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IEDA Board Minutes - December 2019

Iowa Economic Development Authority

Board of Directors Meeting Minutes

December 20, 2019

9:30 a.m.

Board Members Present:

Jennifer Cooper

Lisa Crookham-Hansen

Mark Kittrell

Megan McKay

Lisa Shimkat

Doane Chilcoat

Pankaj Monga

Tom Townsend

Emily Schmitt

Chris Murray

Ex-Officio Members Present:

Rob Denson

David Barker

Mark Lofgren

IEDA Staff Present:

Debi Durham

Rita Grimm

Rick Peterson

Rob Christensen

Terry Roberson

Lisa Connell

Melissa Harshbarger

Jill Lippincott

Alaina Santizo

Jessica O’Riley

Melanie King

Maicie Pohlman

Kanan Kappelman

Paul Stueckradt

Katie Rockey

Jenny Klein

Vicky Clinkscales

Gail Kotval

Matt Rasmussen

Others Present:

David Becker, Cottingham & Butler

Mike Coyle, Heartland Financial

Rick Dickenson, Greater Dubuque Development

David Maahs, Greater Des Moines Partnership

Tim Leach, Greater Des Moines Partnership

Kathy Bolten, Business Record

Aaron DeJong, Urbandale

Austin Page, WHO-TV

Mark Fairley, IFA

Brittany Lumley, LS2

Tyler Jett, Des Moines Register

Jake Jamison, Dwolla

Brooke Quinn, Dwolla

Matthew Peirce, Iowa CCI

Board chair

  • Welcome and Introductions

Iowa Economic Development Authority Board Chair Chris Murray called to order the meeting of the IEDA Board at 9:48 a.m.

  • Roll Call

A quorum of the Board was established with the following Board members present: Jennifer Cooper, Mark Kittrell, Chris Murray, Linda Crookham-Hansen, Megan McKay, Doane Chilcoat, Emily Schmitt, Tom Townsend, Lisa Shimkat and Pankaj Monga

Ex-officio members present: Rob Denson, David Barker and Mark Lofgren

Approval of Minutes – November 22, 2019 IEDA Board Meeting

MOTION: Linda Crookham-Hansen moved that the Iowa Economic Development Authority Board approve the minutes of the November 22, 2019 IEDA Board meeting, seconded by Jennifer Cooper. Motion carried unanimously.

Approval of Agenda – December 20, 2019 IEDA Board Meeting

MOTION: Lisa Shimkat moved that the Iowa Economic Development Authority Board approve the agenda for the December 20, 2019 IEDA Board meeting, seconded by Doane Chilcoat. Motion carried unanimously.

Public Comment PeriodNo comments were made.

Compliance

Compliance Report

Apple Inc.: Waukee – Request to Extend Project Completion Date

MOTION:  Linda Crookham-Hansen moved that the Iowa Economic Development Authority Board accept the recommendation of the DDC to approve the request to extend the Project Completion Date to August 31, 2027, seconded by Tom Townsend.  Motion carried unanimously.

RMA Armament, Inc.: Centerville – Request to Extend Project Completion Date

MOTION:  Linda Crookham-Hansen moved that the Iowa Economic Development Authority Board accept the recommendation of the DDC to approve the request to extend the Project Completion Date by 12 months, seconded by Lisa Shimkat.  Motion carried unanimously.

Board member Jennifer Cooper disclosed a conflict of interest matter regarding Krause Holdings, Inc. and Affiliates that necessitates recusal.  See the attachment.  She left the meeting at 9:53 a.m.

Krause Holdings, Inc. and Affiliates: Des Moines – Request to Extend Project Completion Date and Update Name of Contracting Entity

MOTIONLinda Crookham-Hansen moved that the Economic Development Authority Board accept the recommendation of the DDC to approve the request to extend the Project Completion Date by 12 months and to amend the contract to provide that the recipient is Krause Group, Ltd., seconded by Tom Townsend.  Motion carried unanimously.

Ms. Cooper returned to the meeting at 9:54 a.m.

Financial Assistance Application

Cottingham & Butler Insurance Services, Inc. and Roshek Property, LLC: Dubuque

MOTION: Megan McKay moved that the Iowa Economic Development Authority Board approve the recommendation of the DDC to award a maximum of $390,000 in Investment Tax Credits and a maximum of $48,000 in Sales Tax Refund, seconded by Tom Townsend. Roll Call vote was taken. Motion carried unanimously.

Heartland Financial USA, Inc., Dubuque Bank and Trust Company, and Roshek Property, LLC: Dubuque

MOTION: Megan McKay moved that the Iowa Economic Development Authority Board approve the recommendation by the DDC to award a maximum of $425,000 in Investment Tax Credits and a maximum of $60,000 in Sales, Service and Use Tax Refund for its project in Dubuque, seconded by Doane Chilcoat. Roll Call vote was taken. Motion carried unanimously.

                Lopez Foods, Inc.: Cherokee

MOTION: Jennifer Cooper moved that the Iowa Economic Development Authority Board approve the recommendation of the DDC to award a maximum of  $855,000 in Sales Tax Refund, $1 million in Investment Tax Credits, and a $500,000 forgivable loan, contingent on application sponsorship and local match by the City of Cherokee, seconded by Lisa Shimkat. Roll Call vote was taken. Motion carried unanimously.

Fidelity & Guaranty Life Business Services, Inc. and Fidelity & Guaranty Life Insurance Company: Des Moines

MOTION: Linda Crookham-Hansen moved that the Iowa Economic Development Authority Board approve the recommendation by the DDC to award a maximum of $155,563 in Investment Tax Credits and a maximum of $71,915 in Sales Tax Refund, contingent on application sponsorship by the City of Des Moines, seconded by Doane Chilcoat.  Motion carried unanimously.

AMENDMENTS TO RULES

  1. Welcome Center Program, Chapter 34

MOTION:  Lisa Shimkat moved that the Iowa Economic Development Authority Board approve filing Notice of Intended Action for Welcome Center Rules, Chapter 34, seconded by Doane Chilcoat.  Motion carried unanimously. 

Community Catalyst Remediation Program, Chapter 45

MOTION: Megan McKay moved that the Iowa Economic Development Authority Board approve filing Notice of Intended Action for Amendments to Community Catalyst Remediation Program Rules, Chapter 45, seconded by Jennifer Cooper.  Motion carried unanimously.

Workforce Housing Tax Incentives Program, Chapter 48

MOTION: Lisa Shimkat moved that the Iowa Economic Development Authority Board approve filing Notice of Intended Action for Amendments to Workforce Housing Tax Incentives Program Rules, 261 Administrative Code Chapter 48, seconded by Doane Chilcoat.  Motion carried unanimously.

References to the Iowa Innovation Corporation, Chapters 1, 101, 102, 106 and 108

MOTION:  Lisa Shimkat moved that the Iowa Economic Development Authority Board approve filing Notice of Intended Action for Amendments to 261 IAC Chapters 1, 101, 102, 106 and 108, seconded by Doane Chilcoat.  Motion carried unanimously.

  1. Adopt Amendments – Targeted Jobs Withholding Tax Credit Program, Chapter 71

MOTION:  Tom Townsend moved that the Iowa Economic Development Authority Board approve to Adopt Amendment to Targeted Jobs Withholding Tax Credit Program Rules, 261 Iowa Administrative Code, Chapter 71, seconded by Doane Chilcoat.  Motion carried unanimously.

innovation fund tax credit

motion:  Lisa Shimkat moved that the Iowa Economic Development Authority Board approve the Application for Issuance of 1 Tax Credit Certificate, seconded by Doane Chilcoat.  Motion carried unanimously.

PUBLIC COMMENT

Approximately 15 representatives of Iowa Citizens for Community Improvement entered at 10:19 a.m.  All representatives who wished to provide public comment and/or make inquiries regarding Prestage Foods of Iowa’s project at Eagle Grove were allowed to do so.  Director Durham and members of staff responded to the comments and questions.  The representatives exited the meeting at 10:31 a.m.

VENDOR AND CONTRACT MAXIMUM APPROVAL

MOTION: Doane Chilcoat moved that the Iowa Economic Development Authority Board approve the request to approve entering into a contract with TEConomy Partners LLC to pay the business a maximum of $196,900 for services related to development of an Iowa Manufacture 4.0 plan, seconded by Lisa Shimkat.  Motion carried unanimously.

Other Business

The next DDC meeting will be held on Friday, January 17, 2020 at 9 a.m. at 1963 Bell Avenue, Des Moines, IA 50315.

Adjournment

There being no further business at the meeting of the IEDA Board,

MOTION: Tom Townsend moved that the IEDA Board adjourn, seconded by Jennifer Cooper. Motion carried unanimously. Meeting adjourned at 10:43 a.m.

Melanie King                                                       Chris Murray

Board Administrator                                         IEDA Board Chair

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