MERAMEC REGIONAL DEVELOPMENT CORPORATION
NOTICE OF MEETING AND AGENDA
January 16, 2008
12:00 p.m.
The Meramec Regional Development Corporation Board of Directors will meet at 12 p.m. on Wednesday, January 16, 2008 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
Call to Order: Tom Klebba, President
New Board Members: Tom Klebba will welcome new board member: Leonard Armstrong of Crawford County.
Review and Approval of Minutes: Minutes from the full board meeting on November 14, 2007 and the loan review meetings on November 21, 26, and December 19, 2007 will be reviewed.
Board action is required.
Financial Reports: Cheryl Dupes, Fiscal Department, will present reports for the fiscal year 2007-08 for the period 7/1/07 through 12/31/07 and the revised budgets for the SBA, RLF and IRP programs.
Board action is required for SBA financial reports and SBA budget
Revision only.
New Business:
Loan Servicing Update: Maria Kardon will update the board on any servicing issues for the SBA 504, RLF and IRP loan portfolios for the period ended December 31, 2007.
Report Only – No board action required.
Board Resolution: The MRDC board will be asked to approve a board resolution for the SBA loan closing for Savita and Savita, Inc., dba Red Roof Inn of St. Robert and for ROJO Foods, dba Ava Taco Bell.
Board action is required.
Technical Assistance Contracts: Board will be asked to approve a technical assistance contract for an SBA loan request that was previously presented for Premier Residential Care, LLC on December 19, 2007.
Board action is required.
Discussion on Match for Additional IRP Funding: The IRP fund has all been loaned. Staff wants to apply to USDA Rural Development for an additional $500,000. A $125,000 match will be required. The committee will discuss the possibilities of applying for Neighborhood Assistance Program Tax Credits that could be sold to area banks to raise the needed matching funds.
Board action is required.