HomeMy WebLinkAboutJuly 24, 2012 JEFFERSONVILLE REVOLVING LOAN FUND COMMITTEE
REGULAR MEETING MINUTES
JULY 24, 2012
The Jeffersonville Revolving Loan Fund Committee held a Regular Meeting on July 24, 2012
that was called to order at 9:05 AM in the Mayor's Conference Room, located at 500
Quartermaster Court, Jeffersonville, Indiana.
The following board members were present: Jim Becker, Bill Keeney, Barry Cahill
Staff Members present: Rob Waiz, Les Merkley, DeLynn Rutherford, Kelly Reed
Board Members absent: LeAnne Scott, Don Allen
Approval of Agenda:
Mr. Cahill made a motion to approve the agenda with Mr. Keeney seconding the motion, passing
unanimously on a vote of 3 -0.
Officer Elections:
Mr. Keeney made a motion to nominate Dr. Becker for Chair, with Mr. Cahill seconding the
motion. Motion passed unanimously on a vote of 3 -0.
Mr. Keeney made a motion to nominate Ms. Scott for Vice Chair, with Mr. Cahill seconding the
motion. Motion passed unanimously on a vote of 3 -0.
Dr. Becker made a motion to nominate Mr. Allen as Secretary with Mr. Cahill seconding the
motion. Motion passed unanimously on a vote of 3 -0.
Mission Statement Review:
Mission Statement was presented for review. Mr. Cahill and Ms. Scott prepared the mission
statement with the main goal of the Restaurant Forgivable Loan Program to create foot traffic in
certain areas. The committee decided to review the statement and not take action at this meeting.
Program Guidelines and Procedures Review:
Committee decided that the guidelines should be refined to state that priority will be given to
restaurants locating in existing buildings. In addition, the boundaries of the restaurant grant will
be refined to focus on TIF districts.
Dr. Becker suggested that the committee review the program guidelines and procedures before
next meeting.
RESTAURANT GRANT APPLICATIONS:
Mike and Matt's:
Mike and Matt's Restaurant has requested $10,000 for exterior facade and $25,000 for interior.
This application was tabled until the next meeting when the applicant is in attendance.
Boardwalk Burgers:
Boardwalk Burgers requested $10,000 for the exterior facade and $25,000 for the interior for a
total of $35,000. Although the restaurant renovations have already been completed the
administration had been approached prior to renovations. Mr. Cahill made a motion make a
recommendation to the Redevelopment Commission for $15,000 with Dr. Becker seconding the
motion. Motion passed 2 -0 with Mr. Keeney abstaining. It is suggested that the loan be secured
through a second mortgage and a personal guarantee.
Big River Barbeque:
Big River Barbeque requested $50,000. Mr. Cahill recommends the committee obtain the
personal financial statements and money sources before making a decision. Application will be
tabled will more information is gathered.
Adjournment:
Meeting was adjourned at 10:45 AM.
Ji Becker, Chair