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HomeMy WebLinkAbout02-16-17 MINUTES ECONOMIC DEVELOPMENT AUTHORITY Special Meeting February 16, 2017 1. CALL TO ORDER The meeting was called to order by Chair Larson at 6:30 p.m. Members Present: Larson,Pitcher, Corraro, Jolley, Simmons Members Absent: Cordes,Wilson Also Present: Adam Kienberger, Community Development Director;Robin Hanson, Finance Director Audience: Councilmember Craig 2. PLEDGE OFALLEGIANCE 3. ROLL CALL 4. APPROVE AGENDA MOTION by Corraro, second by Pitcher to approve the Agenda. APIF,MOTION CARRIED. 5. CITIZEN COMMENTS/PRESENTATIONS 6. CONSENT AGENDA MOTION by Jolley, second by Corraro to approve the Consent Agenda as follows: a) Approved Meeting Minutes (January 26, 2017 Regular Meeting) b) Received Monthly Financial Statements APIF,MOTION CARRIED. 7. PUBLIC HEARINGS 8. DISCUSSION ITEMS a) 2017 EDA Organizational Matters The EDA approves the by-laws, elects officers, sets the EDA meeting schedule and acknowledges the official newspaper as part of the yearly organizational matters. Members agreed to have Mayor Larson continue as Chair and Member Jolley as Vice-Chair. Community Development Director Kienberger will continue as Secretary and Treasurer. MOTION by Corraro, second by Simmons to appoint Mayor Larson as Chair and Member Jolley as Vice-Chair, set the meetings for the fourth Thursday of every month, adopt the by-laws as presented and acknowledge the Farmington Independent as the official newspaper. APIF, MOTION CARRIED. b) EDA Finance Discussion Each month the EDA receives a report showing revenues and expenses for the month. Finance Director Hanson explained what the EDA can do with the funds, EDA Minutes(Special) February 16,2017 Page 2 how the EDA is financed,how we operate and what we can do with the cash on hand. Members discussed if we want to have a fund balance at the end of the year and what amount. Currently there is a fund balance of$155,000. This can be used for grants, zero interest loans, projects, etc. c) EDA Review and Orientation Community Development Director Kienberger further explained some financial items. Each year the city transfers$40,000 to the EDA. That transfer is at Council's discretion. Staff provided information on how a board operates and meeting procedures. The 2016-2018 Strategic Plan for Economic Development is provided in every meeting packet and is a reminder of the mission of the EDA and what our role is. The EDA has a certain level of autonomy as defined in state statute,but still reports to the Council. This is a board of seven with two school board members,two councilmembers and three residents. The strategic plan contains five priorities and strategies to implement them. Community Development Director Kienberger reviewed the priorities. Member Simmons suggested placing an annual summary report on the website about things that have been done. Member Corraro suggested doing a press release also. d) Open to Business Program 2017 Joint Powers Agreement This program started in 2013 as a way to provide more technical assistance to our small business community. Several cities in Dakota County participate in this program. Dakota County pays more than 50%of the total cost of the program. Farmington's fee for 2017 is $5,171. The report shows the program had 14 client contacts in Farmington. EDA members would like to know if any of them have been successful in starting a business. MOTION by Simmons, second by Corraro to authorize execution of the Open to Business Joint Powers Agreement between the Farmington EDA and the Dakota County CDA. APIF,MOTION CARRIED. e) February Director's Report Staff provided the building permit report for 2016. A ribbon cutting was held at the TJ Larson State Farm Insurance office. 9. ADJOURN MOTION by Simmons, second by Pitcher to adjourn at 7:30 p.m. APIF,MOTION CARRIED. Respectfully submitted, Cynthia Muller Administrative Assistant