Our Agency

Iowa Economic Development Authority Board
Telephonic Meeting Minutes
June 19, 2020 9:15 a.m.

Board Members Present by telephone: Lisa Shimkat Tom Townsend Emily Schmitt Pankaj Monga Doane Chilcoat Jennifer Cooper Chris Murray Megan McKay Linda Crookham-Hansen Mark Kittrell

Ex-Officio Members Present by telephone: Rob Denson David Barker IEDA

Staff Present by telephone: Debi Durham Rita Grimm Rick Peterson Rob Christensen Vicky Clinkscales Lisa Connell Melissa Harshbarger Jill Lippincott Alaina Santizo Jessica O’Riley Melanie King Maicie Pohlman Kanan Kappelman Paul Stueckradt Katie Rockey Jenny Klein Emily Hawkins Staci Hupp Ballard

Others Present by telephone: Cindy Harris, Iowa Finance Authority

BOARD CHAIR
Welcome and Introductions
Iowa Economic Development Authority Board (IEDA) Chair Chris Murray called to order the meeting of the IEDA Board at 9:15 a.m.

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

Approval of Minutes – May 22, 2020 IEDA Board Meeting
MOTION: Emily Schmitt moved that the IEDA Board approve the minutes of the May 22, 2020 IEDA Board meeting, seconded by Mark Kittrell. Motion carried unanimously.

Approval of Agenda – June 19, 2020 IEDA Board Meeting
MOTION: Lisa Shimkat moved that the IEDA Board approve the agenda for the June 19, 2020 IEDA Board meeting, seconded by Tom Townsend. Motion carried unanimously.

PUBLIC COMMENT PERIOD: No comments were made.

CONSENT AGENDA COMPLIANCE
120 Day Report
Arconic, Inc. – 90-day extension
Fidelity & Guaranty Life Business – 90-day extension
Helena Industries – 60-day extension
Lopez Foods, Inc. – 90-day extension
Timken Drives, LLC – 60-day extension
Worley Warehousing – 90-day extension
Wright Service Corp. – 60-day extension

REQUESTS FOR AMENDMENTS
Worley Warehousing, Inc.: Cedar Rapids – Request to Revise Contract
Keokuk Mills, LLC: Keokuk – Request to Amend the Contract
KLM Acquisition dba Aluma Ltd – Request to Extend Project Completion Date

MOTION: Megan McKay moved that the Iowa Economic Development Authority Board accept the recommendations of the DDC regarding the items on the Consent Agenda, seconded by Linda Crookham-Hansen. Motion carried unanimously.

FINANCIAL ASSISTANCE APPLICATION
Meridian Clinical Research, LLC: Sioux City
MOTION: Mark Kittrell moved that the Iowa Economic Development Authority Board accept the recommendation of the DDC to award a maximum of $154,608 in Targeted Jobs Withholding Credit, seconded by Linda Crookham-Hansen. Roll Call vote was taken. Motion carried unanimously.

INNOVATION FUND INVESTMENT TAX CREDIT PROGRAM
MOTION: Mark Kittrell moved that the Iowa Economic Development Authority Board approve application for issuance of one tax credit certificate, seconded by Megan McKay. Motion carried unanimously. IOWA

INNOVATION COUNCIL MEMBER REAPPOINTMENTS
MOTION: Doane Chilcoat moved that the Iowa Economic Development Authority Board approve the recommendation by the IIC Executive Committee to reappoint the six members with the term ending April 30, 2022, seconded by Emily Schmitt. Motion carried unanimously.

VENDOR AND CONTRACT AMOUNT APPROVAL
Community Development – Disaster Recovery
MOTION: Emily Schmitt moved that the Iowa Economic Development Authority Board approve entering into contracts with BNIM for a maximum of $638,999 and the Cloudburst Group for a maximum of $63,379, seconded Megan McKay. Motion carried unanimously.

Miscellaneous Vendors
MOTION: Linda Crookham-Hansen moved that the Iowa Economic Development Authority Board approve entering into one-year contracts with OCO Global for a maximum of $129,000; Tractus Asia, Ltd. for a maximum of $251,325; Orissa International for a maximum of $91,800; Covered Bridge Consulting, LLC for a maximum of $84,000; and LS2 Group for a maximum of $5,250,000, seconded by Lisa Shimkat. Motion carried unanimously.

ALLOCATION OF FY21 TAX CREDIT CAP
MOTION: Doane Chilcoat moved that the Iowa Economic Development Authority Board approve allocations of tax credit limits as follows: High Quality Jobs - the maximum of $100,000,000; Workforce Housing - the maximum of $25,000,000; Brownfield Redevelopment - the maximum of $10,000,000; Renewable Chemical Production Tax Credit - the maximum of $10,000,000; and Innovation Fund - the maximum of $10,000,000, seconded by Emily Schmitt. Motion carried unanimously.

OTHER BUSINESS
The next IEDA Board meeting will be held via Teams on Friday, July 17, 2020 at 9:15 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 Doane Chilcoat. Motion carried unanimously. Meeting adjourned at 10:08 a.m.

Melanie King, Board Administrator; Chris Murray, IEDA Board Chair