HomeMy WebLinkAboutMinutes_2015_9_28_Meeting(141)MINUTES
ECONOMIC DEVELOPMENT AUTHORITY
Regular
September 28, 2015
The meeting was called to order by Chair Larson at 6:30 p.m.
Members Present: Jolley, Larson, Bonar, Wilson
Members Absent: Zeaman
Also Present: Adam Kienberger, Community Development Director
2. PLEDGE OFALLEGL4NCE
3. ROLL CALL
4. APPROVE AGENDA
MOTION by Wilson second by Bonar to approve the Agenda. APIF, Motion Carried.
5. CITIZEN COMMENTSIPRESENTA TIONS
6. CONSENT AGENDA
MOTION by Wilson second by Jolley to approve the Consent Agenda as follows:
a) Meeting Minutes — July 27, 2015 Regular Meeting
b) Monthly Statements
APIF, Motion Carried.
7. PUBLICHEARINGS
8. DISCUSSIONITEMS
a) Downtown Redevelopment Plan Update — Director Kienberger indicated that October 7th will be
the first of four meetings of the Task Force. Director Kienberger and Planning Manager Wippler
will update the EDA on task force discussions. The Task Force will provide information to the
consultants. Director Kienberger will give continuous updates to the Board.
b) FDA Fund Balance - Loan Fund Partnership Discussion - Director Kienberger reviewed previous
discussion regarding this topic. A sample Revolving Loan Fund Memo of Understanding with the
Metropolitan Consortium of Community Developer's Open to Business program (MCCD), was
reviewed by the board to determine if this is something they would be interested in pursuing. Larson
asked if there was interest in pursuing this. These would be loans to businesses located in
Farmington (proper). This tool could assist in additional funding that could bridge the gap between
what the lender will approve and what the business would need. Member Jolley felt there was a lot
of risk with this. Director Kienberger noted that this type of assistance is for the less credit worthy
applicants. Farmington can model the plan any way they would like. A portion of the fund balance
could be dedicated. Member Wilson likes the idea of having this available as a tool. This will be
discussed again at future meetings with answers to some of the questions asked.
EDA Minutes (Regular)
September 28, 2015
Page 2
c) 2016-2018 Strategic Plan for Economic Development — Director Kienberger is asking to start the
October meeting at an earlier time due to the attendance of Dr. Craig Waldron who will assist the
committee with developing the 2016-2018 Strategic Plan. It was determined that the October 26 th
EDA meeting will start at 5:OOPM for the purpose of developing the 2016-2018 Strategic Plan.
9. DIRECTOR'S REPORT
September Director's Report
1. Building Permit Report — 44 building permits for new single family homes have been issued through
September 18th, 2015.
2.2040 Comp Plan Update - Director Kienberger is requesting a joint meeting with the Planning
Commission in early 2016. The purpose of this meeting would be about land use and economic
development to promote a strong pro -business community.
3. City Bond Rating Upgrade - Director Kienberger indicated that the City's bond rating has increased
from AA- to AA_
4. IEDC Entrepreneurship and Small business Development Training Course — Director Kienberger
participated in the International Economic Development Council's (1EDC) trainin course on
Entrepreneurship and Small Business Development in Minneapolis September lOt'& I I th. The course
provided information and examples from across the country about ways we can develop and encourage
small business growth in our community. 20 different states were represented at this training.
5. Minnesota Manufacturer's Recognition — October I -10 is Minnesota Manufacturing week. A
Proclamation will be brought to the City Council's October meeting to recognize our local
manufacturing economy.
6. EDA Structure - City Council provided direction to City Administrator McKnight at their September
14 1h Work, Session to proceed with conducting the proper notices and requirements necessary to increase
the size of the EDA from five to seven. Minnesota State Statute regulates the makeup of EDA's in the
state. Statute allows for EDA's to be made up of either three, five or seven members. We currently have
a five member EDA that includes two city council representatives.
The City Council has indicated that the two new members to be appointed will be from the ISD 192
School Board. When the process is completed, it is anticipated the new members will join the EDA in
February at the same time other commission and advisory board appointments are made.
10. ADJOURN
MOTION by Jolley, second by Wilson to adjourn at 7:54 p.m. APIF, Motion Carried.
Respectfully submitted,
Sue Miller
Administrative Assistant