HomeMy WebLinkAbout02.17.26 EDA Minutes City of Farmington
Economic Development Authority
Regular Meeting Minutes
Tuesday, February 17, 2026
The Farmington Economic Development Authority met in regular session on Tuesday,
February 17, 2026 at Farmington City Hall, 430 Third Street, Farmington, Minnesota.
1. CALL TO ORDER
Executive Director Kuennen called the meeting to order at 4:30 pm.
Motion was made by Commissioner Lien and seconded by Commissioner Wilson
to appoint Commissioner Bernatz to preside over the meeting.
Motion carried: 3 ayes / 0 nays
2. PLEDGE OF ALLEGIANCE
Commissioner Bernatz lead everyone in the Pledge of Allegiance.
3. ROLL CALL
Members Present: Commissioners Holly Bernatz, Nick Lien, and Steve Wilson
Members Absent: Commissioner Jake Cordes
Staff Present: Lynn Gorski, City Administrator
Deanna Kuennen, EDA Executive Director
Stephanie Aman, Economic Development Coordinator
Shirley Buecksler, City Clerk
4. APPROVE AGENDA
Motion was made by Commissioner Wilson and seconded by Commissioner Lien
to approve the agenda as presented.
Motion carried: 3 ayes / 0 nays
5. CITIZEN COMMENTS
No one addressed the EDA to speak.
6. CONSENT AGENDA
6.1 Minutes of the January 20, 2026 Regular Economic Development Authority
Meeting
EDA Minutes of February 17,2026 Page 1 of 4
6.2 Minutes of the January 20, 2026 Economic Development Authority Closed
Session
6.3 Quarterly Report -Open to Business (Q4 2025)
Motion was made by Commissioner Lien and seconded by Commissioner Wilson
to approve the Consent Agenda, as presented.
Motion carried: 3 ayes / 0 nays
7. PUBLIC HEARINGS
8. DISCUSSION ITEMS
8.1 Election of 2026 EDA Chairperson and Vice-Chairperson
Motion was made by Commissioner Wilson and seconded by Commissioner
Lien to elect Commissioner Cordes as EDA Chair and Commissioner Bernatz
as EDA Vice-Chair.
Motion carried: 3 ayes / 0 nays
8.2 Annual EDA Business - Acknowledgement of Official Newspaper and
Establishment of the 2026 Meeting Schedule
Motion was made by Commissioner Wilson and seconded by Commissioner
Lien ratify the City Council's designation of the official newspaper as the
Dakota County Tribune.
Motion carried: 3 ayes / 0 nays
Motion was made by Commissioner Bernatz and seconded by Commissioner
Lien to approve and establish the 2026 EDA meeting schedule.
Motion carried: 3 ayes / 0 nays
8.3 2026 EDA Work Plan
The EDA Work Plan serves as a strategic guide that aligns economic
development goals with budgetary resources. The 2026 EDA Work Plan has
been updated to recognize that economic development works best when
it is connected, data-informed, and relationship-driven. The Work Plan serves
as an integrated framework and builds upon the momentum and success
that Farmington has experienced. The Work Plan also builds in performance
measures and accountability to help inform future program and policy
EDA Minutes of February 17,2026 Page 2 of 4
decisions. The Work Plan is divided into the following, integrated
components:
• Continuous Operations Strategy & Resiliency
• Strategic Partnerships & Priority Marketing Channels
• Program Advancement & Strategic Investment
• Performance Measures & Accountability
• Calendar of Events
• Approved Budget
Following discussion, the EDA confirmed their commitment to the Work Plan.
8.4 Economic Development Potential Incentives Discussion
The EDA reviewed and discussed past EDA financial incentive programs, how
those programs relate to the needs expressed by existing and potential
businesses today, and ideas moving forward. In general, the EDA expressed
their support to provide business incentives and provided the following
guidance:
Revolvinq Loan Program
• The EDA is interested in pursuing a revolving loan program but would
like to have additional discussion.
• The EDA expressed concern regarding the mechanics of administering
a loan program (collecting payments, follow up on delinquent loans,
etc.) and the time constraints this could create.
• The EDA asked if there are ways to financially support loans obtained
through local lending institutions instead -such as providing collateral
or downpayments on traditional bank loans.
Microgrants
• The EDA agreed to bring back the most recent microgrant program as
a means to support the Farmington business community. With
additional language that limits the microgrants from being awarded
to the same businesses/properties year over year.
The EDA directed Staff to move forward with program development. In
addition, the EDA expressed interest in looking at additional ways that it can
support young businesses. Of particular interest was learning more about
incubators and if this model could be deployed in Farmington.
EDA Minutes of February 17,2026 Page 3 of 4
9. DIRECTOR'S REPORT
9.1 Director's Report
The EDA discussed the value of the Director's Report and requested that the
format used in 2025 continue.
10.ADJOURNMENT
Motion was made by Commissioner Lien and seconded by Commissioner Wilson
to adjourn the meeting at 5:25 pm.
Motion carried: 3 ayes / 0 nays
spectfully submitted,
S r ey R B OV&#-1
City Clerk
EDA Minutes of February 17,2026 Page 4 of 4