HomeMy WebLinkAboutHEDRA Minutes - 2022.07.14HEDRA
HASTINGS ECONOMIC DEVELOPMENT and
REDEVELOPMENT AUTHORITY
The Hastings Economic Development and Redevelopment Authority of the City of
Hastings, Minnesota met in a regular meeting on Thursday, July 14th, 2022 at 6:00
p.m. at Hastings City Hall.
HEDRA Commissioners Present: Goblirsch, Sinclair, Vaughan, and Johnson
HEDRA Commissioners Absent: Horsch, Braucks, and Anderson
Staff Present: Community Development Director John Hinzman
Economic Development Coordinator Eric Maass
I. Quorum
A quorum was established and the meeting was called to order by President
Goblirsch at 6:00 PM with four members present.
A. Oath of Office: HEDRA Commissioner Ben Anderson - Oath of Office will
be administered at the August meeting.
II. Minutes
Motion made by Commissioner Sinclair and seconded by Commissioner Johnson to
approve the minutes from the June 7th 2022 Regular Meeting Ayes 4; Nays 0. Motion
approved.
III. Bills
Hinzman summarized the bills. Motion made by Commissioner Vaughan and seconded by
Commissioner Johnson to approve the bills. Ayes 4; Nays 0. Motion approved.
IV. Business
A. Authorize Signature of Brokerage Agreement for Shovel Ready Development Site.
Presentation by Maass.
• 55-acre development site in business park. Proposed agreement would be
18-month partnership with 6-month check-ins. Rokos Advisers would get
a 3% commission on a successful sale of the property paid by the buyer.
• Commissioners discussed work needed to be done, ideas for marketing
land, and what the we may expect for development. Approved 3-1
(Johnson nay) as presented.
B. Consider Rescinding “Land for A Dollar” Incentive Program - Presentation by
Maass.
• Program started in 2002, is it still successful in the current market?
• No action requested at this time.
• Commissioners discussed the value of the marketing of the program in
developing business park land and how removal may influence future
sales. Talked about using the program when it makes the most sense
incentive before versus incentive after development. Discussed if
HEDRA keeps giving away land how will they continue to reinvest in
future projects. What type of businesses does this deal attract?
C. Consider Revisions to Interest Rate of HEDRA’s Revolving Loan Program -
Presentation by Maass.
• Fixed prime rate at application with availability to lower for hitting
benchmarks over 5 years. Approved 4-0 with limited discussion.
V. Reports and Information
A. Downtown Update on Downtown Property and Entrepreneurial Assessment
Surveys and Downtown Incubator Plan –
a. Maass provided an update on the survey and plans for a potential future
incubator. 22 properties that responded had not had any vacancies in two
years. Lots of positive feedback from recent HEDRA programs.
b. 3 respondents expressed interest in a brick and mortar location
c. Doffing Fund provided $15,000 to support the business incubation plan.
d. Incubation Applications to be reviewed at October meeting.
e. Discussion on involving the rest of the community, and additional
services offered by the incubator.
B. Development Updates - Hinzman provided an update of recent development.
a. Fleet Farm visit. Moving along nicely.
b. Lake Isabel Flats is closed on.
c. Intek Plastics – public hearing July 29th
d. Caribou at Coborn’s
e. KFC site plan is approved
f. Enclave Apartments construction begins in August
g. Vermillion Acres – demolition is done, construction of 75 units is
commencing.
h. The Quill looking to open in Fall
i. Jersey Mikes to open in September
VI. Adjourn
A. Adjourned the meeting at 7:00 p.m. Motion made by Commissioner Sinclair
and seconded by Commissioner Johnson to adjourn the meeting. Motion passed 4-
0. Meeting adjourned.
Next Meeting: August 11th, 2022
https://www.youtube.com/watc
h?v=fRCMW6DkP8w
Respectively Submitted:
Lindsay Anderson