EDA Minutes 04-14-2021MINUTES
REGULAR MEETING - ECONOMIC DEVELOPMENT AUTHORITY (EDA)
Wednesday, April 14th, 2021— 6:00 p.m.
Mississippi Room, Monticello Community Center
Participants attended in -person or remotely.
Commissioners Present: Steve Johnson, Bill Tapper, Jon Morphew, Tracy Hinz, 011ie
Koropchak-White, Lloyd Hilgart, and Jim Davidson
Staff Present: Jim Thares, Angela Schumann, Sarah Rathlisberger and Jacob Thunander
1. Call to Order
Steve Johnson called the Regular Meeting of the EDA to order at 6:05 p.m.
2. Roll Call
3. Consideration of additional agenda items
4. Consent Agenda
OLLIE KOROPCHAK-WHITE MOVED TO APPROVE THE CONSENT AGENDA. BILL TAPPER
SECONDED THE MOTION. MOTION CARRIED, 7-0.
a. Consideration of Approving Joint Workshop Meeting Minutes — March 10, 2021
Recommendation: Approving Joint Workshop Meeting Minutes — March 10,
2021.
b. Consideration of Approving Regular Meeting Minutes — March 10, 2021
Recommendation: Approve Regular Meeting Minutes — March 10, 2021.
c. Consideration of Approving Special Meeting Minutes — March 19, 2021
Recommendation: Approve Special Meeting Minutes — March 19, 2021.
d. Consideration of Approving Regular Meeting Minutes — March 24, 2021
Recommendation: Approve Regular Meeting Minutes — March 24, 2021.
e. Consideration of Approving Payment of Bills
Recommendation: Approve Payment of Bills through March 2021.
f. Consideration of Adopting Resolution #2021-04 Ratifying Approval and
Execution of a Collateral Assignment of TIF Note by GCRE-Rivertown, LLC to
Bellwether Enterprise Mortgage Investments, LLC
Recommendation: Adopt EDA Resolution #2021-04 ratifying the Collateral
Assignment of TIF Revenue Note by GCRE-Rivertown, LLC to Bellwether
Enterprise Mortgage Investments, LLC
Regular Agenda
5. Consideration of adopting Resolution #2021-05 approving a GMEF Loan Guidelines
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Subsidy Agreement Extension for Rustech Brewing Company, LLC related to Job and
Wage Compliance
Jim Thares noted that Rustech Brewing has been in business for almost three years. They
received a $75,000 GMEF loan through the EDA in July 2017. As part of the funding,
Rustech agreed to create four full time equivalent jobs. Two of the jobs were to occur by
July 2018 and two additional jobs in July 2019. Through submittals of annual business
subsidy reports, they have fallen short on new job creation. The pandemic and regulations
have hit the business hard, however Rustech Brewing showed that they were able to
maintain their job numbers throughout 2020. Overall, they have created 2.9 full time
equivalent jobs.
Staff recommended an extension of agreement for fifteen additional months (July 2022).
Bill Tapper asked if fifteen months was enough time for the extension. Thares noted that
he received an email from Bill Burt, the owner of Rustech Brewing, noting a positive
outlook for the future and achieving that requirement within fifteen months. Davidson
further asked if Rustwch would be expanding their seating area. Thares noted that
Rustech Brewing is in discussion with the landlord and looking to expand into the space
where the hair salon is currently located. No specific timeframe was noted, but they have
inquired about another EDA GMEF Loan. No application has been submitted at this time.
Tracy Hinz asked how the fifteen -month timeframe was chosen. Thares noted that fifteen
months would match up with the benefit date established in the loan document.
BILL TAPPER MOVED TO ADOPT RESOLUTION #2021-05 APPROVING AN
EXTENSION OF RUSTECH BREWING'S GMEF LOAN SUBSIDY AGREEMENT
TIMELINE RELATED TO JOB CREATION GOAL PERFORMANCE. LLOYD
HILGART SECONDED THE MOTION. MOTION CARRIED, 5-0-2 WITH JON
MORPHEW AND TRACY HINZ ABSTAINING FROM THE VOTE.
6. Consideration of Development Process Related to Block 52
Jim Thares provided an update regarding the current status of development process for
Block 52. Thares noted that in November 2020, a summary status update information
packet was provided to past developers who indicated interest as well as an additional
firm that is familiar with and currently involved downtown redevelopment. In follow up
phone calls with these development companies, they all indicated some degree of
interest in redevelopment of Block 52. Staff asked the EDA to provide further direction
on continuing forward with redevelopment efforts.
The EDA discussed the four possible developers for the block in detail. It was agreed
that staff should send out the questionnaire to developers and move ahead as
expeditiously as possible.
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Jon Morphew asked if the questionnaire would be sent to more developers than the
four noted on the staff report. Thares explained that staff have a list of developers from
the first cycle that the questionnaire could be sent to. It was agreed by the EDA that
staff should send it to the entire list of developers from the list and keep the return
response time short. Bill Tapper noted concern with moving too quickly and having a
similar situation happen with the Beard Group proposal. It was noted that any potential
developer may want to take on any additional acquisition of property. Thares also noted
that dialogue is still occurring with property owners in the Block.
No action on this item was taken.
7. Economic Development Director's Report
Jim Thares and Angela Schumann provided the Economic Development Director's
Report as noted in the agenda.
S. Adjourn
TRACY HINZ MOVED TO ADJOURN THE MEETING AT 6:55 P.M. JON MORPHEW
SECONDED THE MOTION. MOTION CARRIED, 7-0.
Recorder: Jacob Thunander
Approved: May 12th, 2021
Attest:
Jim hares, Economic Development Director
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