Our Agency

Iowa Economic Development Authority Board

Meeting Minutes

June 21, 2019

9:30 a.m.

Board Members Present:
Emily Schmitt	Tom Townsend	Doane Chilcoat	Lisa Shimkat
Jennifer Cooper	Lisa Hull	Chris Murray	Megan McKay
Mark Kittrell
Ex-Officio Members Present:
Representative Brian Lohse	David Barker	Senator Mark Lofgren	Representative Kenan Judge
IEDA Staff Present:
Rita Grimm	Terry Roberson	Katie Rockey	Vicky Clinkscales
Alaina Santizo	Kristin Hanks-Bents	Melanie King	Maicie Pohlman
Jacque Matsen	Paul Stueckradt	Jessica O’Riley
Others Present:
Dan McDonald, Greater Dubuque Development		Steve Shupp, Alliant Energy
Ron Robinson, LSA		Dustin Ingram, Ames Chamber of Commerce

Board chair:

• Welcome and Introductions

Board Chair Chris Murray called to order the meeting of the Iowa Economic Development Authority Board at 9:31 a.m.

• Roll Call

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

Ex-officio present: David Barker, Kenan Judge, Brian Lohse and Mark Lofgren

Approval of Minutes – May 17, 2019 IEDA Board Meeting

MOTION: Doane Chilcoat moved that the IEDA Board approve the minutes of the May 17, 2019 IEDA Board meeting, seconded by Emily Schmitt. Motion carried unanimously.

Approval of Agenda – June 21, 2019 IEDA Board Meeting

MOTION: Mark Kittrell moved that the IEDA Board approve the agenda of the June 21, 2019 IEDA Board meeting, seconded by Doane Chilcoat. Motion carried unanimously.

Public Comment Period:  No comments were made.

Compliance

120 Day Report

Carlson Life Support dba Cobham Mission Systems: 30-day extension

ReadiFuels-Iowa LLC: 60-day extension

Vertex Software, LLC: 30-day extension

Sammons Financial Group – 30-day extension

Winnebago Industries, Inc.: 60-day extension

MOTION: Megan McKay moved that the Iowa Economic Development Authority Board approve extensions of the contract execution deadlines as recommended by Staff, seconded by Lisa Shimkat. Motion carried unanimously.

Compliance Report

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

MOTION:  Emily Schmitt moved that the Iowa Economic Development Authority Board approve a two-month extension of the Project Completion Date to April 30, 2019, seconded by Megan McKay.  Motion carried unanimously.

Rockfarm Holdings, Inc.: Dubuque - Request to Extend Project Completion Date

MOTION:  Mark Kittrell moved that the Iowa Economic Development Authority Board approve the request for a twelve-month extension of the Project Completion Date to February 28, 2020, seconded by Tom Townsend.  Motion carried unanimously.

Financial Assistance Applications

T.C. and B. Corporate Wearables, Inc.:  Perry

MOTION: Mark Kittrell moved that the Iowa Economic Development Authority Board approve awarding a maximum of $24,000 in Investment Tax Credits and a maximum of $32,250 in Sales, Service and Use Tax Refund, seconded by Lisa Shimkat. Roll Call was taken. Motion carried unanimously.

Traffix Devices, Inc. / Kulp Fairfield Iowa Partners, LLC:  Fairfield

MOTION: Lisa Hull moved that the Iowa Economic Development Authority Board approve awarding a maximum of $95,125 in Investment Tax Credits and a maximum of $51,788 in Sales, Service and Use Tax Refund, seconded by Emily Schmitt. Roll Call vote was taken, with Lisa Hull unable to vote because her call dropped due to a storm in her area.  The Board therefore took a second vote:

MOTION: Doane Chilcoat moved that the Iowa Economic Development Authority Board approve awarding to Traffix Devices, Inc. / Kulp Fairfield Iowa Partners, LLC a maximum of $95,125 in Investment Tax Credits and a maximum of $51,788 in Sales, Service and Use Tax Refund, seconded by Tom Townsend. Roll Call vote was taken. Motion carried unanimously.

STRATEGIC INFRASTRUCTURE PROGRAM

MOTION:  Doane Chilcoat moved that the Iowa Economic Development Authority Board approve the request of the University of Iowa for a 12-month, no cost contract extension to May 31, 2020, retroactive to May 31, 2019, seconded by Mark Kittrell.  Motion carried unanimously.

INNOVATION FUND INVESTMENT TAX CREDIT PROGRAM

MOTION:  Doane Chilcoat moved that the Iowa Economic Development Authority Board approve issuance of 6 tax credit certificates, seconded by Megan McKay.  Motion carried unanimously.

VENDOR AND CONTRACT MAXIMUM APPROVAL

MOTION:  Mark Kittrell moved that the Iowa Economic Development Authority Board approve a contract with LS2 for a maximum of $5.2 million, seconded by Megan McKay.  Motion carried unanimously.

           

Other Business

The next IEDA Board meeting will be held on Friday, August 16, 2019 at 9:30 a.m.

Adjournment

There being no further business at the meeting of the Iowa Economic Development Authority Board,

MOTION: Emily Schmitt moved that the IEDA Board adjourn, seconded by Tom Townsend. Motion carried unanimously. Meeting adjourned at 10:30 a.m.

Melanie King                                                   Chris Murray

Board Administrator                                        Board Chair