11-25-2015 EDAMEDA Board Meeting
Main Conference Room — City Center
11:30 AM Wednesday, November 25th, 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
I. Call to Order - Jansick called the meeting to order at 11:34 AM.
II. Approve Agenda
III. Review Minutes of October 29th EDA Board Meeting
M/S/P: Czmowski, Christensen to approve the October EDA Board meeting minutes; passed
unanimously.
IV. Review October EDA Financial Statements — Andy Reid
• Cash available in operations is $122,233.
• $56,736 is reserved (proceeds from Warrior land sale) and $64,079 is unreserved. Notable
transaction: $1,428 in Conference and Travel expense for both staff to attend conferences in
September.
• The Economic Development Loan fund has $424,137 in cash available, of which $157 was interest
income in October.
• Downtown revolving loan fund has $173,549 in cash available; loans receivable total $765,301
and $201,329 in capital assets (Cenex & Wright properties).
• Loan repayments yielded $1,598 in interest income for the month.
• MIF Loan fund has $899,576 in cash available and loans receivable of $175,623 from NuCrane).
The fund realized $302 in loan interest for October. Notable Transaction: $20,000 for Jumpstart
Manufacturing was distributed in October.
• Tax Increment Financing Fund has $356,116 in cash available and $2,438 in accounts payable.
Professional services for the month of $9,280.
M/S/P: Vanderheiden, Stearns to approve the October financials as presented; passed unanimously.
V. Director's Report
A. Marketing Plan Report: Website updates = 3, Facebook updates = 15, Twitter activity = 11. Staff
brought the Site Selector magazine for the Teams perusal of the EDA ad.
B. Business recruitment / expansions: Staff updated the Team on recent prospects and ongoing
conversations.
C. Mr. Page informed the Team of his intention to end his employment with Hutchinson at the end of
2015 in order to return to St. Cloud State University on a FT basis and complete his degree as
quickly as possible. The Director updated the Team on his efforts to secure an intern from
regional universities.
D. Staff and the Board discussed possible dates for the rescheduled Manufacturers' Summit in
February.
E. EDA Commissioner Terms. Mr. Jansick's term is up and is not going to continue on the Board.
Mr. Vanderheiden`s term is up but he is interested in continuing. The Board and staff casually
discussed candidates for the open Board seats. Board officer elections will occur in January.
VI. Workforce Development: Hutchinson High School CTE Center $300,000
A. The Finance Team recommendation of support for the CTE equipment project as presented.
B. The Board and Staff discussed private -industry fundraising efforts.
M/S/P: Czmowski, Stearns to approve up to $300,000 in matching funds toward the acquisition of
equipment for the CTE Center; passed unanimously.
VII. Downtown Redevelopment Project (old medical clinic)
Staff updated the Board on the progress of negotiations toward the redevelopment of the old medical
clinic site.
M/S/P: Czmowski, Christensen to offer the realtor $225,500 for the purchase of the old medical clinic
site; passed unanimously.
VIII. Review of Industry Revolving Loan Fund Program(s), adopt proposed revisions
Staff returned to the Board with the committee's supporting statements for their recommendations for
the Industry Revolving Loan Fund Programs.
M/S/P: Christensen, Vanderheiden to adopt program revisions as presented; passed unanimously.
IX. Hutchinson Enterprise Center: Staff reviewed key elements for the Hutchinson Enterprise Center
(H.E.C.) building and an overview of the premise, particularly the scale of staff engagement with
businesses and program funding. Staff asked Board members to consider participating in a work
group to further develop the H.E.C. plan.
X. 2016 Goals and Objectives — will be discussed at the December meeting.
XI. Grant & Loan Program Applications - None
XII. Other Business:
A. Brief discussion to identify those community members and organizations most likely to be of
assistance to the establishment of a children's museum in Hutchinson.
B. Request for Cornerstone Commons Loan Forgiveness.
M/S/P: Czmowski, Stearns to deny the request for forgiveness of their commercial rehab loan; passed
unanimously.
XIII. Set Next Meeting — 11:30 AM Thursday, November 25th, 2015.
XIV. Adjourn - With no further business to attend to, the meeting was adjourned at 1:07 PM.
Respectfully Submitted,
Jeffrey Page
EDA Program Assistant