City of Madison, Indiana City of Madison Revolving Loan Fund Committee Meetings, 12 Jan 2021

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From YouTube: City of Madison Revolving Loan Fund Committee - January 12, 2021

Description

 Call to Order

 Election of officers for 2021

 Approval of October 27th Minutes

 New Business

o COVID Small Business Rescue Fund Award Announcement

 Next Meeting Date: January 26, 2021 @3:00 p.m. (If Needed)

 Adjourn

A

Clock here we're going to call me the order and I'd like for the board here to just introduce themselves, I'm mark golly. I work with the friendship state bank and I'm presently serving, as chairman of the committee suspect himself with the eli lilly.

A

Benny brunt and conkle.

B

Andy ward, german, american bank.

C

I'm matt worth I'm the economic development director for city of madison, so welcome.

A

Mr chairman, I understand we've got a motion for officers for the upcoming year, 2021 so I'll. Let andy make that motion.

B

Like to move to retain the current slate of officers for the upcoming year, 2021, which is mark goalie president bill hensler, vice president and seth pennington secretary.

A

I'll, second, that.

A

In motion to approve oh, she did it.

A

Okay, so good, okay, motion, okay, uh we have everybody's had a chance to read their minutes from the october 27th meeting. Are there any changes or additions, if not we'll, entertain a motion to approve those events? Motion to.

A

Okay, we'll move right on to the new business, which is uh announcing of the covet small business rescue award uh amounts. So uh unless you've got anything to add man, no mark I've got um on.

C

Your press release, if you just go down that list on the on the press, release that should be in alphabetical order for us today. Okay, just use that please and just go ahead and.

A

Okay and these, this group of applications has all been reviewed by the committee up here. So uh then we're bringing it here for the final approval and what I'm going to ask before we vote on each one of them. If there was anyone that needs to abstain because of a potential conflict of interest, so we'll do that right up front and then we'll vote on each each request. So without further ado.

A

uh First request is 7l food group llc and we don't have any abstaining. So all in favor would you rate your right hand, so motion carrying on 7l food group, and we have advantage auto solutions and we have no voters abstaining from that, so all in favor. Would you raise your right hand again so again, we're carried unanimously american wildfire wildflower won't have a fire american wildflower, llc.

A

uh Andy ward is going to abstain from that. So I would ask everyone else to vote and raise your right hand if you're in favor, so that again is carried that apple max llc again, raise your right hand if you were in favor and again were unanimously approved, blade, styling, salon, llc, no extensions. Again, uh raise.

B

A

Right hand, if you're in favor so again we're unanimously approved chap sports and corporate apparel champs. I'm sorry sports and corporate apparel andy ward is going to abstain.

A

So I would ask everyone else to vote and raise you right here if you're in favor, so we're approved again craftsman brothers, coffee, llc, uh no abstains from that one. So all the favor is your right hand. Okay, we're unanimously approved fine threads, no uh abstaining from that one. So raise your right hand against your favor, so that one is all is approved unanimously as well.

A

Hoss, coffee, llc, no abstaining from that one. So again raise your right hand if you're in favor, so we're unanimously approved. Tell me if we get out of order. Jennifer's simple fashions, uh no abstaining from that one. So all in favor raise your right hand again. So again, we're unanimously approved kentuckian publishing, incorporated no abstains.

A

uh Read your right hand if you're in favor, so we're approved on kentuckian, publishing laser command. Llc, andy ward is going to abstain due to a potential conflict, so I would ask everyone else to vote and raise your right hand if you're in favor, so laser command llc is approved main street antique mall, no uh abstaining from that one. So all in favor raise your right hand, so we're approved again mill street enterprises.

A

Andy warren is going to abstain and I will ask everyone else to vote. If you're in favor raise your right hand, so mill street approved miss libby's on main andy ward's, going to abstain again.

A

So I would ask everyone else: if you're in favor of your right hand, we're approved vivian's, llc, no uh board, members abstaining, so raise your right hand if you're in favor you're, once again approved mv white incorporated no abstaining. uh So raise your right hand if you're in favor, mv white incorporates approved pro co products.

A

No abstaining uh raise your right hand if you're in favor, so once again we're unanimous approval, spaulding's dental office, no abstaining. So raise your hand if you're in favor and once again we're approved sometime printing, no abstain. Extensions.

A

uh Everyone in favor raise your right hand that one is approved, tnt inflatables, no, abstaining from that one from any board members. So raise your right hand, your favor, that is approved, windward international corporation again, we have no abstaining, so everyone raise your right hand if you're in favor, so we are approved. So we have approvals for all the applications that we have.

A

The amount is 207 thousand 175, and I would say at this point I'm very appreciative of the state and the city administration for making these funds available and obtainable by all of your businesses. So it's going to be a great thing for the community, so.

C

Mark, if I could add a couple of things, um as you said this this uh this opportunity that actually the state of indiana through the office of community and world affairs has afforded us to help our small businesses has been very, very needed, and we are very appreciative to the governor, lieutenant governor and okra to help us get these funds just by way of explanation through your applications and the previous rounds and there's obviously, several that aren't here.

C

We were able to help uh 32 small businesses and impact 231 employees, out of all of you, out of all of your, your your businesses so um and actually 94 of those averaged out to be of low to moderate income, which is a prerequisite to getting these funds. So a significant portion of these funds are going to help people that truly need it through your through your businesses and your payroll. So again, thank you to all of you and the ones that aren't here as well.

C

The just by way of some housekeeping the amounts you've applied for have been approved.

C

We will be issuing checks as soon as we receive the funding from the state, which I don't anticipate to be more than three or four days away. Hopefully, so I will ask you to come in and pick up your your checks, which I don't it would be too much of a burden for you.

C

So anyway, that's uh again mayor courtney and I and others are very, uh very glad we can help kind of push this money out so very competitive money, um but uh and who knows in the future what what what the future holds in terms of another round, we're always looking for opportunities so anyway. Just uh that's it at this point, mr president. uh So with that, um our next meeting is scheduled january 26th at 3 pm um to be determined on an agenda. If we need it, so we're not sure whether we'll.

A

We're not sure at this point.

C

A

All right, hi motion care. I think we're done thank.

C