacturing Update: Staff visited the contest winner and updated the Board on
discussions with the owner.
D. Downtown redevelopment project: Staff updated the Board on current progress.
E. TIF Modification: Completed and approved by the Council.
F. Manufacturing Supply Chain Workshop: Staff informed the Board of the half-day forum being held
at Ridgewater on October 22nd and about staff's involvement in facilitating and organizing the
event.
G. Rescheduling Manufacturers' Resource Summit: Due to conflicts, the Summit is being
rescheduled for an undetermined date in February.
H. Task Force to review EDA Industrial Loan programs: Staff will contact Board and Finance Team
members to assemble a working group to review the programs and make advisements next
month.
I. Business Expansion/Recruitment: The Director updated the Board on Business recruitment
efforts and potential business expansion projects.
VI. Workforce Development: Hutchinson High School CTE Center $300,000
A. Staff updated the Board on the Finance Team's recommendation of support for the significant
contribution to the CTE equipment project.
B. Staff reviewed a couple items of the comprehensive plan to develop workforce from the current
student population.
C. The strategy presented included a $100,000 contribution from the school district, $300,000 from
the EDA, and $200,000 in local contributions; those local contributions could be made over the
course of three years.
M/S/P: Block, Christensen to table formal action on the approval of funding contribution to the
Hutchinson High School CTE equipment project; passed unanimously.
VII. EDA Contribution to Signage & Wayfinding Project: $30,000
A. Staff informed the Board of the Finance Team recommendation to contribute to the level as
presented by Staff.
M/S/P: McGraw, Block to contribute up to $30,000 toward the initiation phase of the Downtown
Wayfinding and Signage Project; passed unanimously.
VIII. Grant and Loan Applications: None
VII. Other Business:
A. Industry Tours: Staff discussed with the Board the possibilities of touring Warrior and both
touring and holding a meeting at Customer Elation.
B. Empty downtown storefronts. Staff will continue to engage with commercial lenders and
property owners on what they see as strategies to overcome the barriers to populate the
downtown commercial properties.
VIII. Set Next Meeting — 11:30 AM Thursday, October 29th, 2015.
IX. Adjourn - With no further business to attend to, the meeting was adjourned at 12:36 PM and was
followed with a tour of the McLeod County Solid Waste facility.
Respectfully Submitted,
Jeffrey Page
EDA Program Assistant