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EDA MINUTES February 12, 2018 DRAFT 1 DATE : February 12, 2018 TIME STARTED : 6:15 p.m. TIME ENDED : 6:25 p.m. MEMBERS PRESENT : EDA Members Kusterman, Reinert, Rafferty, Maher, Manthey MEMBERS ABSENT : None OTHERS PRESENT: : Community Development Director Michael Grochala; City Clerk Julie Bartell The meeting was called to order at 6:15 p.m. by EDA President Rafferty. CONSIDERATION OF THE MINUTES OF DECEMBER 11, 2017 Economic Development Authority (EDA) Member Reinert moved to approve the December 11, 2017 minutes as presented. EDA Member Manthey seconded the motion. Motion carried on a voice vote; EDA Member Stoesz abstained from voting. ACTION ITEMS A. Consideration of 2018 Annual Appointments – Community Development Director Grochala reviewed the written report. The council had reviewed appointment at their work session on February 5. The following appointments were approved: President – Michael Manthey Vice President- Melissa Maher Treasurer – Dale Stoesz Appointments for the remaining positions were approved as indicated on the submitted staff report. EDA Member Maher moved to approve the annual appointments as presented. EDA Member Manthey seconded the motion. Motion carried on a voice vote; EDA Member Stoesz abstained from voting, noting his affiliation with US Bank, a depository listed. B. Consider Resolution No. 18-01, Approving Assignment of Contract for Private Development and TIF Note – Community Development Director Grochala recalled the 2016 EDA action entering into a contract relative to construction of a facility in the city by United Properties. There was a property acquisition and the acquirer is working on financing. The financer is calling for this assignment of collateral. This action has been reviewed and approved by the EDA’s bond counsel. EDA Member Maher moved to approve Resolution No. 18-01 as presented. EDA Member Reinert seconded the motion. Motion carried on a voice vote. C. 2017 Annual Report – Community Development Director Grochala explained that the EDA is required to do an annual recap of its activities. He reviewed the written annual report.