EDA Minutes 11-10-2020MINUTES
REGULAR MEETING - ECONOMIC DEVELOPMENT AUTHORITY (EDA)
Tuesday, November loth, 2020 — 6:00 p.m.
Mississippi Room, Monticello Community Center
Participants attended in -person and remotely.
Commissioners Present: Steve Johnson, Bill Tapper, Tracy Hinz, 011ie Koropchak-White,
and Jim Davidson
Commissioners Absent: Jon Morphew and Lloyd Hilgart
Staff Present: Jim Thares
1. Call to Order
Steve Johnson called the Regular Meeting of the EDA to order at 6:10 p.m.
2. Roll Call
3. Consideration of Additional Agenda Items
None.
4. Consent Agenda
OLLIE KOROPCHAK-WHITE MOVED TO APPROVE THE CONSENT AGENDA.
JIM DAVIDSON SECONDED THE MOTION. MOTION CARRIED, 5-0.
a. Consideration of Approving Regular Meeting Minutes — October 14, 2020
Recommendation: Approve Regular Meeting Minutes — October 14, 2020.
b. Consideration of Approving Regular Meeting Minutes - October 28, 2020
Recommendation: Approve Regular Meeting Minutes — October 28, 2020.
c. Consideration of Approving Payment of Bills
Recommendation: Approve payment of bills through October, 2020.
Regular Agenda
5. Consideration of Approving Small Business Emergency Grant Agreements in the
Amount of $5,000 to: TMC & J Taylor Corp. dba Beef O'Brady's and Bodv
Rhythms Wellness Inc. to Mitigate COVID-19 Economic Impacts
Jim Thares introduced the item for consideration of approving two grants through the
EDA's Small Business Emergency Grant Program. Thares indicated that both
applications have been reviewed by staff and appear eligible.
BILL TAPPER MOVED TO APPROVE SMALL BUSINESS EMERGENCY GRANT
AGREEMENTS BETWEEN THE EDA AND TMC & J TAYLOR CORP. DBA BEEF
O' BRADY'S AND BODY RHYTHMS WELLNESS INC. IN THE AMOUNT OF
Economic Development Authority Minutes — November 10', 2020 Page 1 1 4
$5,000 TO MITIGATE COVID-19 ECONOMIC IMPACTS. OLLIE KOROPCHAK-
WHITE SECONDED THE MOTION. MOTION CARRIED, 5-0.
6. Consideration of Wright County Economic Development Partnership Update and
approving 2021 Membership and Dues in the amount of $2,606
Jim Thares introduced the item and noted the EDA has been a member of the Wright
County Economic Development Partnership (WCEDP) for many years. Thares
introduced Jolene Foss, Executive Director of WCEDP.
Foss provided an introduction and update for the partnership. In 2020, the partnership had
73 members which included all cities in Wright County, 1 township, 41 businesses, 14
non -profits, and many other partners. Foss provided the economic development goals and
objectives for the partnership. Foss also explained several upcoming events that the
partnership is holding or collaborating with other organizations. She also explained some
possible seminar topics and encouraged EDA members if they had suggestions to reach
out and they could help find the information of interest and bring in an expert to share
that knowledge. She provided information about possible future initiatives of the
partnership.
Lastly, Foss explained what the partnership has been doing the past six months, which
included CARES Act grant review and administration, meeting with stakeholders and
attending board meetings, familiarizing herself with the policies and procedures of the
partnership, attending partnership related meetings, and marketing. Recently, Foss and
other organizations met with Twin City Die Castings in Monticello to help get them
resources to get training available to fill positions they need.
Steve Johnson asked about employee retention and workforce development and the
efforts the partnership is doing in terms of affordable housing. Foss responded that the
partnership in the past has not put a lot of focus on housing, especially affordable or
workforce and senior housing. Foss noted the importance of this type of housing in the
County and could be a future initiative for them. Darek Vetsch, Wright County
Commissioner, indicated through the Central Mississippi Regional Planning Partnership
and their 2030 Framework, they are doing a regional housing inventory that will identify
how the area is doing from an affordable housing perspective. Johnson also added that
the City of Monticello EDA recently approved a housing study.
Thares asked if any Monticello businesses received the CARES Act Grant through the
partnership. Foss indicated that the finalized list was not available as the County is
responsible for the last round of approval, but it is believed that 25 businesses and 3 non-
profits in Monticello that will receive funding.
Thares also noted that Foss recently participated on a discussion with the City of
Monticello involving a large development prospect. Thares also mentioned that an
industrial prospect called the City today and they are interested in locating in Monticello,
but will need loan assistance. Thares envisioned collaboration between the EDA and
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WCEDP for potential gap loan financing. Foss added that in partnership with Wright
County, there are funds available in the enterprise loan fund and that this would be an
appropriate application.
BILL TAPPER MOVED TO APPROVE THE 2021 ANNUAL WCEDP MEMBERSHIP
DUES IN THE AMOUNT OF $2,606. TRACY HINZ SECONDED THE MOTION.
MOTION CARRIED, 5-0.
Wright County Commissioner Darek Vetsch, District #, explained that the County Board
recently reviewed the final report from the Wright County Economic Development
Authority Advisory Committee. They finalized three high level initiatives that they would
like to accomplish through the EDA. These include County property liquidation,
partnering with local cities and townships to meet their economic development needs,
and access to state and federal grants at a more global level. Vetsch noted that a
resolution for the creation of an EDA is on the Board's agenda for their meeting on
November 24. If approved, the EDA would have their first meeting sometime during
January 2021, where they will formalize bylaws and a board makeup. The initial meeting
would be involve the five county commissioners. The intent is to later on increase the
EDA commissioner membership to the either seven or nine members. Solicitations for
members throughout the county would be sought. The County EDA will not have any
taxing authority. All cities and townships in the county would receive a draft resolution
for participation. Vetsch also added that the County has stepped up their efforts with the
Economic Development Partnership by increasing their funding to them and taking a
much more active role in working with them.
Steve Johnson asked how the Wright County EDA organization was going to be funded.
Vetsch noted that there would be proceeds from the sales of their properties as initial seed
money. The County also has some funds that they plan to transfer into the program for
the initial piece of it.
7. Economic Development Director's Report
Jim Thares provided the Economic Development Director's Report.
Thares noted at the September 9, 2020 EDA Meeting, the EDA authorized entering into a
purchase agreement with Steve Johnson for three properties on Block 52 in the amount of
$829,000. The title search has identified one encumbrance between a joint wall between
Johnson's property and a neighboring building. Staff recommends that the EDA Attorney
revise the title objection letter and remove objection #9 that would allow the rest of the
process to move forward and an eventual property closing. Thares noted there is a minor
risk with the encumbrance. It's possible that the building sharing the joint wall with the
adjacent property would not be able to be torn down or that it would require an structural
engineering study and some mitigation measures if it permissible to demolish it. Thares
also noted that there is also a financial risk if the EDA delays on moving forward with the
current purchase offer as the corner properties are now vacant and have no relocation
expenses associated with their acquisition at this time. If the EDA waits, the owner could
Economic Development Authority Minutes — November 10 ', 2020 Page 314
enter into lease agreements with tenants. This would potentially add $110,000 to the cost
for a future purchase agreement. Balancing out the various risk scenarios, staff
recommends that the EDA moves ahead with the purchase.
The EDA agreed to continue moving forward with the purchase of the Johnson properties
and directed Thares to discuss the intent with the EDA Attorney.
011ie Koropchak-White noted the success of Jill Agosto's building in the downtown
using the Downtown Fagade Improvement Program. Thares noted he would send photos
of before and after views of Ms. Agosto's building.
8. Adjourn
BILL TAPPER MOVED TO ADJOURN THE MEETING AT 7:07 P.M. OLLIE
KOROPCHAK-WHITE SECONDED THE MOTION. MOTION CARRIED, 5-0.
Recorder: Jacob Thunander -F
Approved: _ December 9th, 2020
Attest:
, Economic Development Director
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