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HomeMy WebLinkAbout01.16.24 EDA MinutesCity of Farmington Economic Development Authority Regular Meeting Minutes Tuesday, January 16, 2024 The Farmington Economic Development Authority met in regular session on Tuesday, January 16, 2024, at Farmington City Hall, 430 3rd Street, Farmington, Minnesota. 1. CALL TO ORDER Chair Wilson called the meeting to order at 5:00 p.m. 2. PLEDGE OF ALLEGIANCE Chair Wilson lead everyone in the Pledge of Allegiance. 3. ROLL CALL Members Present: Chair Steve Wilson Commissioners Holly Bernatz, Joshua Hoyt, Nick Lien, and Katie Porter Members Absent: None Also Present: Lynn Gorski, City Administrator Julie Flaten, Asst City Administrator/HR Director Deanna Kuennen, EDA Executive Director Stephanie Aman, Economic Development Coordinator John Powell, Public Works Director Shirley Buecksler, City Clerk 4. APPROVE AGENDA Motion was made by Commissioner Hoyt and seconded by Commissioner Bernatz to approve the agenda, as presented. Motion carried: 5 ayes / 0 nays 5. CITIZEN COMMENTS No one addressed the Commission to speak. 6. CONSENT AGENDA 6.1 Minutes of the November 20, 2023 Economic Development Authority Meeting 6.2 Monthly Financial Report Motion was made by Commissioner Lien and seconded by Commissioner Hoyt to approve the Consent Agenda, as amended. Motion carried: 5 ayes / 0 nays Economic Development Authority Meeting Minutes of January 16, 2024 Page 1 of 5 7. PUBLIC HEARINGS There were no public hearings. 8. DISCUSSION ITEMS 8.1 2024 EDA Budget and Work Plan Director Kuennen walked through the work plan and budget for the Commissioners. This year, the EDA funding includes dedicated levy dollars to support economic development initiatives. In June, a proposed work plan with associated budget was presented for discussion. That led to the final levy request and approval in 2024 of $150,000. Attached is the 2024 EDA Budget and a 2024 Work Plan with calendar. The work plan illustrates how the additional funding is being allocated and applied towards economic development initiatives, and the calendar shows the cadence associated with the various activities. The calendar also helps Staff and the EDA identify opportune times to add additional activities that support the overall vision and goals of the EDA and City. The budget and work plan also provide flexibility so that, as opportunities arise, Staff can evaluate each to see if and how they would benefit Farmington. Not every project or opportunity identified will be the right fit. Proper vetting will happen to ensure that it is the right fit at the right time to advance the EDA's mission, fit within the economic develo9pment goals of the City, and compliment the heart and soul of Farmington. Commissioners asked questions and received answers. Motion was made by Commissioner Hoyt and seconded by Commissioner Lien to approve the 2024 Work Plan with associated budget and calendar. Motion carried: 5 ayes / 0 nays 8.2 Community Venture Network (CVN) Update Coordinator Aman stated that CVN has a proven track record of bringing viable opportunities for Economic Development professionals to attract businesses to their communities. As the EDA and Council have asked Staff to go out and be bold in our work, continuing our work with CVN allows us access to companies we might not have otherwise known about and gives us the ability to seek projects that might not otherwise consider Farmington. CVN hosts three networking events each year where companies that are considering locating or relocating their business to a more rural area present to the attendees their plans and hopes for either expansion or relocation. Audience attendees include cities, chambers, brokers, and financing companies. CVN provides attendees the opportunity to network with the companies that are presenting through formal breaks and a casual round table lunch. From these Economic Development Authority Meeting Minutes of January 16, 2024 Page 2 of 5 CVN events, Staff have been able to share Farmington's story with businesses looking to relocate and have been successful in bringing prospects to Farmington. Currently, there are two projects considering Farmington that are a direct result of the relationships developed and Staff attendance at CVN networking events. In addition to learning more about businesses seeking to relocate, other opportunities have been presented for Staff consideration from The Brookshire Company. Because of the relationship developed with CVN, we were made aware of the opportunity to participate in "My Town." We have also been in conversations about piloting other programs that The Brookshire Company has considered adding to its services. CVN has been a long-standing resource for Staff, and we value the events and relationships that have been built over many years. Motion was made by Commissioner Bernatz and seconded by Commissioner Porter authorizing the Executive Director to execute the contract for Community Venture Network, with The Brookshire Company. Motion carried: 5 ayes / 0 nays 8.3 "My Town" Docuseries Update Coordinator Aman said this update has been brought forward to inform the EDA on the next steps of this project and to respectfully request that the body authorize the Executive Director to execute the contract for "My Town." Since the November meeting, Staff have considered how to mesh the many stories gleaned that evening, to create an exciting and future -forward docuseries for the City of Farmington. Staff met with Cory Hepola and, throughout conversations with him, two story lines emerged — one story line is a successful business owner with deep roots in the community that values our long-standing traditions and also can envision the future growth of Farmington; the other story line will focus on a successful entrepreneur and community volunteer that is a transplant by choice who leads an active and involved life in Farmington, creating a positive environment that she hopes her children will choose to return to someday. After thoughtful consideration on how to weave several themes together, the old and the new, the farmland and the downtown, the past and the future, with the theme of "rural is a state of mind" - Cory identified the stories of Janie Tutewohl and Holly Bernatz to be the lens through which Cory tells the Farmington story. Economic Development Authority Meeting Minutes of January 16, 2024 Page 3 of 5 The exact date for filming has not been set but will be in the May/June 2024 timeframe. The agreement that outlines the costs, as well as the timeline for the production of season one, is attached. Staff are excited about this unique opportunity to be featured and look forward to sharing more with the EDA as the details get finalized. Motion was made by Commissioner Hoyt and seconded by Commissioner Porter authorizing the Executive Director to execute the "My Town" contract with The Brookshire Company, with direction to talk with Corey Hepola on what the filming and content looks like. Motion carried: 5 ayes / 0 nays 8.4 2024 Minnesota Real Estate Journal (MREJ) Contract The MREJ is part of REjournals, the largest producer of commercial real estate content across the Midwest and Texas providing commercial real estate news, information, and networking that is both timely and local in 16 states. In 2023, Team Farmington presented at four events, attended multiple real estate summits focused on targeted topics, and represented Farmington with a branded booth and specific marketing materials. Staff has worked with the MREJ to continue the marketing partnership launched in 2023. The 2024 contract is a continuation allowing for enhanced marketing opportunities. Motion was made by Commissioner Lien and seconded by Commissioner Bernatz authorizing the Executive Director to execute the contract with MREJ for the 2024 Marketing Plan. Motion carried: 5 ayes / 0 nays 8.5 Site Location Partnership (SLP) Service Agreement — 2024 "Comprehensive Premium Program" Staff have been in contact with SLP to position ourselves to take full advantage of the partnership. Staff have already prepared materials that will be highlighted and shared at the February IME West trade show in Anaheim, California. It has been encouraged that Staff also attend this show to witness firsthand how SLP represents their clients, to actively participate in the networking opportunities, and to understand for future trade shows the best way for Farmington to "show up" physically or virtually. Travel was included as a placeholder in the 2024 budget; however, securing lodging has been difficult. Staff will continue to review and determine the most appropriate engagement and participation. Economic Development Authority Meeting Minutes of January 16, 2024 Page 4 of 5 Motion was made by Commissioner Bernatz and seconded by Commissioner Hoyt authorizing the Executive Director to execute the one-year Service Agreement with SLIP. Motion carried: 5 ayes / 0 nays 9. DIRECTOR'S REPORT 9.1 Director's Report Director Kuennen and Coordinator Aman provided the EDA with highlights and accomplishments in 2023. 10.ADJOURNMENT Motion was made by Commissioner Hoyt and seconded by Commissioner Bernatz to adjourn the meeting at 6:37 p.m. Motion carried: 5 ayes / 0 nays spectfully submitted, S irley R sler City Clerk Economic Development Authority Meeting Minutes of January 16, 2024 Page 5 of 5