Community Development Authority (CDA)

COMMUNITY DEVELOPMENT AUTHORITY MINUTES VILLAGE OF EAST TROY June 22, 2020 Page 1 of 2 Call Meeting to Order Roll Call Chairperson Holm called the meeting to order at 6:00 p.m. Present: Chairperson Jim Holm, Commissioners Benny Stichmann, Trustee Alex Alger, John Isleb, Mary Nicoson, President Scott Seager Absent: Others: Eileen Suhm, Administrator/CDA Executive Director Public Comment None. Approval of Minutes Minutes dated May 26, 2020 Motion by Trustee Alger, second by Commissioner Isleb to approve the minutes. Motion carried. Old Business 1. Consideration of message to be delivered for downtown square businesses Commissioner Stichmann stated he is comfortable postponing this until the businesses are comfortable with opening at full capacity. 2. Review and consideration of modification to Façade Grant program document based on 5/26/2020 discussion Motion by President Seager, second by Trustee Alger to approve the revised document. Motion carried. New Business 1. Discussion/Direction regarding services to be provided by Walworth County Economic Development Alliance for review of revolving loan fund application and some loan issuance administration The Commission discussed general terms of the program including: • Bringing the Walworth County Economic Development Alliance (WCEDA) proposal back to be discussed at the next meeting. • How long the application and loan approval process will take, potentially 30 days • Applications being submitted directly to WCEDA and the CDA Executive Director is notified of the application o The finance committee meets the second Friday of each month • The applicant paying the application fee upon submittal of the application or the option of a smaller upfront fee for initial review and the remainder if the applicant moves forward with the application process • Developing a printed explanation or letter that can be provided to potential loan applicants explaining the program • The loan manual being provided in advance of application submittal so the applicant is aware of expectations • The approval process and who has final approval authority  COMMUNITY DEVELOPMENT AUTHORITY MINUTES VILLAGE OF EAST TROY June 22, 2020 Page 2 of 2 2. Review of priority list with possible recommendations for future Based on discussion the Commission directed the revolving loan fund be placed on the July agenda and there was no further need to identify priorities. A question was raised regarding the checklist for modifying or opening a business on the website from 2016 and whether this is still current. 3. Discussion regarding next meeting date of July 27, 2020 – if necessary Will discuss the draft revolving loan fund program. Adjourn Motion by President Seager, second by Trustee Alger to adjourn at 6:41 p.m. Motion carried. Respectfully Submitted: Eileen Suhm, Administrator/CDA Executive Director