Meramec Community Enhancement Corporation
Minutes
March 13, 2007

  1. Call to Order:

John Petersen, President, called the March 13 meeting of the Meramec Community Enhancement Corporation to order at 11:55 a.m.

  1. Approval of minutes from December 12, 2006 meeting:

Russell Scheulen made a motion to approve the December 12, 2006 MCEC minutes.   Ed Mitchell seconded the motion. Motion passed.

  1. Approval of Financials:

Linda Loughridge presented: Revenues and Expenditures, Balance Sheet, Capitalized Assets, all ending Feb. 2007.  She also presented the Revised Budget for July 1, 2006 through June 30, 2007 and the Homeownership Program Budget for 2006-2007.

Bill Ransdall made a motion to approve the financial statements as presented. Larry Stratman seconded the motion. Motion passed.

Larry Stratman made a motion to approve the revised budget as presented. Darrell Skiles seconded the motion. Motion passed.
           

  1. Business:
    1. Federal Home Loan Bank:  Bonnie Prigge presented information of programs available through the FHLB. FHLB Des Moines is a wholesale cooperative bank that provides low-cost short and long-term funding and community lending to more than 1,200 members. It is one of 12 regional banks that make up the FHLB system. MRPC submitted two applications for FHLB Affordable Housing Program grants. These projects will rehabilitate two senior citizen housing developments, improving roofs, windows, doors, sidewalks, etc.
      • Leasburg—for $374,000
      • Cuba—for $481,000
    2. Transit Issues:  Connie Willman presented information about the Ft. Leonard Wood Transit service for residents in Rolla and Sullivan.  USA Express is working with personnel at the Fort to be able to give the federal subsidy to the people that are working at the Fort. April 1 is the anticipated start date.
    3. Staff Reports:  Amy McMillen was introduced to the Board as a new employee. Amy is filling Kelly’s position and will be doing applications. Amy is currently working on three NAP applications—one for St. James Caring Center, one for Eden Heritage/Maries Manor and one for Dixon Area Caring Center. After these three applications are submitted, she will begin working on a NAP application for MCEC for the Homeownership program.

    Connie presented information on the Homeownership Program for Chuck Cantrell, housing inspector. Two houses are in inventory: 209 W. Madison in Owensville and 204 Maple Shade in Cuba.
     
    A work day was held Feb. 27th at the Cuba house. Community Service workers and students from UMR were there to assist with repairs. Interior painting and yard work was done. Another work day is scheduled for April 7th.

    Floor coverings have been installed in the Owensville house. MHDC has allowed MCEC to use the State Median income guidelines for qualifying a buyer for purchase of this house. This will allow a family with a higher income to be able to purchase the home, increasing the probability of sale.

    Lesley Bennish presented information on MHDC 2007 HOME Repair Program. The 2007 grant was for $150,000 for this year. Approximately nine homes will be repaired. Currently, one home is almost complete and two homes are under construction. Two more are in the bidding phase and should begin construction in the next few weeks.

    1. Next meeting: June 12, 2007
    2. Adjournment:
      There being no further discussion, the meeting adjourned at 12:45 p.m.

Approved by Board ________________________, 2007

__________________________
President