EDA Minutes 05-13-2020 (Workshop Meeting)MINUTES
WORKSHOP MEETING - ECONOMIC DEVELOPMENT AUTHORITY (EDA)
Wednesday, May 13th— 5:00 p.m.
Academy Room, Monticello Community Center
Due to recommendations related to the COVID-19 virus, the EDA meeting was conducted
as a remote/virtual meeting.
Commissioners Present: Steve Johnson, Bill Tapper, Jon Morphew, Tracy Hinz, 011ie
Koropchak-White, Lloyd Hilgart, and Jim Davidson
Staff Present: Angela Schumann and Jim Thares
1. Call to Order
Steve Johnson called the workshop meeting of the EDA to order at 5:07 p.m.
2. Roll Call
3. Emergency Loan Program Review
Jim Thares introduced the proposed Emergency Loan Program. He explained that staff
had previously (April 6, 2020) sent out a letter to local Monticello businesses indicating
different financial assistance programs through the State and Federal governments. Staff
have been taking follow-up calls in response to the letter and the needs of the local
businesses.
Thares provided the draft guidelines for the potential EDA business assistance grant
program and it was noted that it utilized the City of St. Louis Park's model. Thares
explained that many cities are doing similar grant programs. Thares recommended using
a portion of the funds available in the Greater Monticello Enterprise Fund (GMEF) to
provide up to a forgivable $5,000 grant per business. It was noted that there is a lot of
money available in federal programs, but that many businesses don't fit the changing
criteria of these programs.
Angela Schumann added that it would be proposed to allocate up to $100,000 from the
GMEF program to this grant program. It was mentioned that any of the proposed
guidelines could be revised per the EDA and that staff were looking for specific
feedback. The EDA's Attorney helped to review the draft guidelines. It was noted that
staff tried to streamline the information needed to be completed by the businesses and
that many of the items should be readily available if they applied for programs such as
EIDL or PPP. Schumann noted that the proposed program would ensure that the grant
recipient use the funds within three months and there would be one reporting
requirement. There would also be the note that if any City bill was delinquent, the EDA
would have the discretion to approve the grant to pay back that bill first.
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Discussion pursued between the EDA members and staff. In summary, the EDA was
supportive of the grant opportunity, but due to uncertainty and changing guidelines of the
state and federal government, they requested tabling action on the item until the next
EDA meeting on May 27, 2020. City staff would also be discussing with the Chamber's
membership committee to provide feedback on what they are seeing, feeling, and their
needs.
The EDA felt that $5,000 would not be enough to help a business that is on the brink of
closing permanently remain open. It was also noted that the program could see more than
20 businesses requesting the maximum funding amount. There was also a concern with
the administration costs of the City to implement the program.
The EDA also discussed using the program for property tax or utility forgiveness or
structuring the grant towards innovation and implementation of new business plans
during and after COVID-19.
Bill Tapper, Jim Davidson, 011ie Koropchak-White, and Tracy Hinz all participated on a
small business roundtable discussion with local businesses to understand their needs
during this time. They noted each business has unique needs.
4. Housing Study RFO/P Review
Jim Thares introduced the housing study proposals and asked the EDA if they were still
interested in moving forward in light of the COVID-19 effects on the economy. It was
noted that the timeline to complete the Study is late August, 2020 so it can inform the
Monti204O + Comprehensive Plan update. Thares noted that the EDA has $18,000
budgeted from the general fund for this project and that most bids came close to that
number.
Angela Schumann explained each EDA member was provided copies of the proposals
and a scoring sheets to help rank each firm. She also asked whether the EDA felt it wise
to proceed, if they liked the proposals, and if modifications to the scope needed to occur.
The EDA members noted that since 2017, there have been a variety of housing projects
constructed or in the works. The housing study could help guide the decision making
process for more housing in the downtown. There was the concern with the time and if
the data would be good due to implications due to the pandemic.
It was noted that the timeline for completing the updated housing study may need to be
revised. Due to the short amount of discussion time in the workshop, staff recommended
tabling action to allow the EDA more time to properly review, rank, and discuss each
proposal. The EDA's consensus was to hold off on taking action in selecting a firm until
the next EDA meeting on May 27, 2020.
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5. Adjournment
The EDA adjourned the meeting at 6:00 p.m.
Recorder: Jacob Thunander
Approved: June 10th, 2020
Attest:
JiTha es, Economic Development Director
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