MINUTES EDA 08.18.20 - Laserfiche WebLink

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MINUTES FOR THE EDA MEETING OF AUGUST 18, 2020 Meeting held remotely pursuant Minn. Stat. Sec. 1313.021 Chair Weidt called the meeting to order at 5:37 pm. PRESENT: Gallivan, Klein, Petty, Puleo, and Weidt. ABSENT: Denaway, Houle. STAFF: Bryan Bear, City Administrator Rachel Juba, Community Development Director Emily Weber, Community Development Assistant APPROVAL OF MINUTES FOR THE EDA MEETING OF JUNE 16. 2020 Commissioner Klein made a motion, Commissioner Klein seconded, to approve minutes for the EDA meeting of June 16, 2020. Ayes: Gallivan, Klein, Petty, Puleo, and Weidt. Nay: None. Motion Carried. CARES ACT BACKGROUND Staff provided the EDA with an update on the CARES Act funding available to the City. The background included financial assistance programs that have been available to local businesses and what type of program the EDA could offer to local businesses. The EDA discussed what type of businesses in Hugo could apply to the proposed grant program and what application materials would need to be submitted. The EDA generally agreed that there were already resources available, however, it could reach more businesses if a local grant program was created. Staff stated that the proposed grant program would need to have funds spent by November 15, 2020. Weidt made a motion to direct staff to create a grant program for local, private or nonprofit businesses that generate under $3.5 million in annual revenue, which allows them to apply for individual grants for up to $10,000. Seconded by Petty. Ayes: Gallivan, Klein, Petty, Puleo, and Weidt. Nay: None. Motion Carried. UPDATE ON DOWNTOWN REDEVELOPMENT Community Development Director, Rachel Juba, provided an update on development in the City. The Hugo Gardens Apartments have applied for their final plat and Schwieters was approved for their 4tn addition on their campus development in the Bald Eagle Industrial Park. The City has terminated the Option Agreement with Tony Harmening that was for the City -owned property along Egg Lake. Harmening can come back to the EDA to request another Option Agreement at a later date.