Jo-Carroll Depot Local Redevelopment Authority

Finance & Personnel Committee

9:00 a.m., April 20, 2010

3651 Crim Drive, Suite 1

Savanna Depot Business, Industry & Technology Park

Savanna, IL

CALL TO ORDER: Mr. Olds called the meeting to order at 9:00 a.m. on Tuesday, April 20, 2010.

ROLL CALL was answered as follows: Present- Don Crawford, Bill Wright, Paul Hartman and Ed Olds. Present: 4. Absent: Bill Sparboe, 1. Other board members and staff present: Bill McFadden, Ron Smith, Diane Komiskey and Mara Roche. Guests: Tom Kamper (RVPR), Amiee Malon (RVPR), Bill Hooton (IITC).

Paul Hartman has replaced John Major.

Mr. Olds stated for the record that the LRA is currently working with a partial staff and are advertising for a part-time employee.

III: APPROVAL OF COMMITTEE MINUTES

A motion to recommend to the board approval of the regular and executive session Finance/Personnel Committee minutes from April 7, 2010 was made by Bill Wright, seconded by Don Crawford. The motion carried by voice vote.

IV: OLD BUSINESS

A. Cost-cutting measures – no update.

B. Part-time bookkeeper/secretary – The committee reviewed SOC information for Carroll and Jo Daviess counties and heard that several applications were received.

C. VISTA worker – no new information to report.

D. Platting 3A; 3B concept plan – The preliminary plat for 3A and concept map for 3B were reviewed. A motion to recommend to the full board to move ahead with the platting of 3A and concept plan of 3B to Carroll County was made by Bill Wright, seconded by Don Crawford. The motion carried by voice vote.

V: NEW BUSINESS

A. Use agreement requests

1. RESCAR – Bldg 402, salt storage. The committee reviewed an e-mail from Midwest 3PL regarding the use of Bldg 402 and directed staff to send a letter asking permission to use. Staff was also directed to contact the counties about contracting for salt.

2. HFPD – Bldg 229

A motion to recommend to the full board an extension of the RESCAR Use Agreement for Bldg 402, salt storage and grant a Use Agreement to HFPD for the use of Bldg 229 as requested was made by Don Crawford, seconded by Bill Wright. The motion carried by voice vote.

B. Outstanding invoices. All outstanding invoices were reviewed and staff was given direction on handling them. A motion to send final notice to Ritchie regarding no further late fee waiver was made by Bill Wright, seconded by Don Crawford. The motion carried by voice vote with Paul Hartman voting No.

C. Bank Account Balance – As of April 19, 2010, the Grand total of LRA money is $1,832,289.26. The committee discussed concerns about interest rates, number of banks providing quotes on CDs and related matters.

D. CD Transfers – A 12 month CD held at THE National Bank (#354805) and valued at $151,240.90 matured. A motion to recommend to the full board to approve moving the funds, which totaled $153,423.34 with interest, to a 6 month term (CD #401839, THE National Bank) at a rate of 1.35% APY was made by Bill Wright, seconded by Don Crawford. The motion carried by voice vote.

E. Bills over $2500 – none

F. Other – Discussed a request by Riverport Railroad for the extension of their use agreement for Bldg 1. The committee was also updated on status of Speer Enterprises proof of insurance. Staff was directed how to proceed.

VIII: PUBLIC COMMENT – None

IX: ADJOURNMENT

A motion to adjourn was made by Bill Wright, seconded by Paul Hartman at 9:53 a.m. The motion carried by voice vote.

Mara Roche, Acting LRA Secretary