HomeMy WebLinkAbout07-18-22 CITY OF FARMINGTON
ECONOMIC DEVELOPMENT AUTHORITY MINUTES
REGULAR MEETING
July 18, 2022
1. CALL TO ORDER
The meeting was called to order by EDA Chair Wilson at 6:01 p.m.
2. ROLL CALL
Members Present: Bernhjelm,Hoyt,Porter,Lien,Wilson
Members Absent: None
Staff Present: Lynn Gorski,City Administrator; Samantha DiMaggio,Community
Development Director; Kalley Swift,Community Development
Specialist
3. APPROVEAGENDA
MOTION by Bernhjelm,second by Hoyt to approve the Agenda.APIF,MOTION CARRIED.
4. CONSENT AGENDA
a)Meeting Minutes(June 20,2022,Regular Meeting)
b) Monthly Financial Statement
MOTION by Bernhjelm,second by Porter to approve the consent agenda.APIF,MOTION
CARRIED.
S. DISCUSSION ITEMS
a)Business Subsidy Policy-2022 Policy Update
The EDA has allocated funding for the Redevelopment and Property Reinvestment Program
for 2022 with the intent of helping spur investment on commercial and industrial
properties to foster property improvements,redevelopment growth and increase the
productive use of existing infrastructure within the city. Eligible projects focus on property,
building,and code improvements which are permanent and anchored to the site.Projects
utilizing this grant money must go towards a project which helps redevelop,maintain
and/or expand the variety of business use on site.
For 2022,the EDA has allocated up to$30,000 of its annual operating budget to fund the
Redevelopment and Property Reinvestment Program.Within the program guidelines,it
states that the EDA will contribute up to a maximum of 50% of eligible project costs and
that grants typically will not exceed$10,000.
A completed Redevelopment and Property Reinvestment Program application has been
received for the following properties in the following amounts.The totality of the four
applications exceeds the available 2022 funding amount,so the EDA should use the scoring
system created for this program to make their decisions of approval and denial.
• 306-312 Oak Street:$10,000 requested
• 216 Oak Street: $10,000 requested
• 705 Eighth Street: $7,500 requested
• 345 Third Street:$9,240 requested
Economic Development Authority Minutes Page 1 of 2
Regular Meeting
July 18,2022
MOTION by Hoyt,second by Bernhjelm to approve a Redevelopment and Property
Reinvestment Program Grant to 306-312 Oak Street: $10,000, 216 Oak Street:$10,000,
and 705 Eighth Street:$10,000.APIF,MOTION CARRIED.
MOTION by Bernhjelm,second by Porter to deny 345 Third Street but to have staff bring
this application back to the EDA should one of the other grants not be awarded.
6. DIRECTOR'S REPORT
Staff has seen an increase in large industrial development RFP's and a decrease in interest
from local entrepreneurs.
7. ADJOURN
MOTION by Porter,second by Hoyt to adjourn at 6:47 p.m. APIF,MOTION CARRIED.
Respectfully submitted,
Samantha DiMaggio
Community Development Director
Economic Development Authority Minutes Page 2 of 2
Regular Meeting
July 18,2022