03-14-13 EDAEDA MEETING
MARCH 14, 2013
7:30 PM
Call to Order: President Stockamp called the EDA meeting to order at 7:40 PM.
Roll Call President Jessica Stockamp; Commissioners: Vern Heidner, Doug Schroeder and
Jason Warehime. Commissioner Tom Darkenwald absent.
Staff: Lori Johnson, City Administrator; Andy MacArthur, City Attorney and Tami Loff, City Clerk,
1. Consider Economic Development Loan Policy.
City Administrator Johnson reviewed the draft Economic Development Loan Policy.
Recommended changes by the EDA include; Add cash or fixed assets under Loan Program, add
promissory note in addition to personal guarantee under Security #2, add full time equivalent to
Eligibility #1, under Permitted Uses the EDA recommended combing Machinery and Equipment
and Fixtures and adding allowable at the EDA discretion. They also recommended prioritizing
that list.
Commissioner Heidner motioned to approve the Economic Development Loan Policy
with recommended changes as listed above. Seconded by Commissioner Schroeder.
All in favor. Motion carried.
2. Review Family Speech and Therapy Economic Development Loan Request.
City Administrator Johnson reviewed the request. The EDA asked for more information on
what the money requested will be used for. City Administrator Johnson will get more
information to clarify.
There was discussion on the PID 118 - 038 - 000011 going into tax forfeit. This is a vacated ROW
parcel in front of Family Speech and Therapy building. Family Speech and Therapy has been
given the information to contact them and attempt to acquire the property before it would be
forfeited. The EDA recommend this be a requirement of the loan agreement. They also directed
staff to facilitate with the Struncs the current owners of the property.
Commissioner Heidner motioned to waive the initial $750.00 application processing
fee for Family Speech and Therapy. Seconded by Commissioner Schroeder. All in
favor Motion carried.
Commissioner Heidner motioned to approve the Economic Loan request to Family
Speech and Therapy and Northland LLC in the amount of $25,000 with conditions
listed. Seconded by Commissioner Warehime. All in favor. Motion carried.
Commissioner Heidner motioned to advise all tax revenue from PID 118 -216-
001010 be returned in tax abatement for 2014. Seconded by Commissioner
Schroeder. All in favor. Motion carried.
3. Commissioner and Staff Updates and Reports.
City Administrator Johnson said the Business Subsidy Policy was previously reviewed by the
EDA but never formally approved.
Commissioner Schroeder motioned to approve the Business Subsidy Policy.
Seconded by Commissioner Heidner. All in favor. Motion carried.
4. Adjourn
Commissioner Schroeder motioned to adjourn. Seconded by Commissioner
Warehime. All in favor. Motion carried. EDA meeting adjourned at 9:31 PM.
President Jessica Stockamp
Attest: Cl
Tami Loff, Secretary
2