President Louie Villella called the meeting to order at 7:30 a.m. at the Washburn County Economic Development Office-located at 208 Vine Street-Spooner, WI 54801
Present: Louie Villella, Rob Paine, Jim Bethel, Rob Lester, Greg Krantz, Lloyd Wallace, and Pete Paine.
Absent: Mark Krueger, Chuck Jenkins, Morris Gillett
Others Present: Margie Quinn, Dick Hartmann, and Steve Sather.
Concerned Citizens: None
Rob Paine made a motion to approve the agenda, Greg Krantz 2nd the motion. M.C. by unanimous vote.
Approval of meeting Minutes-Rob Lester made a motion to approve minutes from June 24, 2010. Jim Bethel 2nd the motion. M.C. by unanimous vote.
Treasurer’s Report by Jim Bethel-Jim read the monthly Treasurer’s report and reported on the monthly bills. The total expense for June/July was $3960.09 with additional taxes of $903.42. Checking account balance is $36234.58 and an additional $9137.90 in the CD account to be used for ½ marketing expenses, ½ for business plan development. Total available funds are $45,372.48 Jim Bethel made a motion to change the format at on the bottom of the Treasurer Report to read as follows, balance of checking account for the previous month, income for the present month, minus the expenses for the present month, Additional Withholding Taxes Due with the amount, and the final being the Ending Balance. Greg Krantz 2nd the motion. M.C. Marge Quinn has provided board members with a Treasurer Report, P& L report monthly and a balance detail from QB. Rob Paine made a motion to approve Treasurer Report and pay bills, 2nd by Pete Paine. M.C. by unanimous vote.
Directors Report was circulated to board members for review. The President Louie Villella asks Board members for questions or comments. Discussions were made. Board Members reminded Dick Hartmann again to contact the appropriate representative of each area should he have a business meeting in their area.
Discussions/Action on WCEDC and WCIDA Contract - President Louie Villella presented the contract proposal to WCEDC Members for EDC approval. Louie stated he attended the WCIDA meeting held in July and proposed $40,000.00 annually to cover Administrative fees for WCEDC staff. WCIDA Board agreed to contract with WCEDC in the amount of $40,000.00 annually from July 1, 2010 to June 30th, 2011. This amount was based on the outstanding loan amounts as a 2.88% percentage. WCIDA approved a percentage rate range that would be 2.75- 3.25 % of the outstanding loan balances for Administrative Fees. President Louie Villella has requested Marge and Dick to document EDC/WCIDA percentage and present to the WCIDA Board on a quarterly basis. Lloyd Wallace made a motion to accept the recommended contract for 2011 WCIDA/WCEDC and forward to WCIDA Board for review and approval. Rob Lester seconded the motion. M.C. by unanimous vote.
Discussions/Action on CD Designation- Pete Paine made a motion to designate the remainder of funds in the WCEDC CD to be used for Equipment, Web Site Marketing, Advertising, and Business Development
Lloyd Wallace 2nd the motion. M.C. by unanimous vote.
Pete Paine made a motion to have Director Dick Hartmann present to the board at the August meeting a suggestion for ideas or restructure fees for WCEDC Membership. Lloyd Wallace 2nd the motion. M.C. by unanimous vote.
Lloyd Wallace made a motion to move partial funds from CD to the proposed budget for 2011 in the line item of revenue to balance the 2011 proposed budget. Rob Paine 2nd the motion. Pete Paine opposed. M.C.
Discussions/Action on Preliminary Budget for 2011- The update of the preliminary budget for 2011 was circulated to Board members. Rob Paine made a motion to present the 2011 as proposed to Washburn County Finance Committee with the recommended changes. Greg Krantz 2nd the motion. M.C.
Greg Krantz made a motion to discontinue the WEDA Membership for 2011. Rob Paine 2nd the motion. M.C. by unanimous vote.
Next Monthly Meeting: Wednesday, August 18, 2010 at 730a.m. – Washburn County Economic Development Office located at 208 Vine Street, Spooner, WI 54801
Lloyd Wallace made a motion to adjourn, 2nd by Jim Bethel M.C. by unanimous vote.
Respectfully Submitted by,
Draft only! Board needs to approve at the August Meeting.