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HomeMy WebLinkAbout06.16.25 EDA Minutes City of Farmington Economic Development Authority Regular Meeting Minutes Monday, June 16, 2025 The Farmington Economic Development Authority met in regular session on Monday, June 16, 2025, at Farmington City Hall, 430 Third Street, Farmington, Minnesota. 1. CALL TO ORDER Chair Hoyt called the meeting to order at 5 pm. 2. PLEDGE OF ALLEGIANCE Chair Hoyt lead everyone in the Pledge of Allegiance. 3. ROLL CALL Members Present: Chair Joshua Hoyt Commissioners Holly Bernatz, Jake Cordes, Nick Lien, and Steve Wilson Members Absent: None Staff Present: Lynn Gorski, City Administrator David Chanski, Asst. City Administrator/HR Director Deanna Kuennen, EDA Executive Director Stephanie Aman, Economic Development Coordinator Shirley Buecksler, City Clerk Also Present: Justin Erickson, Vice President of Site Selection and Economic Development, The Brookshire Company 4. APPROVE AGENDA Motion was made by Commissioner Wilson and seconded by Commissioner Lien 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 May 19, 2025 Regular Economic Development Authority Meeting EDA Minutes of June 16, 2025 Page 1 of 3 6.2 Monthly Financial Report Motion was made by Commissioner Wilson and seconded by Commissioner Bernatz to approve the Consent Agenda, as presented. Motion carried: 5 ayes / 0 nays 7. PUBLIC HEARINGS 8. DISCUSSION ITEMS 8.1 Partnership Presentation -The Brookshire Company Executive Director Kuennen introduced Justin Erickson, Vice President of Site Selection and Economic Development with The Brookshire Company. Mr. Erickson presented an overview of The Brookshire Company's mission and services, shared information on current collaborations, and participated in conversation with the EDA on how the existing partnership can grow. Executive Director Kuennen and Coordinator Aman will continue to attend CVN events, build relationships, and work together to strengthen the community as a whole. 8.2 2026 Preliminary Budget, Work Plan, and EDA Levy Discussion Executive Director Kuennen presented the 2026 preliminary budget, work plan, and EDA levy. A discussion ensued with the EDA expressing support for the proposals and directing Director Kuennen to work with the Finance Director to bring a final budget, work plan, and preliminary levy request forward for approval in August. 8.3 Farmington's EDGE Coordinator Aman presented Farmington's EDGE (Economic Development and Growth Exchange), a new initiative designed to strengthen communication with the local business community. The EDA expressed their support for this initiative, recognizing the value it will have on both internal and external communications, and as a tool to educate and inform the community. Motion was made by Commissioner Wilson and seconded by Commissioner Bernatz authorizing the Executive Director to use EDA funds for the website module and the one-time implementation fee. Motion carried: 5 ayes / 0 nays EDA Minutes of June 16,2025 Page 2 of 3 8.4 Continued Discussion - Farmington Local IMPACT Program (IMPACT) Director Kuennen presented the IMPACT program at the EDA's June I6th regular meeting but, due to time constraints at that time, discussion was continued until tonight's meeting. Discussion included: • How funds could be used to incentivizing businesses with relocation expenses. • Why any new program(s) would require clear parameters. • Program funds should benefit the business community as a whole (not only downtown). • Outside of loan and grants, what other ways can the EDA utilize their funds to support business growth. The EDA directed Staff to move away from developing a traditional loan/grant program and instead research entrepreneurial programs and ideas that could support and enhance the entrepreneurial ecosystem in Farmington. They also directed Staff to consider how EDA funds could be used to implement things such as the wayfinding program, which would have a positive impact on the community as a whole. 9. DIRECTOR'S REPORT 9.1 Director's Report 10.ADJOURNMENT Motion was made by Commissioner Cordes and seconded by Commissioner Bernatz to adjourn the meeting at 6:44 pm. Motion carried: 5 ayes / 0 nays R spectfully submitted, Pirleytiucksle City Clerk EDA Minutes of June 16, 2025 Page 3 of 3