HomeMy WebLinkAboutOCTOBER 18, 2016 Jeffersonville Revolving Loan Fund Committee
10.18.16 MEETING MINUTES
The Jeffersonville Revolving Loan Fund Committee held a Regular Meeting on October 18`h, 2016 that was called to
order at 12:03 p.m. in the Mayor's Conference Room, located at 500 Quartermaster Court, Jeffersonville, Indiana.
CALL TO ORDER
12:02 p.m. by Jim Becker
ROLL CALL
Committee Members
Jim Becker, Barry Cahill, Bill Keeney& LeAnne Scott
Staff Members
Rob Waiz, Delynn Rutherford,Janet Mayrose &Conner Richardson (Intern)
Guests
Brandon Denton of Denton Floyd Real Estate Group & Paul Wheatley of the Wheatley Group
APPROVAL OF AGENDA
Mr. Cahill made a motion to approve the agenda as printed. Mr. Keeney seconded the motion. Motion passed 4-0.
CONSENT REPORTS
Approval of 03.09.16 Meeting Minutes
Mr. Cahill made a motion to approve the minutes from the 03.09.16 meeting. Ms. Scott seconded the motion.
Motion passed 4-0.
OLD BUSINESS
None
NEW BUSINESS
Brandon Denton of Denton Floyd Real Estate Group submitted two separate applications for the Restaurant Forgivable
Loan Program. Parlour ((People + Pizza + Pints) at 131 West Chestnut and Portage House at 117 E Riverside Drive. The
loan requests were for $50,000 per restaurant. Denton Floyd is working with Republic Bank on financing on the
Riverside Drive restaurant and with South Central Bank on financing for the West Chestnut restaurant. Mr. Denton
explained that Denton Floyd will be putting 1.2 million dollars in to both of these locations. The properties will have the
same ownership, yet will be two different LLC's.
After thorough review of the documentation submitted, discussion amongst the board and further discussion with Mr.
Denton of Denton Floyd, Mr. Keeney made a motion to approve a recommendation to the Redevelopment Commission
for a $25,000 Restaurant Forgivable Loan for Portage and a $25,000 Restaurant Forgivable Loan for Parlour. The motion
was seconded by Barry Cahill. Motion passed 4-0.
Adjournment
Mr. Cahill made a motion to adjourn at 12:51PM with Ms. Scott seconding. Meeting adjourned.
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Submitted by: Janet L. Moyrose