MERAMEC REGIONAL DEVELOPMENT CORPORATION

NOTE: This MRDC board meeting will begin at 11:00 a.m.  Board members who are not able to attend at this time are still encouraged to join the board after that time to assist with the items on the agenda.

NOTICE OF MEETING AND AGENDA

May 17, 2007

11:00 a.m.

The Meramec Regional Development Corporation Board of Directors will meet at 11 a.m. on Thursday, May 15, 2007 in the large conference room at MRPC, #4 Industrial Dr., St. James, MO.  A light catered lunch will be served. All board members are encouraged to attend as everyone’s input is valued, and it’s important that all member counties are well-represented. Please RSVP by contacting Maria Kardon at 573-265-2993 or mkardon@meramecregion.org so that proper arrangements can be made for lunch.

MEETING AGENDA

  1. Call to Order:  Tom Klebba, Vice-President

  2. Open Session

  3. Adjournment from Open Session to Closed Session

  4. Closed Session:  A closed session may be needed to review a loan request or a particular servicing issue that includes confidential and sensitive information. Because this review will contain sensitive financial and personal information, the board may request a closed session under RSMo 610.021(14).
    1. Loan Review: Ava Taco Bell
    2. Loan Review: Cowtown USA, LLC
    3. Collateral Update for Honse’s Café and Convenience Store
    4. Changes to IRP and RLF loan amounts for Lakeview Restaurant and Lounge

  1.  Adjourn from Closed Session to Open Session

  2. Review and Approval of Minutes:  Minutes from the full board meeting on March 15, 2007, minutes from the Loan Review committee meeting on April 25, 2007 and the Partner of the Year committee meeting on April 9, 2007. Board Action is required.

  3. Financial Report:  Reports for fiscal year 2006/2007 for the period 7/1/06 through 4/30/07 will be presented by Cheryl Dupes, Fiscal Department.   Reports and budget proposals will be presented on SBA, RLF and IRP loan programs.  Board Action is required for SBA financial report and budget only.

  4. New Business:
    1. Proposal for changes to the RLF Plan and Policies:  Updated recommendations for the RLF plan and policies to be presented to the full board per EDA.  Final draft of RLF plan is pending until final approval from EDA. Board Action is required.
    2. Loan Servicing Update:  Maria Kardon will update the board on all loans for the SBA 504, RLF and IRP loan portfolios.  In addition, an update on privacy issues between private lenders, borrowers and MRDC will be made from the last MRDC meeting on March 15, 2007. Report Only – No Board Action Required.
    3. Board Resignations and Nominations:  George Gruendel and Larry Salveter have contacted MRPC of their resignation from the MRDC board.  MRPC approved the following nominations: Gerry Lewis, Pulaski County; Jerry Wolfe, Osage County; Scott Schulz, Dent County. Board Action is required.
    4. Technical Services Contract: Board to approve the technical services contract between MRDC and Key Largo Tanning and Fitness, LLC/Ron and Melanie Karrick for SBA 504 Loan. Board Action is required
    5. Renewal Contract for Professional Services: MRDC contracts with MRPC for professional services. A copy of this contract is included for your review prior to the meeting. Board Action is required.
    6. EDA-Revolving Loan Fund Semi-Annual Report: Board will be presented with a summary of the RLF semi-annual report that was submitted to EDA for the period ending March 31, 2007.  Report Only.

  5. Comments for the Good of Order

    1. Candace Connell will present on MRDC loan programs during the Ike Skelton Satellite Procurement Conference to be held in St. Robert on May 30, 2007.

  6. Meeting Adjournment