Community Development Authority (CDA)

COMMUNITY DEVELOPMENT AUTHORITY MINUTES VILLAGE OF EAST TROY October 28, 2019 Page 1 of 2 Call Meeting to Order Roll Call Chairperson Holm called the meeting to order at 6:00 p.m. Present: Mary Nicoson, Benny Stichmann, Jim Holm, Alex Alger, Scott Seager Excused: Absent: Tony LaShay Others: Eileen Suhm, Tanya Fonseca – Graef, Ray Gooden and Craig Friemoth of Anderson Commercial Public Comment None. Approval of Minutes Minutes dated September 23, 2019 Motion by Mary Nicoson, second by Benny Stichmann to approve the minutes. Motion carried. Closed session Adjourn to closed session pursuant to Wis. Stats. 19.85(1)(e) for the purpose of conducting other specified public business, whenever competitive or bargaining reasons require a closed session (Property Purchase) Motion by Scott Seager, second by Mary Nicoson to adjourn to closed session pursuant to Wis. Stats. 19.85(1)(e) for the purpose of conducting other specified public business, whenever competitive or bargaining reasons require a closed session (Property Purchase) Motion carried on a roll call vote with all members voting yes. Reconvene in Open Session Possible action on closed session matters Motion by Benny Stichmann, second by Scott Seager to present offer for 2919 Main Street property to the Village Board contingent on satisfaction of attorney’s contingencies in the amount of $312,000. Motion carried 3-1 with Mary Nicoson voting no and Alex Alger abstaining. Old Business 1. Discussion and possible direction to staff regarding revolving loan fund and facade grant programs Tanya Fonseca presented information to the CDA on revolving loan fund options. She recommended the Village have adequate reserves to fund if a loan is in default. She reviewed general programs and frameworks and suggested partnering with a local financial institution as well. She also discussed the Wisconsin Women’s Business Initiative Corporation could be a potential partnership for loan administration.  COMMUNITY DEVELOPMENT AUTHORITY MINUTES VILLAGE OF EAST TROY October 28, 2019 Page 2 of 2 Mary Nicoson offered to write a business plan for the revolving loan fund and stated she anticipates she will have something for the CDA to review by January. Tanya will share an example from Aurora, Illinois with Mary. Tanya also reviewed facade grant materials she distributed for members to review and discuss at the next meeting. She discussed considerations such as who will review the grants, whether it will be a reimbursement program, the properties it will include, and how this may assist with property owners complying with design standards within the downtown design district. 2. Update regarding potential historical designation and signage for square Tanya Fonseca discussed the process for historical designation with the CDA. She expressed the need to proactively discuss this option with the community. Hiring consultant that will see the process through is recommended by the State. The consultant will attend meetings, compile files, etc. A rough estimate for the cost of a consultant is $10,000. The benefit of this designation to businesses is it can make funding available for projects. The designation does not change building standards unless tax credits are being sought. Tanya also mentioned Waupan recently established a district and may be a good resource for questions. We can preliminarily take pictures and submit application to the state to see if the designation is possible, which is a low risk. Benny Stichmann offered to reach out to members of the historical society to see if there was an interest in facilitating this part of the process. New Business 1. TIF presentation This item was tabled until next month 2. Review of priority list with possible recommendations for future agendas During the course of other discussions the CDA prioritized the façade grant program and revolving loan program ahead of historical designation. Adjourn Motion by Mary Nicoson, second by Alex Alger to adjourn at 7:37 p.m. Motion carried. Respectfully Submitted: Eileen Suhm, Administrator/CDA Executive Director