City of Red Bud Economic Development Commission met Oct. 25.
Here is the minutes provided by the Commission:
Committee Members Present:Clem Esker, Warren Frank, Dan Koenigstein, Mike Reed, Orvel Cox, Larry Ingalls, Clem Esker, Stuart Langrehr, Rodney Nevois
Committee Members Absent:Jon Tallman, Butch Stellhorn, Shane Watson
Others Present:Chris Martin, Pam Poetker
Committee Chairman Esker called the meeting to order at 6:00 p.m.
I. Review of Financial Reports
Warren Snover is two payments late on his loan to the extent of approximately $16,000
All other loans are current within 30 days.
II. DCEO Loan Program Update
The state of Illinois has frozen the CDAP Revolving Loan Program. The freeze comes after a HUD audit conducted by the Federal Government determined that the State of Illinois along with the majority of other states that participate in the program failed to comply with the terms and conditions of the program. In short, the State of Illinois was not properly managing the program and was instructed by HUD to hire a consulting agency to draft a corrective action proposal. The proposal that has been submitted to HUD would result in DCEO using a formula to determine an amount of grant money that would be allocated to each participating community based on the success of the program. The grant funds would then be awarded to the communities for two projects that meet CDBG guidelines. The grant timeline would begin January, 2018 and would go through December 2020. Following the award of grant funds, the program would be eliminated.
Committee members will be notified once additional information is received.
III. G & S Property Update
There is a contract on the building. It is a company in the fertilizer industry. They are currently working on permits needed and no closing date has been set.
IV. John and Angela Wilson Loan Application
Commission Members were provided with a copy of the loan application. Pam Poetker informed the commission members that she did explain the Revolving Loan Fund issue with Mr. Wilson when he dropped off the application. Some discussion among commission members was held. Pam will reach out to the Wilsons to verify eligibility and creation of jobs for the money requested. The commission will be updated with the information once available.
V. East Industrial Park
a. Lot Sales
Mike Moll has purchased the remaining two lots in the East Industrial Park. Lot 8 has already closed, and Lot 12A is in the process.
b. Property Acquisition
The City of Red Bud is in the process of acquiring 50 acres to the East and from the Guebert family and 5 acres to the East from the Voges family for the expansion of the East Industrial Park. The money will be paid for across four years and will be developed in phases.
VI. Microloan Program Updates
There have been two successful loans made from the Microloan Program. A loan was made to KRPD in the amount of $45,000 and a loan was made to V8 Resto in the amount of $40,000. The City of Red Bud was successful in collecting the entire $40,000 worth of grant money that was awarded to us several years ago from Rural Development. A final report will be filed with them to close-out the grant. There is currently $5,000 remaining in that program for a local business in need.
VII. Public Comments/Anything for the Good of the City
Norm Roy and Weir Parts Center will be hosting a grand opening celebration on Friday, November 10, 2017. Commission members and their spouses are invited to attend. Please RSVP to Pam as soon as possible. A copy of the invitation of the details will be emailed out to the group.
Chris Martin mentioned that Randolph County is currently working on the bridge project along with the four lane highway project.
Mike Reed made mention of a flyer that had been provided by Jon Tallman for an upcoming Rotary event.
With there being no further business, the meeting was adjourned at 6:59 P.M.
https://www.cityofredbud.org/meeting-information.html
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