Jo-Carroll Depot Local Redevelopment Authority
Finance
& Personnel Committee
9:00
a.m., Tuesday, July 20, 2010
Savanna Depot Business, Industry &
Savanna, IL
I: CALL TO ORDER: Mr. Olds called the meeting to order at 9:00 a.m. on Tuesday, July 20, 2010.
II: ROLL
CALL was answered as follows: Present-
III:
APPROVAL OF MINUTES OF JUNE 15, 2010
A motion to approve the Finance/Personnel
Committee minutes from
June 15, 2010 was
made by
A motion to approve the
Finance/Personnel Committee Executive Session minutes from June 15, 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; grant paperwork has not been filed. Mr. Ed Olds will contact the grant writer for status.
B.
Parcel 3A Platting Update Further information is being gathered to
complete plat for submission to
C. Special reports, updates requested by committee - Banks pledged funds letters, a premium refund from the Broadmoor Insurance Agency were reviewed.
Bill Hooton (IITC)
arrived at 9:16a.m.
V: EXECUTIVE SESSION
A motion to enter into executive session at 9:17 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 member Bill McFadden and staff were present.
A motion to return to open session at 9:30 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 9:30 a.m.
VI: RECOMMENDATION FROM EXECUTIVE SESSION No actions taken.
VII: NEW BUSINESS
A. Discussion of Secretary Sharing with FTZ LRA will continue to provide the FTZ with a secretary for the time being.
Steve Keefer arrived.
B. Outstanding invoices, if any All outstanding invoices were reviewed. An update was requested at the next board meeting.
C. Funds on hand As of July 19, 2010 the grand total of LRA money was $1,780,132.44.
D. CD Transfers, if any A 6 month CD held at THE National Bank (#400769) and currently valued at $214,533.65 is due to mature on July 31, 2010. CD rate request letters were sent with only three banks responding. CD rates were reviewed.
A motion to recommend to the full board approval to roll CD #400769 currently held at THE National Bank into a 12 month CD at the rate of 1.65% APY was made by Bill Wright, seconded by Paul Hartman. The motion carried by voice vote.
E. Bills over $2,500, if any None
VIII: PUBLIC COMMENT Update on Executive Director, Diane Komiskeys condition was given.
IX: ADJOURNMENT
A motion to adjourn was made by Bill
Wright, seconded by
_____________________________
Jan Davis,
LRA Secretary