EDA - Special Meeting

City of Hinckley EDA - Special Meeting Minutes Thursday, July 25, 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 Thursday, July 25, 2024, at 12:04 p.m. Members present: EDA President Dave Ubl, EDA Commission Members: Reid Davis, Don Zeman, and Tim Burkhardt. Members absent: Wayne Cessna and Pine County EDA Coordinator Lezlie Sauter. Also present are City Administrator Leaha Jackson, Planning and Zoning Administrator Mark Perry, and resident Desirae Kirchmeier. 2. Approve Agenda Motion made by Burkhardt, Seconded by Zeman, to approve the agenda. Voting Yea: President Ubl, Davis, Zeman, Burkhardt. Motion carried 4-0. 3. Minutes Motion made by Zeman, Seconded by Davis, to approve the May 14, 2024 minutes. Voting Yea: President Ubl, Davis, Zeman, Burkhardt. Motion carried 4-0. A. May 14, 2024 - Regular Meeting 4. EDA Payables/Financials Staff presented the payables and financials from May and June 2024. Motion made by Zeman, Seconded by Davis to approve the May and June 2024 payables and financials. Voting Yea: President Ubl, Davis, Zeman, Burkhardt. Motion carried 4-0. A. May Payables- $42.70 B. June Payables- $0.00 5. New Business A. Signs President Ubl proposed replacing the current City of Hinckley directional sign at Fire Monument Rd and Old Hwy 61 meet. He was thinking of a large billboard with places listed and directional arrows to direct traffic. He believes now is the time to do this as all the traffic is routed onto Hwy 61 with the Interstate 35 construction. Jackson agreed that the current sign is not functional and could be updated. She explained how this would tie into wayfinding, and each sign or piece would be designed and sized appropriately for the type of traffic it would be targeting. Member Davis said that he was more in favor of a billboard vs the wayfinding style of sign. Jackson also noted that the City does not own the parcel the sign sits  on. She is working with the County to identify the owner. This is needed to ensure that any resources the City or its entities expend are adequately secured. Perry noted that the sign ordinance does not address signs in the ROW. Billboards are usually on private property and require a C.U.P. Jackson will contact some vendors for preliminary costs and possible design ideas. 6. Old Business A. Revolving Loan Fund Jackson had previously presented members with information on the City and other communities' Business Subsidy Policy and Revolving Loan Fund. Some comments included updating the Revolving Loan Fund application, removing unnecessary items, fixing errors, and including a page like Sandstone's Community Business Partnership Loan Program. Jackson noted that MN State Statutes lay out how funds may be spent for business subsidies, and both the City of Hinckley Business Subsidy Policy and Revolving Loan Fund must conform to these. Also, generally, revolving loan funds provide gap funding for a project and are not intended to be the sole source of financing, with that gap being around 20% for many communities. Mark Perry mentioned that there might not be actual bank funding for some smaller projects and that the match might be just owner capital. The EDA could do a different percentage for those smaller projects. After discussion, the board settled on a 50% match for projects costing $10,000 and under. For those projects with a total cost of more than $10,000, there would need to be other financing secured and would be eligible for up to $20,000 total at no more than 20% of the total project costs. Jackson will put together some draft language and bring it back to the board. B. Streetlights At the May meeting, the board asked staff to determine the cost of adding more streetlights. MN Power provided that a 54W streetlight would cost $14.95/month + tax and a $1,000 installation charge for poles without a transformer or secondary wire. Zeman was concerned with the costs and what this would do to the City's budget. Burkhardt noted that the new LED lights are brighter, but the light does not travel as far as the old ones. Jackson agreed that LED project less than incandescent. Zeman suggested trimming some trees first to see if that would help before adding lights. Jackson will contact the County to request some trimming to allow the light to travel further. C. US DOT Thriving Communities Update The packet included an update and a portion of the City's LOI for the DOT Thriving Communities Program. Jackson shared some ideas that she believes the program could help with, including wayfinding, upgrades to the walking trail from the west side of town, and updates on Main Street to make it more accessible. She welcomed the members to share any ideas they thought could benefit from the program. D. 106 Poplar Ln S Update Perry provided an update on 106 Poplar Ln S. There is a potential buyer, and we are working on a draft agreement to suspend the demolition. 7. Open Forum Desirae Kirchmeier would like to present some ideas she has developed for marketing our area at the next meeting. Jackson will add her to the agenda for the next meeting. 8. Miscellaneous The August regular meeting date lands on an election day and needs to be rescheduled. The board moved the meeting to August 20, 2024, at Noon. 9. Adjournment Motion made by President Ubl, Seconded by Davis, to adjourn the meeting at 1:07 p.m. Voting Yea: President Ubl, Davis, Zeman, Burkhardt. Motion carried 4-0.