MERAMEC REGIONAL DEVELOPMENT CORPORATION
NOTICE OF MEETING AND AGENDA

March 19, 2008

12:00 p.m.

MEETING AGENDA

  1. Call to Order:  Tom Klebba, President

  2. New Board Members: Tom Klebba will welcome new board members.

  3. Review and Approval of Minutes:  Minutes from the full board meeting on January 16, 2008 will be reviewed.
    Board action is required.

  4. Financial Reports:  Cheryl Dupes, Fiscal Department, will present reports for the fiscal year 2007-08 for the period 7/1/07 through 2/29/08 for the SBA, RLF and IRP funds.
    Board action is required for SBA financials only.

  5. New Business:
    1. Board Resolution: The MRDC board will be asked to approve a board resolution for the SBA loan closing Miracle Investments, Inc., dba Better Bodies of Missouri, Inc. and for Thomure Brothers Properties, LLC, dba Thomure Lumber.     Board action is required.
    2. Certification for EDA/RLF Plan: Renewal of joint resolution by MRPC and MRDC for the annual RLF plan certification to be submitted along with MRPC’s RLF report for the period ending March 31, 2008.
      Board action is required.

  6. Adjournment from Open Session to Closed Session

  7. 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 Servicing Update:  Maria Kardon will update the board on servicing issues for the SBA 504, RLF and IRP loan portfolios for the period ended February 29, 2008.   Board action required.
      1. Honse’s Café & Convenience Store: Cancellation of debt for the RLF loan provided by MRPC/MRDC in the amount of $39,546.82.
      2. Lakeview Restaurant and Lounge: Request to modify RLF and IRP loan agreements to interest only payments for a period of 15 months.
      3. Schneider’s Repair and Service: Staff will recommend to board for approval for SBA to liquidate the loan and be removed from our portfolio.
  8. Adjourn from Closed Session to Open Session

  9. Comments for the Good of the Order
    1. Board Vacancy: One vacancy remains in Crawford County to replace W.H. Pete Lea’s position.
    2. Next loan review meeting is scheduled for April 16, 2008 (tentative).
    3. SBA form 912 needed from Dwight Massey, Scott Shults and Mark Weidinger to send to SBA.
  10. Meeting Adjournment