Sachem Fund Board

Sachem Fund Committee 9/23/09 Room 335 Meeting Notes Attendees: Co-Chairman Alderman Bill Nash, Co-Chairman Bill Quidgeon, Jr., Joseph Ruffo, Comptroller, Mark Brown, Mohegan Tribal Council, Peter Davis, Director of Planning, and Recording Secretary Evelyn Bessette Not Present: Lottie Scott, Mayor Benjamin P. Lathrop and James Gessner, Mohegan Tribal Council Members of Press Present: Claire Bessette, The Day 1. The Meeting of the Sachem Fund Committee was called to order at 5:38 p.m. 2. It was determined a quorum was present 3. A motion was made by William Nash, seconded by Bill Quidgeon to approve the Minutes of the May 6,2009 with the following corrections: "Members Present from the Mohegan Tribe, James Gessner and Bill Quidgeon, Absent Mark Brown", Motion camed in due form. 4. Joseph Ruffo explained the financial report of the Sachem Fund balance of $76,2 10.61, (attached "Attachment A"). After discussion it was determined a letter will be drafted to the grant awardees who have not yet drawn their award, to request the timeline of their project in order to have a more true Sachem Fund Balance of funds to disburse. Letters will be reviewed by all members of the Sachem Fund prior to mailing. Mr. Ruffo also submitted a draA application^^ to the Sachem Fund (Attachment "B") for review and input fiom the Committee. 5. Bill Nash submitted his suggestions for the fbture grant awards of the Sachem Fund for review and discussion (Attachment "C"). After much discussion it was determined Peter Davis will look into the legalities of the Sachem Fund assisting with funding to partially subsidize a grant writer to assist the minority businesses and women owned businesses to apply for additional Federal and State grant funding as a way of expanding the outreachof the Sachem Fund. o ill Nash and Bill Quidgeon will explore the loan processes and parameters through the banking industry to expand the scope of services of the Sachem Fund. Next meeting date - Wednesday October 21,2009 5:30 p.m. Room 335 Citizen Comment: Shiela Hayes of the NAACP suggested the Sachem Fund Committee partner with more agencies who assist organizations financially. Shiela also commented on the positive way the Sachem Fund Committee is exploring the issue of assisting with the funding for a grant writer to expand the outreach of the Sachem Fund. Ms. Hayes final comment was for the committee to be cognizant of the timelines of the Public Hearings for the 2010 budget when scheduling the Sachem Fund Meetings for grant awards in the next round. Meeting adjourned at 6:25 p.m. Respectfully submitted by: Evelyn Bessette, Recording Secretary  Evelyn Bessette From: Joseph Ruffo [jruffo@cityofnorwich.org] Sent: Wednesday, September 23,200910:54AM To: 'Evelyn Bessette'; 'Ben Lathrop (E-mail)' Subject: FW: Sachem Fund Report an Sachem Fund for meeting tonight. $76,210.61available. $40,030.00returned. 40,000came from UCFS far Welcome Center, and $30 from Fire Dept fire detector program.$106,942.63 has not been drawn down from apprwed requests. Joe Fmm: Patricia Osten [mailto:posten@cityofnorwich.orgJ Sent: Wednesday, September 23,2009 10:34 AM To: 'Joseph Ruffo' Subject: Sachem Fund Thanks, Pat Osten Accounting Generalist City of Norwich 100 Broadway Norwich CT 06360 860-823-3710 860-823-3812 (Fax)  Sachem Fund Account September 23,2009 Funds held waiting drawdown Downtown NRZ City Manager's Office - 26 Shipping St Norwich Public Works - Buckingham Porches Norwich Recreation Department - Boating Program Huntington Place Improvements Norwich Tourism Summer Concert Series Total  Sachem Fund Account September 23, 2009 Revenue: City of Norwich 2007-2008 Mohegan Tribe City of Nolwich 2008-2009 Mohegan Tribe City of Norwich 2009-2010 Interest Income Other Book Sale Unspent Funds Returned Total Sachem Fund Distributions: Approved by City Council 7-22-08 Approved by City Council 5-1 9-09 Total Available for ~istribution  SACHEM FUND GRANT REQUEST FORM DATE: GRANT REQUEST FORM CUT OFF DATE: NAME: ADDRESS: PHONE/FAX/E-MAIL: PERSON TO CONTACT: PHONE: E-MAIL : GRANT REQUEST BUDGET AMOUNT: PLEASE ATTACH THE FOLLOWING ACTUAL FINANCLPJ,REPORT - YTD CURRENT BALANCE SHEET AUDITREPORT HAVE YOU EVER RECEIVED FUNDING FROM THE SACHEMFUND: YI~S NO PROPOSED PROJECT: PROJECT TIMELINE: PROPOSED OBJECTIVES: ANY FUNDS TO BE RECAPTURED, IF SO, HOW MUCH: PERIOD OF TIME FOR WHICH FUNDS ARE BEING REQUESTED: INDICATE HOW THIS MEETS THE GOALS OF THE SACHEM FUND: PROJECT W A C T ON COMMUNITY:  Sachem Fund Ideas and Suggestions 1. Allowing and or limiting organizations and or agencies to one (1) application per round. 2. Considering limiting the overall amount awarded per application and or the total amount distributed per round. (Budgeting of the fund in general). 3. Establish time h e s for the acceptanceof applications for consistency propose. 4. Example: March 1' open and begin receiving applications. April lSfclose the process. 3rdweek of April begin the review portion of the process. Allow presentations (2min max) May lS'complete reviewing of applications and vote. June 1' award funding. 5. Suggestions with regards to viewing applications: Impact directly to the community Where (i.e. projectslprograms) are the Might there be funds which could be recaptured. Time lines and or time frames for completion of programs or projects 6. Need for clarification of the phrase "Economic Development" Suggestions: To improve the quality of life to and for a community by: * Attracting quality family wage job or jobs. * Encourage private investments. * Enhance amenities available to the citizen of Norwich. * Improve the image of the city to prospective investors, visitors, residence and existing businesses. 7. Continue researching and implementing a Loan Program category. Example: Assisting in securing low interest loans through a local lending institution, either long term or short terms. Even may consider percentage repayment loans situation. 8. Ranking or grading system with regards to prioritizing projects.