President Chuck Jenkins called the Monthly meeting to order 735am at the Washburn County Economic Development office located at 208 Vine Street, Spooner, WI.


Present: Chuck Jenkins, Ken Schultz, Morris Gillett, Jim Bethel, Bill Marx, Skip Fiedler and Mike Bobin.


Absent: Rob Lester, Rob Paine, and Lloyd Wallace


Others Present:  Margie Quinn, and Greg Krantz


Concerned Citizens:  None


Approval of Agenda- Ken Schultz made a motion to approve the monthly agenda, Skip Fiedler 2nd the motion.  M.C. by unanimous vote.


Approval of Meeting Minutes of January 16, 2012

Minutes of the previous meeting January 16, 2012 were circulated. Skip Fiedler made a motion to approve the minutes, Jim Bethel 2nd the motion.  M.C.  by unanimous vote. 


Treasurer’s Report by Jim Bethel – Jim Bethel read the monthly Treasurer’s report. Jim B. reported on the monthly bills.  The total expense for Jan/Feb were 16405.59 with a big portion of this as the annual rent for the office space, leaving a checking account balance of $58427.22 and an additional $9492.68 in the CD account to be used for ½ marketing expenses, ½ for business plan development, and 501 (c) (3) expenses to the IRS and Anderson Hager and Moe.   RMAP fund is in the amount of $7680.13.  WCEDC made first payment to Rural Development on the RMAP Loan for EDC in the amount of $199.07/mo starting December 31st, 2012. Technical Assistance in the amount of $14685.50, and Loan Loss Reserve at $1750.00.  Total available funds are $92,035.53.   Marge Quinn has provided board members with a Treasurer Report, P&L monthly and a balance detail from QB.  Mike Bobin made a motion to accept the Treasurer Report and pay bills, 2nd by Skip Fiedler.  M.C.  by unanimous vote.


Director’s Report- Greg Krantz

Greg circulated a Director’s report.  Greg stated he will be attending a seminar in Rice Lake next week to learn some of the SBA requirements for lending.  Greg also stated Marge and Greg participated in a very good interview with Diane Dryden from the Shell Lake Register.   Greg updated Board Members stated he is working on a few new loans at this time that are pending. Bill Marx has requested Greg to go visit the bowling Alley under new owner, and offer any assistance we may give to them.  Discussions were made on data base for Commercial Land and building available in WC.   Ken Schultz approved Director’s report, 2nd by Jim Bethel.  M.C.  by unanimous vote.


Ken Schultz made a motion to convene in closed pursuant to 19.85 (1) (F), WI statues to discuss financials of specific persons, which if discussed in public would likely to have a substantial adverse effect upon the reputation of any person, referred to in such data.  Mike Bobin 2nd the motion.  M.C. by unanimous vote. 

Margie Quinn and Greg Krantz were invited to stay in closed sessions by Board Members.


Roll Call was taken by Marge Quinn


Motion to reconvene in open session by Mike Bobin, 2nd by Skip Fiedler.  M.C. 


Mike Bobin made a motion to sign subordination agreement with Community Bank of Spooner for RMAP Loan with WCEDC, Skip Fiedler 2nd the motion.  Jim Bethel opposes.  M.C. 


President Jenkins commented on the Retail Analysis Beverly Stencel completed.  It is a very good information piece for WC residents. 


Other Concerns: 


Agenda items for March Meeting - WCEDC – to be determined


Next Monthly Meeting:  Meeting March 20, 2013 at 730a.m. – (to be determined on agenda items) Washburn County Economic Development Office located at 208 Vine Street, Spooner, WI 54801


Ken Schultz made a motion to adjourn, 2nd by Bill Marx.  M.C. by unanimous vote.


Draft only!  Board needs to approve at the March Meeting.    Respectfully Submitted by Margie Quinn