HomeMy WebLinkAboutSeptember 5, 2012 JEFFERSONVILLE REVOLVIONG LOAN FUND COMMITTEE
REGULAR MEETING MINUTES
SEPTEMBER 5, 2012
The Jeffersonville Revolving Loan Fund Committee held a Regular Meeting on September 5,
2012 that was called to order at 11:44 AM in the Mayor's Conference Room, located at 500
Quartermaster Court, Jeffersonville, Indiana.
The following board members were present: LeAnne Scott, Bill Keeney, Barry Cahill
Staff Members present: Rob Waiz, Les Merkley, Monica Harmon, DeLynn Rutherford, Kelly
Reed
Board Members absent: Jim Becker, Don Allen
Guests present: Kate Caufield, Mike Shartzer, Melissa
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.
Consent Reports:
Mr. Cahill made a motion to approve the minutes with Mr. Keeney seconding the motion.
Motion passed on a vote of 3 -0.
Big River Barbeque — Restaurant Grant Application:
Big River Barbeque requested $50,000. The restaurant is looking to locate downtown and would
obtain financing through the restaurant forgivable loan as well as through a bank loan. More
information was requested from the applicant including 3 years of personal tax returns, a credit
report, personal financial statement, terms of the bank loan, and the type of collateral that would
be used. In addition, the committee requested that the owners begin the liquor license process.
The item was tabled until the requested items are received.
Mike and Matt's — Restaurant Grant Application:
Mike and Matt's Restaurant requested $10,000 for exterior facade and $25,000 for interior. It
was disclosed to the committee that Mayor Mike Moore and Mike Shartzer recently entered into
a private business agreement that does not involve the City or Mike and Matt's Restaurant, and
that this relationship have no effect on the committee's decision on this matter. Mr. Keeney
made a motion to approve the request subject to receiving 3 years personal tax returns, and
income statements from July and August 2012. The forgivable loan will be supported by a
personal guarantee and a first lien on equipment, subject to the committee receiving a list of the
equipment owned. Mr. Cahill seconded the motion. Motion passed 3 -0.
Mission Statement Review:
This item was tabled until the next meeting.
Program Guidelines and Procedures Review:
This item was tabled until the next meeting.
Adjournment:
Meeting was adjourned at 1:25 PM.
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Ji Becker, Chair