City of Bloomington, Indiana Urban Enterprise Association, 8 Jul 2020

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From YouTube: Bloomington Urban Enterprise Association, July 8, 2020

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meeting agenda: https://bloomington.in.gov/onboard/meetingFiles/download?meetingFile_id=6739

A

Thanks everybody for joining us for this meeting.

A

Um,, so what we, what first probably what we want to do. jane., do you want to have a roll call?.

A

Yes, ma'am,, what did you call it?? I think that worked better. The last time we'll do paul ash.

B

Alex, crowley, here. julie, donham here margaret fetty.

C

I thought we had margaret I'm here.. Can you hear me?? Yes, mary morgan.

B

And kate, I don't think, is with us.

B

John I'm here. thanks got right here and jackie anna here.

B

And then jane cooper smith is also here.

A

All right. well,, thanks everybody. uh jane,, sent us out the packet. Has everybody had an opportunity? Just look at the uh, 6 10 20.

A

I have a minutes mary um in the approval of a minute.

A

B

A

Okay. yeah,, it says jane's second and I don't know whose second he's, but.

A

Probably not james., so the minutes we're looking at in the packet are from.

B

June 10th not may 13th.

A

Well,, that was when we approved. We did approve two sets of minutes, though, at that june 10th.

A

Meeting, I think yes, we did. right, but today we're looking at the june 10th minutes, right?, okay,.

A

But in the approval mary just said, it says jane seconded and I don't know that we have a jane.

A

Or you can't second, probably.

A

So, do you see that in that minutes?.

B

We can correct that and bring them back next time. If you I I just corrected, I think okay.

A

So any other changes?.

A

If not I'll, take a motion to approve the minutes.

A

Okay, any opposed all right., thanks for the minute., so jane. I'll move on to you for the reports from officers and committees.

A

So, um, yeah,. Can I uh interrupt for one second?? I don't I don't. Is this meeting intended to be recorded?.

D

I don't see that happening., so I just want to make sure that that's the case.

B

Um,, I'm not sure, that's a question for.

B

Okay, we're good. Is it going yeah,, okay,, sorry about that,, um,, okay,.

B

Director's report so I'll give you an update of activities since we last met and we'll go over the financials with. kevin. um,.

B

For the first item,, which is about our website and.

B

um Grant program applications. I wanted to introduce you to sarah dalaga, who is our trustee.

B

Esd intern this summer. um she comes to us from.

B

The bedc so she's been familiar with um,.

B

Today, sarah., can you give a quick overview of what you're up to and I'll screen share? If you want to talk us through?.

E

Yeah, okay. um, hi, everyone um,, my name is sarah.. I am an o'neill.

E

Student and I've been at the badc and I'm here this summer. um,. So if you remember what the.

E

Old uea website looked like it was a lot of text.

E

um Pretty condensed together, and so I tried to alleviate some of that and make it more user friendly,. So there's like an intro page and then, depending on.

E

Who you are and your needs there's like the map gallery.

E

And then there's like the resident page.

E

And like an art, page. oh,, there's an app gallery.

E

B

This project came out of feedback from.

B

A few a few different conversations that.

B

You know,, we, we haven't had a lot of activity in certain programs of ours.

B

So arts always has a lot of activity- business scholarships, facade grants have been underutilized in the last few years and.

B

Sometimes the obvious isn't always obvious: it was.

B

um Mentioned that our copy is, you know, was pretty dense and hard to understand., so sarah's, taking kind of first stab at.

B

um And then we'll we'll continue refining it so,. You know feedback welcome.

B

And this is a work in progress. and so, along with this., we'll be moving. Our applications online for.

B

B

Programs, which I think will also increase participation and then decrease staff time and managing it.. So.

B

That's exciting. um, and then.

B

Kind of one of the cooler things sorry,, I stole your floor. Sarah I'm gonna brag about.

B

One of the cooler things that she's working on just started is the impact page, so in all of our reporting requirements, um for.

B

Grants and the tax programs we collect information about um job creation,.

B

And it's just all been on paper and kind of just.

B

Revolution., so sarah is in the process of wrangling that for us- and I think that will be really.

B

um Neat to share, and then I also think.

B

We will be able to note the uptick in participation. um,, so we'll have kind of a baseline for the grant programs and.

B

Yeah,, hopefully, that will go up from there. sarah. did you want to say anything else on this subject?.

E

No,, I think we got it all sorry.

B

It's okay and then anyone else have anything on that. Will we be adding some of our like new logos and things like that? Online, too?.

B

Yeah,, I think, so. we have to go through the city, because it's a city page.

B

It's subordinate to the city style guide., so I think we'll add our new branding.

B

As long as it fits within the web, the web.

B

uh Suite design suite requirements. so yeah, sarah had put the banner up and it looked.

B

Great, um,, but then we kind of pulled back so that we'll have the city designer do that. okay. all right.

B

Thank you. yeah, and, to that point actually,, you know, the uh,, putting up a brand kit or something like that.

D

Sometimes helpful too. right if people is one of the requirements for grants and that sort of thing is to include logos.

D

That might be a nice way to do that as well. oh, yeah post, that on the website., so people can just download it. yeah, exactly. yeah,, that's great.

B

B

Yeah, and I guess I would also note that we've slo, we were sort of.

B

Really regularly posting on social media and have slowed down on that in the last couple of months..

B

I think part of that is just being really busy with covid, and then part of that is that our community attention is.

B

Focused elsewhere, right now,, which I I think is okay,, but we haven't lost sight of that and we'll get.

B

Get rolling with that as well.

B

F

So jane,, can I ask a question about that? um in terms of in terms of social media,, I noticed our facebook account has.

F

Like 25 people who like it, which is.

F

Not a lot,, but it's a good start., um knowing that that's kind of a new presence.

F

It might be um, helpful,, uh other organizations, I've been in where the board is asked. If you have a facebook account to.

F

Invite people to like the b-u-e-a.

F

Facebook page and that you know, it starts to gain ground and accelerate, as people do that on social media.. So.

F

Um, we can do that. Sarah.

B

Sarah,- and I can add that to our list- and it really just needs some attention and I think it will happen.

B

F

So I don't know like mary through the chamber, if you're able to do that as a member of the board just to invite people to like the page.

F

Or not. um you may or may not want to do that, but it it really can help us out quite a bit in terms of this sort of brand awareness, too.

A

Um, yeah,, I'm not sure I have a a lot of.

A

Yeah, I'll give some thought I I'm happy to help promote it, I'm not sure inviting friends but yeah, I'll do some targeted.

F

D

You should also know karen that, uh,, the original facebook page that was posted this was years ago.

D

I think, just as I was starting at the city,, I think there were two people who liked it, so we're actually doing really well relative to that.

F

Yeah, absolutely we've um at the bloomington health foundation, with our rebranding in 2018, went through the same process and.

F

It takes a little bit, but once you get like enough.

F

Going on the like little tiny snowball., it really does start to gain some ground. so, um, yeah,. I understand.

B

um Okay,, so the next item is the rrf.

B

Loan update- and so this is kind of a little summary of the this is supported with the um 350 000 rrf.

B

The businesses pay the first year,, they need to generate successes, so um you know quick rounds and it has a bunch of fun and.

B

You can tell that we've cycled through a lot of this yesterday.

B

Um, we've been taking the potential.

B

So this low program is.

B

B

If they're not going to take it so that we can put that money to work for someone else,.

B

Um, but you can see, there's a range of businesses, um some larger and then some really.

B

Small small sole proprietorships that I think I'm really especially happy to be able to help this any questions.

D

This uh, jaina- this is uh, not specific about the content, but is anybody else having trouble hearing jane, or is that just something on my end?.

D

Okay,, so you were, you were breaking in and out a little bit jane um,. I think we caught most of it, but just so you know,, there's a.

B

Put my headphones on sorry about that guys.

D

It's ironic because they're about 10 of the people in city hall, presumably the same bandwidth and yet.

B

Can you hear me now.

D

F

I would just add in that I was part of this review process um for these loans, along with a bunch of other folks, who are.

F

um Invited to join that review committee.- I was part of the qualitative review,, so I'm not a banker.

F

um Every loan had a banker who did a like an actual banking review of the loan?.

F

And then there were three people who did qualitative loans,, which I was a part of that group.

F

um Along with a lot of other folks, um,- and it was more around.

F

There were probably a dozen questions around: does the business.? What does it add to the downtown?? What is it? um,.

F

Uh,, how long has it been in business some of those things, and then we also.

F

Determined from our own opinion, after reviewing the information, if it would get a buea loan or a food and beverage tax.

F

Loan, and then that all went to that final committee, so I would just say I thought it was really professionally run and well done and used a really great online portal.

F

That was super thorough and um,. I think certainly, there were improvements, but but even partially, through alex.

F

uh Corraledos, along with folks, and got feedback and improved it., and so I thought it was really well done.

F

um In a really tight time frame for something that was fairly complicated,, so.

F

um Hats off to you guys for making this happen.

B

Thanks., karen and thanks for volunteering, your time. um for the program.

B

uh If I can add a couple of, can I add a couple of things just from the perspective of.

D

So one is just just to reiterate, I think we may have spoken about this before, but the importance of the buea.

D

uh Pot really became evident quickly, early on as these loans requests were coming through, because you know the the food and beverage.

D

uh Requirement while we tried to create as generous a set of of.

D

uh Policies towards that as possible, because obviously that was the bigger.

D

Pot, so we were always trying to solve for that first, because that was going to be you know,, the bigger pot, and we knew that.

D

But but it just became really clear how important the uea's role in the rrf was because there were definitely, as jane pointed out.

D

They're definitely businesses that, especially in today's environment., we really wanted to go out of our way to help.

D

Um,, that would not have qualified for food and beverage, and so the opportunity to have them.

D

Benefit from this program through the buea side of things was, was really important.

D

Now we do have some money left over in the food and beverage side of things still.

D

And the food and beverage side of the equation.

D

May be tied to the executive order is tied to the executive order from the governor,, which was just extended.

D

So there's a little bit more runaway on that, um and- and this is you know, most of this is tied up on the uea side.

D

So so I think jane where you were cutting out a little bit you may want to reiterate, is, is you know some of those.

D

Outstanding loans that have not yet been activated and what we want to do about that and just make sure everybody understands that.

B

Yeah,, so I think what you're indicating, is that the the food and beverage?

B

loans their runway, goes through july, 1st., um, and then the bba. I think.

B

You know 294 out the door now.

B

And I think maybe you all will have to decide whether you want to tie these updates or if we could have you know covet is not going away.. I think there will continue to be need for these funds, so.

B

G

It's happening again.

B

I'm sorry. I'm not sure how to handle this.

D

I should try to kill your video see if that helps, and then.

B

I would love to do that.

B

There we go, is this any better.

H

Yes,, you do sound better, jane.

G

Great. well,, you guys see what we're working with at city hall.

B

um Yeah, so alex was saying, the runway is, is up for the food and beverage fund. july 31st.

B

And buea board,, I think.

B

Maybe in our next meeting you'll need to decide or I suppose we could have the conversation now.

B

Whether you want to continue to allow the.

B

You know if we have 30 000 left on july, 31st.

B

Could we potentially loan that money out in august or september?.

B

Do you tie the line of the eba portion of the rr loan program to the line of the food and beverage.

B

And it's, it could be that the executive order continues to be extended.

B

B

So,, I don't know alex, do: do you think that we need to have a formal?.

B

Discussion about that now, or julie, or do you think, just pointing to that?.

A

Well,, I think, a couple of things: we need to figure out where those the 30 000 down below the the people that we've pledged money to that haven't taken. It.

A

We probably kind of need to give them a drop dead date, so that obviously gives us more funds to lend- and I don't mind stretching out the runway.

B

And I did that this morning I gave them, uh,.

B

They've had these offers for a long time., and so I gave the drop dead date of monday. okay? yeah.

A

Yeah, so and I'd say yeah, I I am not opposed to stretching it out.

A

Uh, you know,. If the end of september makes sense, that's fine with me., so.

A

I don't know how everybody else feels.

D

I think that's uh julia good idea. I I worry that we are by no means out of the woods and you know, as you look at things like ppp.

D

Runways and you know how people are consuming that um,.

D

You know, I and and some uncertainty related to august september.

D

I think the the having that, if especially a food beverage, goes away, but either way having the ability to.

D

Have a a secondary push, if necessary, with some amount of money, would be probably a good idea to prepare ourselves for we may not use it.

D

But it would be good to have that ability.

A

And we'd still stay within our 350, which was our original even and you know.

A

We talked a little bit yesterday about tanya's touch paying back, and I don't.

A

I don't have any issues if the board doesn't have any issues of.

A

Redeploying that money during this period, whatever time frame, we give them also.

A

I don't know how anybody else feels about that.

F

I'm okay with that, as long as we're within our 350 that we can.

F

You know,, maybe just to make it should the board agree.

F

After discussion, here,, maybe make it official with some kind of vote.

F

So it's on the record and clear what we intend for jane and alex to do.

G

So I'm, sorry,, you guys, seem to be uh talking.

G

Amongst yourselves,, I guess with this thing with tonya's touch., I don't understand what we were talking about. There.

B

Sure., so this is jane, since you can't see me.

B

I'll highlight the.

B

The cells on the screen, so the total amount that we've loaned out so the total amount we've earmarked was 350.

B

The total amount that we've loaned out is 344.

B

um But because tanya tanya's touch has repaid 50.

B

We reallocated um this 30 000, which hasn't been loaned, out. um,, but it's.

B

You know been, I guess, activated in a way: basically,, we've recycled.

B

A certain amount of funds. I didn't do that math and off hands.

B

So we've we've we've circulated 374.

B

Total, even though we've only ever used.

B

B

At a time if we have deployed every single dollar at the same time,, it would be 374., but because tonya's touch has repaid.

B

50 000 and because these guys haven't actually taken their funds, we only have.

B

294 000 that's been utilized right, now. okay.. I I wasn't understanding that tanya's touch already repaid that money.. So.

G

Okay. yeah, they did, they were they. They turned it around in, like a week., it was kind of amazing.

B

So so what I'm hearing from the group is that we're looking at the the deadline.

B

You know the end of the program and the 350 000.

B

As kind of the parameters that the 350.

B

Yeah 350 000 total, but it can be recycled recycled as long as we stay under that amount at any given time.

A

Right, would somebody like to make a motion?.

A

To that effect, or is there any more discussion?.

D

Julie,, can I just ask a clarifying question just to make sure that we're all exactly on the same page, right?.

D

So we've talked specifically about tanya's touch, um,, there's a possibility of repayments happening between now and you know,.

D

Whenever end of september or something like that,, should we just very clearly say?.

D

That any monies returned between now and like the september meeting or the october meeting.

D

uh Are are able to be recycled and that we we peg a meeting.

D

Month to as as a review of that and and that ability to recycle.

D

uh Is open until that particular moment so that we.

D

So so that if someone else happens to pay back um, you know,, we have clarity as to whether or not it's okay to recycle that as well. well,. I was hearing people.

A

Say that we were okay up to the 350 in total.

D

Regardless of whether it's whether someone else pays back, that's part of that equation, then.

D

So you're saying.

A

Yeah, well 350 in total. yes,, but is so like tanya's touch paid back that gave us 50 more thousand availability.

A

Yeah, I mean so we effectively had dispersed that, but we still we had that available to redisperse, right?.

A

Is that what you mean?.

D

Yeah,, so what I hear you saying is: if someone else casey designs on making this up happens to pay back.

D

You know next month what you're saying is that we that can get redispersed.

A

That's what my I thought. yeah.

D

Okay, and that maybe we give ourselves until the end of september or something like that as an end date of that of that?.

D

Authority and and then we do a review, maybe in the october meeting to say. all right, here's what happened.

D

Here's how it kind of wrapped up., and what do we want to keep going?.

A

Right or yeah,, or do we want to keep going at that time?.

F

I would be willing to put out a motion for discussion.

F

On this julie, if that works for you sure., so I would move that we extend the program to september 30th.

F

And that up until that time, the outstanding.

F

Balance of funds disbursed and commitments on loans. never exceeds 350 000.

F

Which allows for funds to be redeployed.

F

If someone pays them back before september, 30th provided.

F

That the funds are not redeployed until the actual check clears the bank from the repayment.

F

Just so we don't get ourselves stuck somewhere, so the check must clear the bank and we actually have the cash back in our.

F

Account with clear check, then we could redeploy those funds but the outstanding balance, whether we've dispersed it or not.

F

As long as it's committed never exceeds 350.

A

I second that, because it is the longest motion, I've ever.

A

Heard I I applaud you.

B

Well,, that's a compliment. Coming from mary she's attended a few meetings.

B

Thank you, kara.

A

Mary jane,: do you want to do a voice count, or do we want to just.

A

Well,, let's just say, let's just try this all in favor., aye aye.

A

Aye opposed, I hear none so motion pass. thank you. karen.

B

Okay,. Thank you. Everyone, that's a little complicated.

B

To discuss so that the next item I was going to chat about were our overall programming commitments.

B

And it occurred to me this morning that um,.

B

Let's see.: oh, I think what I'll do for our next meeting.

B

I'll go back to our budget spreadsheet for our august meeting and use that, but on.

B

This spreadsheet, I was using this, uh to map out the individual programs.

B

So bear with me this month. Next month's format will look a little more familiar. um,.

B

So- and this isn't perfect, but it sort of shows you where we are.

B

Or doesn't because I moved a total anyway, we funded half of our nearly half of our.

B

Increased zone arts grants the next round of funding will be in august.

B

So we have 43 250 left to go there.

B

This is a summary of the loan fund.

B

We just discussed um and that'll go back down to 294 if the 30 000 of commitments.

B

Expire on monday, um so we increased.

B

The zone business scholarship.

B

Actually,, it's unclear to me which scholarship we increased. I think either one the total is up to.

B

25 000 so I'll go back to our notes and look at that,, but this is basically showing you that we have um,. Two payments left from.

B

2019 that will need to go out probably today.

B

And then we have a new scholarship in for 2020.

B

Which is exciting, this is a person, who's studied something else in undergrad left the workforce,.

B

Is a mom and is is returning to um, get new certifications., so that's really exciting. um,.

B

And then, once when we wrap up our website update, we will.

B

Start promoting the scholarships- and I think you know- maybe even by our next meeting, we'll have much longer lists.

B

um Down to the zone, business scholarship gather.

B

um So they're approved for 1200 and uh,. The majority of that was going to oh look at that. Typo. um,.

B

Fees and advertising related to.

B

They they've re-retooled their model given covet and they do a lot more online events now and so.

B

They've, these are mainly facebook, promotional ads and there was one other small expense attached to that.

B

But that was just kind of a nutshell, um balanced lifestyle services.

B

Is an rrf loan recipient, it's a company,. It's a zone resident and a zone business.. They.

B

Do a few different, a few different things. there's like lifestyle, coaching and then they'll also come clean, your chemicals out of your home and help you.

B

Build a suite of of home products that are non-toxic and they'll do cleaning, so they do a whole bunch of different things.

B

Um, and she's pursuing training related,, so I haven't those haven't been.

B

Paid yet I'm waiting on documentation, and then we have the frosted foods building for the historic facade grant, which we approved last time. Work is underway there today.

B

So if you have time to drive by and look at what our.

B

Bu funds are up to. You can see that there.

B

um This I'm sorry, I don't have a total.. I was looking at it before we started the meeting.

B

Conor and I realized that we have not actually paid out on the.

B

Waldron historic facade grant, which I believe was for tug, pointing.

B

Um,- and I think it was 2019. so I'll look into that.. I I think that.

B

You know some of you may know that the city has.

B

Taken the waldron. um back from ivy tech and.

B

So I I'm not sure if that grant is still alive um or not,, but that would be something I think we would need to discuss before we pay pay out.

B

um Lemonade day we signed that um,.

B

Mou fast and furious via email for the ad and then the event was canceled and coveted happened.

B

So we never paid them our subsidy. This year.

B

But I think that we still should I don't know if we need to have a conversation about that or not.. It's basically.

B

Supporting the programming that will return next year and alex, and I.

B

They did still do some events, this year. they did video pitches for their lemonade, stands and.

B

Some of the kids did build their stands, even though they weren't able to conduct business.

B

So it was really cool to see that. alex.. I don't know if you want to weigh in on that event.

D

Yeah jane and I uh participated in the event. It was a you know, a.

D

Zoom meeting they had a couple: kids, they had. uh,. They had some videos that they showed of their stand.

D

It was the cutest thing in the world yeah,, but they what they ended up realizing was that there were. There was going to have to be a curriculum.

D

Relative to the normal program, it was actually pretty impressive that they were able to cobble together.

D

uh Alternative ways of disseminating some of the learning that they would ordinarily be doing through a traditional,. You know program.

D

And make it uh, make it a good.

D

Alternative experience. so,, you know,, it's it's a.

D

It's a small thing, but I you know, it's just one of those programs where I just think it's um,, it's uh,.

D

Both, uh really great to see the kids get engaged and be excited about it. and also come away with some pretty good information.

D

So, you know,, I. I was really happy that that we were able to participate in that.

B

um So I guess the in summary I'll I'll present, this information.

B

It'll be tightened up and in the format of our our old budget document next day,.

B

And then I think we can. We can keep this as a rolling um items. If you want to.

B

Julie was wanting to know what we.

B

What what spending we're committed to that's actually been earmarked and not paid.

B

So, um,, I think that's important and we'll continue to do that.

B

We're at the halfway mark. um. kevin,: could you jump on and walk us through?.

B

Our financials.

B

If you don't mind.

I

Sure, yeah,, um,, okay, so.

I

Let's see is, it is yeah I was gonna say um, is that the first sheet? okay.

I

So profit and loss, um, the the biggest change from last month. um,.

I

Was on zone membership fees, um that were.

I

Deposited uh in the in the month of june.

I

um And that's you know,, that's. I mean there. Obviously some some interest and a small amount of late fees.

I

But not nothing significant. There.

B

And I just looking at expenses.

B

Sorry, I just tallied the remaining zone.

B

Membership fees and there's a deposit of 379 000, that's going through.

B

um Covenants in your office, whenever you're here next.

B

So we're shy, I think 10 000 in zone membership fees that'll be due by july 15th.. So we're we're close. we're getting close.

B

I

Okay, no problem, um for expenses.

I

Uh,, you know that we do have uh, various grants, not a lot of activity.

I

Recently, there,, but uh total year date was uh,.

I

um 17 000 267, um we had insurance expense of 22.50.

I

Some scholarships of totaling just over.

I

000 dollars.

I

Giving us total total expenses across that of.

I

10.527, giving us ordinary income of 202 000.

I

And then we had interest income in addition to that., so we ended up.

I

uh As of june 200, and just under 204 000 of net income,.

B

Great um, yeah,! So if you want, if you want to go down to the um,.

I

Down to the balance sheet,, then I thought I got those chain percentage changes out of there. Anyway, okay.

I

So for the balance sheet, um a couple of things looking at cash as of the end of june.

I

Uh, we had uh, 13 or 1 million.

I

380 000 um, you'll see the checking balance is negative., there are, there are two checks that are still outstanding.. One of them is.

I

uh Was a a check that went out to ivy tech.

I

And I have not seen that come through the,, you know clearing the bank.

I

um And then girls, rock bloomington, um is the bigger amount?

I

and I've not seen that clearing,. You know clearing the bank.

I

So so in you know, if you were to look at our.

I

um Our balance,, you know on the bank, the bank statement., it's it's positive.

I

Um, but there are two checks that have not cleared.

I

Um, then, with uh, german american bank, uh,, we've got 200 and just under 214 000.

I

Iu credit union, 203, 000 roughly and then people say bank, uh 103 000. now.

I

I we had not um, as of uh,. Yesterday we had not received statements.

I

um From those three banks, and I don't have online, uh visibility,, I believe people say thank.

I

um That will the next interest payment will be in july, um,, so that that's,, you know,, probably.

I

The balance that should be the balance for uh iu credit union. it's it's. You know,, roughly.

I

We received roughly 50 something or 50 50 to 60 dollars.

I

In interest, and then german american, it's it's usually.

I

um A little over a hundred, so uh this balance is probably understated by about 150 uh dollars,, but I I will continue to try to track down those.

I

Bank statements and then then make sure I record it.

I

Appropriately, um looking at at uh accounts, receivable.

I

um And the the same, the same will hold true for accounts payable the I I've been going through the uh balances.

I

And these are all um from several years ago.

I

Um,, so I'm going through uh the cash statements.

I

Um,, you know transaction by transaction to see why.

I

We have those balances. um uh,, see if we've received them and we just didn't clear them against uh,.

I

Uh,, the the payables,.

I

Or receivables um, and I'm gonna I'll, probably need to pull jeff in, because that this predates me obviously,, you know,.

I

All that that activity predates me.

I

Um,, the the um,, significant change and and jane uh went through in detail. um,.

I

Are the notes receivable? now you'll notice, that the balance is higher than what she was showing? But that's because we have other non-um.

I

Rrf related notes.

I

Like just kind of scanning, through.

I

Michael's uptown cafe to tap.

I

The owlery topologist investments., those are all.

I

Outside of that program, so so the amount's going to be different.

I

Now one one thing I noticed um and jane: maybe you could share that uh spreadsheet with me. That has these, because I noticed that.

I

um Tanya's touch um,, I I we did receive fifty thousand dollars and when I looked into um into um,.

I

uh Quickbooks um, I had that clearing against. um,, that's the rub.

I

And I didn't see that with the rub on your.

I

So,, I don't know if that, if that, because when, when we first started, recording yeah,.

I

Okay, so so in any case um, I I'll need to to uh,. I can that's. You know a simple.

I

um Entry to uh,, if I need to clear it against this, instead of that.

I

Um,, but that you know other than that,, I think we, I was kind of scanning through your list.

I

And we lined up other than the fact that there are those other.

I

uh Notes receivable that exist and then again, I mentioned accounts payable.

I

Um,, so I'm I'm continuing to look into that and I'll get some time with jeff to try to understand those older transactions.

B

Great questions.

A

Hey jane,: did we ever find out anything about uh,, the tapalgas that was not current?.

B

No, but I emailed him yesterday,, so I will report back.

B

A

So I I have a question, um, yeah. kevin. I was not following you when you were talking about.

A

Um, was it the accounts payable that we're not?.

A

I guess I'm confused about what on this balance sheet is not.

A

Actually, reflecting reality.

I

Right, so- and I I don't know that it's not I. I just know that when I look at.

I

Specifically, looking at the accounts payable activity, um, the the outstanding balances date back to 2014.

I

Through 2017, and then it looked, it looks like after that point everything was.

I

Generally recorded on a on a cash basis.

I

um So as we received checks, it was, you know, recorded as income and an increased cash,, so.

I

um The cash the cash balances are in line,, so everything's been recorded.

I

I I just don't know I. What I need to do is go back and see: okay, where we receive cash.

I

Um, did we receive payments from??

I

You know those those vendors that are um, uh, or I'm sorry where we paid cash in the case of accounts, payable. um,.

I

I need to look at the payments to to the vendors that have outstanding balances.

I

And just see if there was something that that we recorded that didn't clear against the payables.. So that's the and because it's.

I

Again, it kind of predates me.. I may need to pull jeff underwood in to to just understand what those balances.

I

Represent why why they wouldn't have been cleared already or if they're, if they're, truly balanced,.

I

Outstanding balances.

A

Those are related to the entirety of the 19 279 dollars.

I

Correct, yeah,, when I, when I um pulled up that detail, I think the last.

I

Last uh, um entry that was posted against accounts payable.

I

uh Was in 2017., okay.

A

Great same thing, with accounts, receivable, too,, right?, kevin.

I

That's correct., yep,, that's exactly correct!.

A

Okay, thanks. thanks for tracking that. yeah,, so I'll.

I

Yeah, and I'll dig into it I'll find out,. You know if we need to.

I

Clear it., if it, if it's something that needs to be cleared I'll, I'll, correct it.

I

um If they're truly outstanding balances and- and we owe,, you know.

I

I I wouldn't think that that we would owe somebody- and we wouldn't have heard from them.

I

But, um and and likewise if if the receivables are truly.

I

Balances do us um, then,, you know,, we'll have to look into what that history is.

B

So we'll report back on that in august. Specifically, we can talk about that during financials. I'm gonna.

B

Move us along if it's okay, because we're at 12 44 already, which is hard to believe. um,.

B

Time flies when you're having fun,. um So I guess I'll talk about under new.

B

Business, the zone resident um and business scholarship disbursement amendment because it's quick and then we'll talk about cdfi, friendly bloomington., um,.

B

I guess when we we amended the scholarship program for russian businesses rrf, we decided to allow expenses to be paid up front.

B

It's a reimbursement scholarship, but because of financial hardship related to covid. We said that we would.

B

Allow payment upfront, so someone could pay for a class before they take it.

B

There it's some some items I I feel like are going to go to the individual. I guess.. I just wanted to clarify that we're not.

B

Going to pay an individual for an ivy tech class up front, if I'm paying an individual, I should still be reimbursing them.

B

If I'm paying an institution, it's okay to pay up front, and this maybe didn't need to be discussed at the whole meeting.. I suppose I could have talked to julie about this.

B

Okay- oh let's follow up on that offline.! I'm not hearing any.

B

Anyone in it?, okay,.

A

I think you're good on that. jane., I'm,, sorry. okay,, that's so fun, muted., sorry., no,, that's fine., um,, okay and then.

B

The the item for cdfi friendly bloomington board appointment.

B

It's basically that I I as a board member of the buea before I started working for the city.

B

I was the board the bea board's presentative on cd by friendly bloomington.

B

um Cdfi friendly bloomington.

B

um Buea is a is a founding donor for that organization, and so with that, we secured.

B

One general board spot and then one board's one financial committee.

B

Spot so julie has the um the actually the loan committee, so julie will be there reviewing.

B

The loan product or the loan applications that come in, but the board spot since I'm now a staff member.

B

I can't officially represent the buea.

B

On the cdfi friendly board, so we are we're in the case of needing to appoint a new person.

B

And someone expressed interest and I think they would be great and the cd cdfi friendly bloomington.

B

Supports it, and so we need to discuss it.

B

As a group and then have a vote., that's okay, with with everyone.

A

Jane, I didn't um did not understand your who you had. you're, still breaking up a little bit.

A

So,, oh gosh, who is nominating who's being nominated? um, we're I am I well. I can't nominate anyone but.

B

um Here,, let me stop the share, so you can all see each other.

B

Scott wright, um is who?, I think, would be a great board member for cdfi, friendly bloomington.

B

And then you guys will need to discuss and have a vote and scott has.

B

I feel so weird not being not seeing everyone.. That's why I'm awkward one of the reasons. um,.

B

But yeah, so yeah scott's expressed his willingness and interest in participating.. He has an mba, and so I I'm confident we'll understand and be.

B

Be useful in in discussing the.

B

Finances of that organization and and the kind of it's kind of complex and technical so, um,.

B

And scott you've talked to brian payne, about it.

H

That's correct so brian I've talked about it recently, um, and he,. You know reached out a bit and.

H

We've had a number of conversations,, you know over maybe the last six months or so just general things about you, know,. What you know.

H

And I'm interested in it and I'm definitely interested in you- know, community building and folks that don't actually have the type of access.

H

To you know to financial products., yeah, um and, and what you know cdfi is doing so, um,. It's.

H

If the board here would allow me that's a position, I'd like to take and be a part of so.

H

I would accept the nomination.

B

Do you want to weigh in.

A

Yeah no,, I I think that's great and scott.. We would be, I think, honored to have you represented.

A

Probably need somebody to make a motion that you would represent us on the cdfi board.

A

Can I have a motion or is there any other discussion?.

F

If I would move that, we appoint scott to the um position with the cdf5 representing the buea.

A

All right., thanks for checking that, second from jackie all in favor.

D

A

Opposed thank you, scott for representing our interest and watching over our money there at the.

A

Nearby, so we appreciate that., so my pleasure. look forward to hearing your reports.

H

Okay. thanks. my pleasure.

B

B

So under unfinished business,, thank you, scott and thanks board for supporting that um under unfinished business, uh,.

B

There's the bylaws map.. I just wanted to update you guys that this is.

B

Really a complicated undertaking- and I don't think I can turn this around super quickly.

B

Um,, so I just wanted to set expectations.

B

There, um,, I'm not sure what it around looks like, but I think this is something that fall.

B

um uh Spea in turn would be able to look into.

B

And um yeah,, so I'm communicating slash, asking permission,. I guess that.

B

If that's okay,.

A

I think that is going to be a big job,, but it's obvious something that we probably need to do.

A

Can at this point,, can you talk a little bit about your new ease in with catalin?.

B

Yes, we um, so.

B

um The buea- I I think everyone knows, but I'm just gonna- keep kind of going over because we have new folks,, but the bea.

B

Gets its its money for programming from.

B

Enterprise zone investment, deductions, those are real property and personal property deductions.

B

The owner claims them and then remits, twenty percent of their savings to the buea and one percent of their savings to.

B

The association of indiana enterprise, zones. um,, our largest eased, is through um,.

B

Catalan, and it's the value of it's like 30 million dollars and we get.

B

You know half the value of our ease of revenue from that, um and it rolls off in 2021, I believe um,, which I could actually confirm, while we're.

B

Talking. um,, so you know,, that's we figure out how to make that income. So last I mean we were talking about this. We talked about the idea of shifting the maps away.

B

I'm not confident in that, but we're gonna look into it and then we talked about focusing on personal property as a way to um,.

B

Get around the the lack of ability to approve new edens.

B

Because of the tif districts. so anyway,, this is all to say: talent has a new personal property, that's worth 1.8 million dollars,. So.

B

That's um I guess I didn't calculate what that check, will look like,, but that's new, so it'll go on for.

B

10 years from the start date, which is the year., so we're really excited about that and actually,.

B

They filed that after july 15th., so we do have one more to do and that's to approve the extension for.

B

B

2019 no catalans 2020.

B

Ez2, it's their registration., I'm,! Sorry, I'm getting! There are so many things going around.

B

We don't have to vote on that.

B

Because it's not past a year no, we have to vote on it,, but we don't have to provide documentation because it's not last year.. So.

B

We do need to vote on that today.

B

If that's okay,.

A

So tell me what we are po because they filed it on july 15th, as opposed to.

A

June, or may.

B

They filed it on so I think they filed it on june 17th instead of june 15th.

B

And so the auditor would like us to approve the filing the late filing.

B

For for catalan's new.

B

Personal property.

A

Ezid yeah,, I don't I mean. Obviously this is a new ongoing source of revenue for us for 10 years.

A

I'm, not sure why we wouldn't do it., but is there any discussion on this at all?.

A

Um,, I just I feel like I don't have any documentation or and possibly it's because I'm new but.

B

No,, it's I didn't have it., I don't have their ease, it in hand, yet. um,, but because we were.

B

I'm sorry everyone.

B

I just don't have it., um so I think if we need to postpone the vote,, that's fine., I don't think it's going to change what the auditor's office does.

B

um Last time I had, I.

B

Had them fill out the easy be form., so we were looking at the value of the deduction.

B

Um,, even though that doesn't actually affect our auditor's office, so I'll.

B

I'll have that at the next meeting.

B

If the auditor's office needs it sooner than then.

B

That time, I suppose we could do an email vote,, but I don't think we're going to need to do that.

A

Okay, then we can look at that at the next meeting., but that was a good win.. I thought yes.

A

I think it's a good one. yeah, so.

B

Sorry for that fumble, it's just backing and forthing with um my compatriot patrick at the auditor's office.

B

And that was we were talking about it yesterday and I neglected to get it from him.. So that's a.

B

Manitoba, um but it's still good news.

A

So we're going to put them the maps and bylaws type thing on hold.

A

We're going to look at padlet next time, um I think also, next time, we've kind of we kind of deter have determined that we never really had an election of officers.

A

So we we are going to take a look at that. That's going to be in your pre-meeting stuff next time.

A

Your pre-meeting information, uh, just to set up the the list of officers.. Am I correct on that?.

A

Yeah, okay, all right, so, uh it it's something. I don't know how what happened at the first of the year,, but it evidently is something that flipped by us.

A

So I apologize for that.

A

Do you have other discussion, jane, no,, huh?, okay? Does anybody else have anything more for the good of the order?.

J

um When, when we're looking at.

J

Perhaps changes to the map we might consider.

J

Including north of 17th street, because of the trinitas development that will go in there.

J

It's just just a thought.

A

D

If I can just uh, you know,, we are, we should talk about it just for a minute. but uh,. It's obviously a very.

D

Complicated moment in bloomington right now.

D

And I think one of the things that the uea is very well positioned to do- and perhaps this has changed something we can put on the agenda for next month.

D

Is to look at ways in which, as an organization.

D

We can review how programmatically we are thinking about you know, the issues that are being raised.

D

Racial justice and and equality, um and and equity generally.

D

And look at ways that maybe our programs either are or are not.

D

You know meeting the need right now and I think that that that could be something that would be a really good exercise for us.

D

Um, that would have that could potentially yield concrete results in a way that um,.

D

That the the uea is particularly well positioned to.

D

To execute on given its flexibility. yeah,, and I think that.

B

Part of that discussion is just remembering that the map has a.

B

Two-Fold impact, one is the the impact of income. it determines where our income is generated.

B

But then it the benefits, it determines how the benefits are applied.. So.

B

We we could consider adjusting the map so that you know.

B

More, the benefits can be more broadly applied to our community, even if that doesn't necessarily mean additional income. So food for thought.

C

That's all I have all right, is anybody else? Have anything they'd like to add thanks, alex and.

A

If not, our next meeting is going to be august. 12Th.

A

And I assume that we will be online still.

A

Okay,, we will still be online, so thanks everybody for your participation.

A

And putting you know making this all work,, so I think it's good that everybody's on and we're seeing everybody. So I appreciate you.

A

Going to the extra trouble to make this all work., so thanks jane for everything.. So thanks for your patience all so.

A

All right, everybody. have a good week. thank you.. You too.

A

F

B

Okay., thank you.

A

All all in favor, all right. okay.. Thank you very much.

C

C