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IEDA Board Minutes - October 2020

Iowa Economic Development Authority Telephonic, Teams and In-person Board Meeting Meeting Minutes
October 16, 2020
9:15 a.m.
 
 
Board Members Present by telephone, via Teams or in-person:
Chris Murray, Board Chair Lisa Shimkat* Emily Schmitt Pankaj Monga
Thomas Townsend Jennifer Cooper Megan McKay Linda Crookham-Hansen
Doane Chilcoat Lisa Hull
 
Ex-Officio Members Present by telephone or via Teams:
Representative Brian Lohse         David Barker** Rob Denson       Senator Mark Lofgren
 
IEDA Staff Present by telephone, via Teams or in-person*:
Debi Durham Rita Grimm* Rick Peterson* Staci Hupp Ballard
Vicky Clinkscales Lisa Connell Emily Hockins Peggy Kerr
Alaina Santizo Rob Christensen* Betty Hessing* Melissa Harshbarger
Kanan Kappelman Paul Stueckradt Katie Rockey Terry Roberson
Matt Rasmussen
 
Others Present by telephone or via Teams:
Cindy Harris, Iowa Finance Authority
Rick Dickinson, Greater Dubuque Development Corporation Mike Swesey, Greater Des Moines Partnership
Jessica Flannery, House Democratic Caucus Staff Sue Foecke, Senate Democratic Caucus Staff
Andrew Anderson, Faegre Drinker Biddle & Rather LLP Mike Lukan, Cedar Rapids Metro Economic Alliance Kate Robertson, Benton Development Group
Nick Glew, Marion Economic Development Corporation
 
 
BOARD CHAIR
Welcome
Iowa Economic Development Authority Board Chair Chris Murray called to order the meeting of the IEDA Board at 9:27 a.m.
Roll Call and Introductions
A quorum of the IEDA Board was established with the following Board members present: Chris Murray, Megan McKay, Jennifer Cooper, Linda Crookham-Hansen, Emily Schmitt, Pankaj Monga, Thomas Townsend, Doane Chilcoat, Lisa Hull and Lisa Shimkat
Ex-officio members present: David Barker and Rob Denson
 
Approval of Minutes – September 18, 2020 IEDA Board Meeting
MOTION: Lisa Shimkat moved that the IEDA Board approve the minutes of the September 18, 2020 IEDA Board meeting, seconded by Emily Schmitt. Motion carried unanimously.
 
*Participated in-person
**Joined at 9:50 a.m.
 
Approval of Agenda – October 16, 2020 IEDA Board Meeting
MOTION: Lisa Shimkat moved that the IEDA Board approve the agenda for the October 16, 2020 IEDA Board meeting, seconded by Linda Crookham-Hansen. Motion carried unanimously.
 
PUBLIC COMMENT PERIOD: No comments.
 
COMPLIANCE - CONSENT AGENDA
120 Day Report
Compliance Report
Accordia Life & Annuity Company and Global Atlantic Financial Company – Request to Extend Project Completion Date.
Edge BCC, LCC & LightEdge Solutions, Inc. – Request for Contract Termination.
Midland National Life Insurance Company and North American Company for Life and Health Insurance – Request to Amend Budget and Tax Incentives.
POET Project Liberty, LLC – Request for Negotiated Settlement.
POET-DSM Marketing, LLC – Request for Contract Termination.
MOTION: Lisa Shimkat moved that the Iowa Economic Development Authority Board accept the recommendations of the DDC regarding Items A and B on the Consent Agenda, seconded by Jennifer Cooper. Motion carried unanimously.
 
FINANCIAL ASSISTANCE APPLICATIONS
Electrical Power Products, Inc. and Electro Management Corp.: Des Moines
MOTION: Linda Crookham-Hansen moved that the Iowa Economic Development Authority Board accept the recommendation of the DDC to award a maximum of $108,669 in Investment Tax Credits and a maximum of $135,978 in Sales, Service and Use Tax Refund for a total of $244,647, seconded by Lisa Hull. Roll Call vote was taken. Motion carried unanimously.
 
Frontier Natural Products Co-op: Benton County
MOTION: Lisa Hull moved that the Iowa Economic Development Authority Board accept the recommendation of the DDC to award a maximum of $147,387 in Investment Tax Credits and a maximum of $153,075 in Sales, Service and Use Tax Refund for a total of $300,462, seconded by Linda Crookham-Hansen. Roll Call vote was taken. Motion carried unanimously.
 
Emily Schmitt disclosed a conflict of interest that necessitated recusal from consideration of and action on the request for assistance by Sukup Manufacturing Company. See the attached email exchange. She left the meeting at 9:36 a.m.
 
Sukup Manufacturing Co.: Worth County
MOTION: Jennifer Cooper moved that the Iowa Economic Development Authority Board accept the recommendation of the DDC to award a maximum of $141,984 in Investment Tax Credits and a maximum of $23,250 in Sales, Service and Use Tax Refund for a total of $165,234, seconded by Linda Crookham-Hansen. Roll Call vote was taken. Motion carried unanimously.
 
Emily Schmitt returned to the meeting at 9:38 a.m.
 
AMENDMENTS TO RULES
Adoption of New Chapter 14 in Administrative Rules – Iowa Code Section 15C.2 Future Ready Iowa Expanded Registered Apprenticeship Opportunities Program and Amendments to Chapters 12
and 13
MOTION: Lisa Shimkat moved that the Iowa Economic Development Authority Board approve filing Notice of Intended Action for New Chapter of Rules – Expanded Registered Apprenticeship Opportunities Program – and Amendments to 261 IAC Chapters 12 and 13, seconded by Emily Schmitt. Motion carried unanimously.
 
BROWNFIELD/GRAYFIELD REDEVELOPMENT TAX CREDIT PROGRAM
Contract 19-BTC-03 – Ryan Companies US, Inc.
MOTION: Emily Schmitt moved that the Iowa Economic Development Authority Board
approve assignment of Contract 19-BTC-03 to “Broad and Main 7 LC” and “Uptown Holdings, LLC”,
seconded by Linda Crookham-Hansen. Motion carried unanimously.
 
Contract 20-BTC-02 – Landover Corporation
MOTION: Lisa Shimkat moved that the Iowa Economic Development Authority Board approve assignment of Contract 20-BTC-02 to “Marshalltown Lofts, LLC”, seconded by Linda Crookham- Hansen. Motion carried unanimously.
 
Contract 20-BTC-20 – Oxobow Group
MOTION: Megan McKay moved that the Iowa Economic Development Authority Board approve assignment of Contract 20-BTC-20 to “Green Park Apartment Living, LLC”, seconded by Linda Crookham-Hansen. Motion carried unanimously.
 
FY21 Program Recommendations
MOTION: Emily Schmitt moved that the Iowa Economic Development Authority Board
approve the Brownfield Advisory Council’s FY 2021 Recommendations for Funding, seconded by Jennifer Cooper. Motion carried unanimously.
 
INNOVATION FUND INVESTMENT TAX CREDIT PROGRAM
MOTION: Linda Crookham-Hansen moved that the Iowa Economic Development Authority Board approve applications for issuance of 5 Tax Credit Certificates, seconded by Jennifer Cooper. Motion carried unanimously.
 
CONTRACT AMENDMENT – VENDOR SUBSTITUTION
MOTION: Emily Schmitt moved that the Iowa Economic Development Authority Board approve amending the contract to substitute International Experts BMT Mexico SC dba Global BMT for OCO Global as the contracting entity, seconded by Linda Crookham-Hansen. Motion carried unanimously.
 
ANGEL INVESTOR TAX CREDIT PROGRAM
MOTION: Megan McKay moved that the Iowa Economic Development Authority Board approve issuance of 110 Tax Credit Certificates and deny applications submitted by 2 ineligible applicants, seconded by Lisa Shimkat. Motion carried unanimously.
 
VENDOR APPROVAL
MOTION: Lisa Shimkat moved that the Iowa Economic Development Authority Board approve amending the LS2 Group contract to increase the maximum amount to be paid under the contract by
$1M, seconded by Jennifer Cooper. Motion carried unanimously.
 
OTHER BUSINESS
The next IEDA Board meeting will be held on Friday, November 20, 2020 at 9:15 a.m.
 
ADJOURNMENT
There being no further business at the meeting of the Iowa Economic Development Authority Board, MOTION: Linda Crookham-Hansen moved that the IEDA Board adjourn, seconded by Lisa Shimkat. Motion carried unanimously. Meeting adjourned at 10:25 a.m.
 
 
Betty Hessing     Chris Murray
Interim Board Administrator       IEDA Board Chair
 
Betty Hessing

 
From: Sent: To: Emily Schmitt <eschmitt@sukup.com> Wednesday, October 7, 2020 9:43 AM Rita Grimm
Betty Hessing; Megan McKay; Chris Murray RE: [EXT!] Recusal

Thank you and acknowledged.
 
Emily Schmi tt, Esq.
General Counsel
Sukup Manufacturing Co.
 
T: 641-892-4222, Ext. 2372           eschmitt@sukup.com  www.sukup.com
1555 255th St ? Sheffield, Iowa 50475 -0677 ? F: 641-892-4629
 
From: Rita Grimm [mailto:Rita.Grimm@lowaEDA.com]
Sent: Wednesday, October 7, 2020 9:35 AM
To: Emily Schmitt <eschmitt@sukup.com>
Cc: Betty Hessing <Betty.Hessing@lowaEDA.com>; Megan McKay <Megan.McKay@lowaEDA.com>; Chris Murray
<Chris.Murray@lowaEDA.com>
Subject: [EXT!] Recusal
 
Emily:
The Sukup app is on this month's agenda. Please attend the meetings but, because of your interest in the business, you must recuse yourself from discussion and the vote on the application . On the DDC agenda, the businesses are listed twice, once before the inquiry as to whether any board member requests that the DDC go into closed session and again after inquiry/possible motion and vote. It will be last on  the list of  projects  before  the  "closed session  break"  and first on the list of projects after the inquiry/motion and vote, if needed.  You will drop off Teams when the Project comes up on the DDC agenda and I'll text you when you can rejoin via Teams after the vote on the Project application. You will not be present if there is a motion and a vote to go into closed session, nor will you be present for discussion and vote on the Project. At the Board meeting, the Sukup project will again be last on the list of projects. You will drop off the call when it comes up on the agenda and I'll text when it's time to rejoin.

Please acknowledge this email. The string will be attached to the minutes. See you on the 16th via Teams!
 
Rita C. Grimm I Chief Legal Counsel

IOWA  FINANCE/· UI - 0   I I · 
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PH: 515.348.6142
CELL: 515 897-8413
FAX : 877-631-7575

Rita.Grimm@lowaEDA.com
iowaeconomicdevelopment.com
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