WEBVTT

METADATA
Video-Count: 1
Video-1: youtube.com/watch?v=Lkbw5F8cO3A

Part: 1

1
00:04:38.560 --> 00:04:52.280
Good morning. It is 8:00 a.m. on Tuesday, June 9th, 2026. I call this meeting of the New Ulm Economic Development Authority meeting to order. The first item of business is the roll call, and we do have a quorum present.

2
00:04:52.280 --> 00:05:13.120
Item 2.1, EDA May 12th, 2026 minutes. >> I'll offer a motion to approve the EDA May 12th, 2026 minutes. >> Second. >> We have a motion and a second. Any further [clears throat] discussion? All in favor, say aye. Aye. Opposed? Motion carries. Item 3.1, Administrative

3
00:05:13.120 --> 00:05:28.320
Activities Report. >> Good morning, Madam President, Commissioners. Uh you have the report in your packet. I'll just go through a few things with you. Um note under the Section 8 report, we have completed our annual waiting list

4
00:05:28.320 --> 00:05:45.160
purge. Um we do that every year in May. Um not a lot of changes to the waiting list for that program. Um after that was completed. Um note under the public housing program, um again, that waiting list was purged as

5
00:05:45.160 --> 00:06:00.720
well. Um so, those numbers did go down um, through that process. Just wanted to give you an update on the five, um, capital improvement projects that we have approved, um, the attic insulation project was

6
00:06:00.720 --> 00:06:17.400
completed at all 10 family unit rental houses. And, [clears throat] um, the interior painting project was completed at Broadway House Apartments. Um, in progress are the common area flooring replacement and parking lot

7
00:06:17.400 --> 00:06:34.960
seal coat projects at Broadway House. Um, and then the fifth project is, um, on the um, family unit rental houses, um, to do some improvements on the gutters. That project, um, has not been scheduled yet.

8
00:06:35.040 --> 00:06:50.440
Um, note on the homebuyer assistance loan program, one loan closed in the amount of $9,750, [snorts] and three new applications were received. Um, and then note under the multi-family

9
00:06:50.440 --> 00:07:09.040
rental rehab loan program, one loan closed in the amount of $50,000. So, that fund is out of money for the remainder of the year. End of report. >> I'll motion to accept the administrative activity report for the month of May

10
00:07:09.040 --> 00:07:24.600
2026. >> Second. >> We have a motion and a second. Any further discussion? >> Um, >> Favor say aye. >> Aye. >> Aye. >> Opposed? Motion carries. Item 4.1, public housing operating budget. >> All right, Madam President,

11
00:07:24.600 --> 00:07:40.880
Commissioners, um, the public housing operating budget covers our day-to-day operations of the EDA's 50 public housing units. Um, 40 of those units are at Broadway House Apartments, and then we have 10 scattered site family rental

12
00:07:40.880 --> 00:07:55.960
family unit rental houses, um throughout New Ulm. Uh the operating budget is for the upcoming fiscal year beginning July 1st through June 30th of 2027. And that must be approved and submitted

13
00:07:55.960 --> 00:08:12.520
to HUD prior to the new fiscal year. We [clears throat] work with our fee accountancy neighbor to assemble the budget into the proper HUD format. Um capital funds are not included in the operating budget. Those are are kept separate um from the day-to-day

14
00:08:12.520 --> 00:08:29.960
operations. Um the proposed budget is a status quo compared to the current fiscal year. Um currently in our current fiscal year through the month of May, um we are in a deficit of just under $34,000.

15
00:08:29.960 --> 00:08:46.440
The projected surplus for the upcoming budget is about $46,000. Um I will note that although we are in a deficit this year, we are intending to draw down um the remainder of our 2024 capital funds

16
00:08:46.440 --> 00:09:00.960
into our operating budget and that's about um just under $24,000. So, that'll help offset some of the losses that we've seen this year. So, we'll [clears throat] you know, really we're in about a $10,000 deficit, but that money won't be

17
00:09:00.960 --> 00:09:18.121
drawn down until the next fiscal year once all of our projects are completed. Um so, that's really all I had to mention on that. I'm happy to answer any questions. >> [clears throat]

18
00:09:21.280 --> 00:09:39.400
>> Why is the salary vary so much from year to year under the administration? >> Um I noticed that too and I don't know if that's because we've not always had the maintenance position filled. Um so, that could be

19
00:09:39.400 --> 00:09:59.320
part of it. Um, it could be that I'm not putting as many of my hours into public housing as I used to in the past. Um So I would say that's You know wages typically are the largest part of

20
00:09:59.320 --> 00:10:31.800
a budget, so any variations can really um skew those numbers. >> Um, the other income is just much higher. Do you know why you budget >> That That includes that drawdown of the capital funds. >> Commissioners, any other questions? I'd already asked mine before.

21
00:10:31.800 --> 00:10:48.600
>> Yes. >> I guess if there's no additional questions, I will offer a resolution adopting the public housing operating budget for the fiscal year ending June 30th, 2027. >> Second. >> We have a resolution and a second. Any further discussion?

22
00:10:48.600 --> 00:11:05.839
Director Brechtl, please call the roll. >> Commissioner Christian >> Yes. >> Commissioner Reinhardt Kalk >> Yes. >> Commissioner Becker >> Yes. >> Commissioner Lieb >> Yes. >> President Markgraff >> Yes. Motion carries. Uh 4.2 EDA June 9th, 2026 claims list.

23
00:11:14.120 --> 00:11:31.000
>> Um, I just uh wanted to mention um under city of New Ulm, the May expenses were a little higher than normal because we did have three um paydays during the month of May. Um, and then also there is a capital fund expenditure on here of about $9,900

24
00:11:31.000 --> 00:11:55.040
for the painting project. And then that will be drawn down from capital funds. So, although the total claims is higher than normal, about 10,000 is coming back when I draw down that capital fund payment. >> I'll make a motion to approve the EDA

25
00:11:55.040 --> 00:12:13.480
June 9th, 2026 claims list. >> Second. >> We have a motion and a second. Any further discussion? All in favor, say I. >> I. >> Opposed? Motion carries. Item 5.1, economic economic development activity report.

26
00:12:13.480 --> 00:12:29.760
>> All right, uh commissioners and Madam President, I just wanted to note that the um five small business incentive grants were paid out during the month of May. Um so, that's been completed, and um that will be our final um round of awards now that that

27
00:12:29.760 --> 00:12:47.600
program's been discontinued. Um other than that, there isn't much to report for the month. >> For the partnership, how's it going with everybody making visits? >> Um I know that we've all

28
00:12:47.600 --> 00:13:03.760
been making visits. Um it's hit and miss on how many we can get done each month, depending on the responses we get from the businesses we reach out to to try to set up appointments. Um but we have all been working on them. I don't know if we're all on track. This

29
00:13:03.760 --> 00:13:25.440
I know I'm not. I've fallen behind, but um I know Steve's gotten some done, and I know Sarah's been working on hers as well. >> Who were all the small business grants again? I saw one of them, but >> Um yeah, I haven't done all the social media posts on those yet. I've been

30
00:13:25.440 --> 00:13:39.680
incredibly busy, so I'm behind on that as well. So the first one was Oh gosh, am I going to say it right? Tienda Latina something the um Mexican grocery store down by the Papa

31
00:13:39.680 --> 00:13:58.040
Murphy's strip mall. Um Fusion Bar and Grill received a grant. Soda Street Studios received a grant. >> 86 >> There was a uh childcare provider

32
00:13:58.040 --> 00:14:18.320
Um oh Thank you. Refer to my report. Oh and then that um yeah so some of these are under their LLC name so you're not going to recognize them. So um Salon Mulan is Benny's

33
00:14:18.320 --> 00:14:44.400
restaurant downtown. And I believe the Valley is um the Fusion. restaurant and bar. >> Okay. >> No other questions. I'll motion to accept the accept the economic development activity report for May 2026

34
00:14:44.400 --> 00:14:59.080
activities. >> Second. >> We have a motion and a second. Any further discussion or questions? All in favor say I. >> I. >> I. >> Opposed? Motion carries. There being no further items on the agenda, this meeting is adjourned.

35
00:14:59.080 --> 00:15:04.120
We will meet in a few minutes for our work session.