Revolving Loan Fund Board

Economic Development Revolving Loan Fund Board August 25, 2017 PUBLIC MEETING BOARD MEMBERS STAFF MEMBERS 8:45 a.m. Jason Jessee, STAR Financial Karen Pettigrew, RLF Staff Conference Room #105 Rob Sparks, CED City Hall Jan Mansfield, Key Bank 120 E. 8th Street Doug Whitham, Controller’s office Anderson, IN 46016 Adam Hoeksema, FEC Greg Winkler, Economic Development CALL MEETING TO ORDER Ms. Soetenga called the Anderson Economic Development Revolving Loan Fund meeting to order. Ms. Soetenga stated an executive session was held to discuss the financial status of loans in the Board’s portfolio. Quorum Item #1: Minutes Ms. Pettigrew called for a motion to accept the meeting minutes for July 12, 2017. Mr. Whitham made a motion to accept July 12, 2017 minutes as presented and Mr. Winkler seconded. Motion passed unanimously. Item #2: Loan Renewal– Madison County Community Health Center (SFB) Mr. Jessee, STAR Financial Bank briefed Board Members on Madison County Community Health Center (MCCHC) renewal. Mr. Jessee stated the Center provides mental, dental and health services to the underserved population of Madison County and have facilities in Anderson, Alexandria and Elwood. The MCCHC has created 67 jobs. The original loan was provided by Star Financial, Main Source, Old National and the Revolving Loan Fund. They have paid as agreed and the balance is $114,776.00. Mr. Jessee stated the bank recommends renewing the loan for a term of 2 years, with interest rate and amortization staying the same. Ms. Mansfield made a motion to renew Madison County Community Health Center for 2 years at an interest rate of 4% and amortization staying the same. Mr. Winkler seconded. This motion passed unanimously with STAR Bank abstaining. Meeting was adjourned. Minutes submitted by Karen Soetenga.