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HomeMy WebLinkAbout2024-06-18 EDA Minutes - Approved CITY OF CENTERVILLE ECONOMIC DEVELOPMENT AUTHORITY MEETING MEETINGS June 18, 2024 5:30 p.m. Pursuant to due call and notice thereof, the City of Centerville held a regularly scheduled Economic Development Authority meeting on June 18, 2024. MEETING APPROVED I. CALL TO ORDER The meeting was called to order at approximately 5:30 p.m. by President Remillard. II. ROLL CALL President Remillard called the roll. PRESENT: President Mark Remillard Vice-President Chris Swenson Councilmember Darrin Mosher Commissioner Raye Taylor Commissioner Smith ABSENT: Councilmember Raye Taylor STAFF: Assistant City Administrator/EDA Executive Director, Athanasia Lewis III. APPROVAL OF AGENDA 1. Call for Changes to the Agenda There were no revisions to the agenda. Motion by Commissioner Swenson, seconded by Commissioner Mosher to approve the agenda. All in favor. Motion carried. IV. APPROVAL OF MINUTES The minutes were approved as presented. Motion by Commissioner Mosher and seconded by Commissioner Swenson to approve the June 18, 2024, meeting minutes. All in favor. Motion carried. V. BILLS AND COMMUNICATIONS City of Centerville EDA Meeting Minutes June 18, 2024 1. Bills a. Check List Executive Director Lewis reviewed the bills as presented in the packet. Motion by Commissioner Swenson and seconded by Commissioner Smith to approve the bills. All in favor. Motion carried. 2. Communications a. None VI. PRESENTATION a. None VII. REPORTS 1. Partner Agency Reports a. Anoka County Regional Economic Development (ACRED) Executive Director Lewis reviewed the report as presented in the packet. 2. Year to Date Financials Executive Director Lewis reviewed the financial report as presented in the packet. Discussion ensued about where to code the $637 shown in the Advertising and Printing line item since this expenditure was swag for the Business Appreciation event. The consensus was to move this expenditure to the Appreciation and Events line item. Discussion also ensued about reporting for the opportunity fund line item. Motion by President Remillard and seconded by Councilmember Mosher to approve the financial report with moving the $637 to the Appreciation and Events line item and enhanced reporting on the Opportunity Fund line item. All in favor. Motion carried. 3. Ongoing Programs: Executive Director Lewis reviewed the Ongoing Programs report as presented in the packet. 4. Administrator’s Report Executive Director Lewis reviewed the Administrator’s Report as presented in the packet. VIII. OLD BUSINESS 1. 2025 EDA Budget Executive Director Lewis introduced the item as presented in the packet. Discussion ensued about the revisions to the proposed budget (increase to professional services in the amount of $1,500 for a presentation from our finance consultant and decrease of opportunity fund by $5,000). Discussion ensued about the use of funds to pay for a TIF 101 presentation, and the consensus was to have the City’s Finance Director and/or Administrator provide needed information on TIF, but to keep the $1,500 in the budget. Discussion ensued about EDA powers and goals for the next year and the consensus is to focus on learning more about TIF (understanding pros and cons), as well 2 City of Centerville EDA Meeting Minutes June 18, 2024 as learning more about other financial incentives, such as bonds, etc. Discussion also ensued about the benefit(s) of having an EDA, such as owning and selling real estate, providing incentives, etc. There was also discussion about earmarking $10,000 in the Opportunity fund for Revolving Loan and Grant Façade program. Discussion ensued about further defining the use of opportunity fund dollars and adding $7,500 carryover balance from 2024. Revisions to the budget consist of:  The added $1,500 to professional services  Moving the $10,000 for the HRA (loan and grant program) to be earmarked as part of the Opportunity Fund  Total Opportunity Fund of $15,000 (with $10,000 earmarked).  Including $7,500 carryover balance from 2024 Motion by Commissioner Smith and seconded by Commissioner Swenson to recommend to council approval of the revised 2025 budget. All in favor. Motion carried. IX. NEW BUSINESS 1. None X. ADJOURNMENT Motion by Commissioner Swenson, seconded by Commissioner Smith to adjourn the June 18, 2024, Economic Development Authority meeting at 6:53 p.m. All in favor. Motion carried. 3