EDA - Regular Meeting

City of Hinckley EDA - Regular Meeting Minutes Tuesday, November 12, 2024 at 12:00 PM Council Chambers (Community Room) 106 First Street SE, P. O. Box 366 | Tel: (320) 384.7491 | Fax: (320) 384.7492 | ww.hinckleymn.gov 1. Call to Order Pursuant to due call and notice, the special meeting of the Hinckley Economic Development Authority was called to order by EDA President Dave Ubl on Tuesday, November 12, 2024, at 12:03 p.m. Members present: EDA President Dave Ubl, EDA Commission Members: Reid Davis, Tim Burkhardt, Don Zeman, and Pine County EDA Coordinator Lezlie Sauter. Members absent: Wayne Cessna. Also present are City Administrator Leaha Jackson and Planning and Zoning Administrator Mark Perry. 2. Approve Agenda Motion made by Davis, Seconded by Burkhardt, to approve the agenda as presented. Voting Yea: President Ubl, Davis, Zeman, Burkhardt. Motion carried 4-0. 3. Minutes A. September 10, 2024 - Regular Meeting Minutes Motion made by Zeman, Seconded by Davis, to approve the September 10, 2024 Minutes. Voting Yea: President Ubl, Davis, Zeman, Burkhardt. Motion carried 4-0. 4. EDA Payables/Financials A. September 2024 Financials & Payables B. October 2024 Financials & Payables ($0.00) Board Member Reid asked if the questions from September's meeting were answered. Jackson responded that they were and the insurance expenses were credited back to the EDA. Motion made by Burkhardt, Seconded by Zeman, to approve the September and October 2024 finacials and payables. Voting Yea: President Ubl, Davis, Zeman, Burkhardt. Motion carried 4-0. 5. New Business A. Investments The EDA investment of $25,000 at 5.05% was called. The EDA should consider reinvesting the money until needed. RBC has some investments, but the rates are lower than Northview's one-year CD at 4.00%. RBC would only have one year of call protection. Jackson recommended going with Northview and re-evaluating the offerings at that time. Motion made by Davis, Seconded by Zeman, to purchase one $25,000 one year CD at 4.00%. Voting Yea: President Ubl, Davis, Zeman, Burkhardt. Motion carried 4-0.  B. Business Owners Questionnaire Sample questions were included in the packet. Jackson asked if there were any questions the Board thought we might have missed or should be changed. Sauter responded that she would add checkboxes with top choices and not just open-ended questions; she appreciates them when completing questionnaires. Ubl thought it might be a good idea to ask some businesses what needs they might have. Jackson agrees that this would be a good addition. Sauter also offered to help with an electronic version of the questionnaire. C. Pine County EDA SHRPA Request The Pine County HRA/EDA has asked Hinckley, Pine City, and Sandstone to participate in a SHRPA content creation project to help market our County. With this, the communities would have access to the pictures and write-up provided as the creator visits our area's attractions. Sauter also noted that besides the blogs, the creators provide Google reviews of the places they visit, creating another form of support for our local businesses. Jackson thought the pictures would be a good addition to the City’s EDA website. Motion made by Zeman, Seconded by President Ubl, to approve EDA support for the Pine County HRA/EDA SHRPA request of $500. Voting Yea: President Ubl, Davis, Zeman, Burkhardt. Motion carried 4-0. 6. Old Business A. Small Cities Development Program The grant period for the 2020 SCDP ended September 30, 2024. Lakes & Pines has submitted the final report to the Minnesota Department of Employment and Economic Development (MNDEED). MNDEED will recapture unspent funds of $149,749.15 from the original grant amount of $437,000 of SCDP funds. This application included rental rehab and commercial. Jackson would like to consider single-family and possibly rental rehab for the next application once it opens. She also noted that the City may have a note on its record for some reporting issues and may think about using a different provider or servicing it in-house next time. She will report back with when the next cycle for applilcations will be. B. Small Business Partnership Revolving Loan Fund Program Ad Now that the City Council has approved the Small Business Partnership, Jackson would like the EDA to consider publishing the included press release in the local paper. She has also created an EDA page on the City’s website and is working on adding available business resources to it. Sauter said she can help promote this on the County’s EDA pages. Motion made by Burkhardt, Seconded by President Ubl, to have the press release printed in the North Pine County News. Voting Yea: President Ubl, Davis, Zeman, Burkhardt. Motion carried 4-0. C. Family Dollar Property Update Jackson briefly updated the Family-Dollar property and the housing developer Commonwealth Real Estate Acquisitions, LLC (Commonwealth). The City is in preliminary talks with Commonwealth. The proposal will likely contain some form of TIF and/or land grant. Members had some questions on TIF, including how long it might be for and how much. Sauter provided that the amount would be identified by a proforma and the City’s financial advisor. Jackson responded that the time was either 20 or 25 years. Perry added that it would be on the property's value change from now to once improved. Ubl asked if anyone knew much about the for-sale sign on the Family Dollar building. Jackson noted we noticed it went up last week.  The owner responded to the vacant building survey that they are interested in leasing or selling the property and has contact information for the owner if anyone is interested. 7. Open Forum 8. Miscellaneous 9. Adjournment Motion made by Zeman, Seconded by Davis, to adjourn the meeting at 12:35 p.m. Voting Yea: President Ubl, Davis, Zeman, Burkhardt. Motion carried 4-0. Attest: _____________________________________ David Ubl, President ___________________________________ Secretary Leaha M. Jackson