Jo-Carroll Depot Local Redevelopment Authority

Finance & Personnel Committee

9:45 a.m., Tuesday, August 17, 2010

3651 Crim Drive, Suite 1

Savanna Depot Business, Industry & Technology Park

Savanna, IL

I: CALL TO ORDER: Chairman Ed Olds called the meeting to order at

10:30 a.m. on Tuesday, August 17, 2010.

II: ROLL CALL was answered as follows: Present- Don Crawford, Paul Hartman, Ed Olds, and Bill Wright. Present: 4. Absent: Bill Sparboe. Absent: 1. Other board members and staff present: Bill McFadden, Ron Smith and Jan Davis. Guests: Ole Pace (RVPR). Chairman Ed Olds instructed LRA staff to send a letter to the county informing them of the vacancy created by the passing of Bill Sparboe.

III: APPROVAL OF MINUTES OF JULY 20, 2010

A motion to approve the Finance/Personnel Committee minutes from

July 20, 2010 was made by Bill Wright, seconded by Don Crawford. The motion carried by voice vote.

A motion to approve the Finance/Personnel Committee Executive Session minutes from July 20, 2010 was made by Bill Wright, seconded by Don Crawford. The motion carried by voice vote.

IV: OLD BUSINESS

A. CDAP Grant for Barracks Buildings – Update given; Mr. Ed Olds contacted the grant writer, Sharon Pepin for status. She informed him that monies are still available, and she will get paperwork done as soon as possible.

B. Parcel 3A Platting Update – Mr. Bill McFadden reported that Julie Yuswak of the Carroll County Zoning Board has the plats, Highway Committee has approved the plat, and we need to get a $300 check to the Carroll County Zoning Department. If the fees are waived, our check will be returned.

C. Special reports, updates requested by committee – THE National Bank’s pledge receipt and Citizens State Bank’s Pledged Fund letter were reviewed. LRA staff will contact THE National Bank for further clarification.

V: EXECUTIVE SESSION

A motion to enter into executive session at 10:40 a.m. as permitted for the following under:

5 ILCS 120/2 (c)(1) the appointment, employment, compensation, discipline, performance or dismissal of specific employees of the public body or legal counsel for the public body, including hearing testimony on a complaint lodged against an employee of the public body or against legal counsel for the public body to determine its validity

was made by Bill Wright, seconded by Don Crawford. The motion carried by roll call vote as follows: Don Crawford, Paul Hartman, Ed Olds and Bill Wright. Ayes: 4, Nays: 0

All guests were excused. Board members Bill McFadden, Ron Smith and staff were present.

A motion to return to open session at 10:49 a.m. was made by Don Crawford, seconded by Paul Hartman. The motion carried by roll call vote as follows: Don Crawford, Paul Hartman, Ed Olds and Bill Wright. Ayes: 4, Nays: 0.

Guests returned to open session at 10:49 a.m.

VI: RECOMMENDATION FROM EXECUTIVE SESSION – No actions taken.

VII: NEW BUSINESS

A. Outstanding invoices, if any - All outstanding invoices were reviewed.

1. Discussions regarding the performance of Carson’s Mowing Service took place.

B. Funds on hand – As of August 16, 2010 the grand total of LRA money was

$1,773,993.19.

C. CD Transfers, if any – A 12 month CD held at the Mount Carroll Banking Center (#150017) and currently valued at $155,010.98 matured on August 14, 2010. CD rate request letters were sent with only three banks responding; two banks provided rates, third bank declined, as this would take them over their pledging. CD rates were reviewed. Mr. Ed Olds and LRA staff will call banks for rates.

D. Bills over $2,500, if any – None

Jennifer Phillips (Speer Enterprises) arrived at 10:58 a.m.

VIII: PUBLIC COMMENT – Update on Executive Director, Diane Komiskey’s physical condition was given.

IX: ADJOURNMENT

A motion to adjourn was made by Bill Wright, seconded by Paul Hartman at 11:01 a.m. The motion carried by voice vote.

_____________________________

Jan Davis, LRA Secretary