City of Wanamingo
Regular EDA Meeting
Monday January 8, 2024
6:00 P.M.
Wanamingo City Council Chambers
401 Main Street
Wanamingo MN
PRESENT: Annette Fritz, Brian Gudknecht, Rebecca Haugen, Ryan Holmes, Jim Kittelson, Laurie Musselman, and Josh Schaefer
ABSENT: None
ALSO PRESENT: Michael Boulton
Brian Gudknecht called the meeting to order at 6:00 p.m.
Pledge of Allegiance followed.
EDA Director Boulton administered the oath of office to Brian Gudknecht, Jim Kittelson, and Josh Schaefer for new four-year terms.
ADOPT AGENDA: Schaefer motioned, seconded by Fritz to adopt. Approved 7-0-0.
CONSENT AGENDA: Kittelson motioned, seconded by Musselman to approve. Approved 7-0-0.
PRESENTERS: NONE
NEW BUSINESS:
Resolution 24-01 - Election of 2024 EDA Board Officers of President, Vice President, Treasurer, and Secretary. Kittleson moved to approve, seconded by Haugen. Passed 7-0-0.
Resolution 24-02 = Approving re-appointment of Jim Kittelson, Brian Gudknecht, and Josh Schaefer to the EDA Board: Haugen moved to approve, seconded by Musselman. Boulton explained that the four-year terms of Kittelson, Gudknecht, and Schaefer had expired at the end of 2023. Holmes recommended each of their re-appointments to the EDA Board. Passed 7-0-0
Resolution 24-03 = Setting EDA Meeting Schedule for 2024: Fritz moved to approve, seconded by Kittelson. Boulton stated that the meeting dates are holding places and that meetings would only occur if an agenda packet was delivered by the Friday before the Monday meeting. Boulton stated that the EDA By-Laws requires the EDA to hold quarterly meetings, at minimum. Passed 7-0-0.
Resolution 24-04 – Approving Preliminary Development Agreement with the City of Wanamingo and First Link LLC (Dollar General): Kittelson moved to approve, seconded by Schaefer. Fritz asked if the costs were going to be filled in for the preliminary development agreement at a later date. Boulton explained that this is a preliminary development agreement. This preliminary development agreement lays the framework for a future development agreement. The development agreement will be finalized in May/June. This will occur when Dollar General formally purchases the land and the City has formalized bids for completing the improvements. Fritzed asked how many water/sewer connections would be installed and where. Boulton stated that water and service connections would be stubbed to the property line. Boulton stated that it has not been determined the number of connections that will be included. Kittelson stated that the water and service lines were installed behind the back of the curb so that when utilized the street does not need to be dug up. Gudknecht voiced concerns with timing of bidding for work. Gudknecht stated that waiting to bid until May/June may be too late for some contractors. Gudknecht stated that the City and City Engineer should be spreading the word regarding the work so that contractors keep the project and their radar. Gudknecht’s concerns are that contractor schedules may be filled up before bids are let. Theobald had shared with Boulton that there is limited bid work on the horizon for contractors. Theobald believes that contractors will be needing to bid work in spring to fill their 2024 schedules. Passed 7-0-0.
Administrator Boulton presented the 2023 Wanamingo Outstanding Indebtedness Report. The Wanamingo EDA paid $27,000 in principal in 2023 and owes $298,000 at the beginning of 2024. The City paid $609,000 in principal in 2023 and owes $5,066,000 at the beginning of 2024. Boulton stated that the current debt service is manageable with the interest rates associated with the existing bonds. Boulton stated that the City has roughly $130,000 of debt service capacity available for 2024 with additional capacity available in 2025 ($90,000), 2027 ($93,000), and 2028 ($53,000). The plan would be to issue new debt in the coming years to pay for infrastructure and equipment needs. Boulton stated that the City paid $636,000 in principle and roughly $123,420.95 in interest in 2023. The report will be submitted to Goodhue County next week, according to the MN State Statutes.
OLD BUSINESS:
There being no further business Schaefer made a motion seconded by Fritz to adjourn the EDA meeting at 6:15PM. Approved 7-0-0.
________________________ ______________________
Brian Gudknecht, President Michael Boulton, Director
