HomeMy WebLinkAbout02-08-08 Draft CDC Minutes.docMINUTES OF
ANNA COMMUNITY DEVELOPMENT CORPORATION
SPECIAL MEETING
February 8, 2008 5:00 PM
The Community Development Corporation of the City of Anna met at 5:00 p.m., Friday, February 8, 2008, at the Anna City Hall Administration Building, 111 N. Powell Parkway (Hwy 5) Anna,
Texas to consider the following items:
1. Call to Order.
President David Crim called the meeting to order at 5:15 pm.
2. Roll Call and Establishment of Quorum.
David Crim, J W Finley, Joe Murphy, Jon Hendricks and Jessica Perkins were present. Duane Hayes and Joel Foltz were absent.
3. Citizen Comments
None
4. Consider/Discuss/Action regarding approving a Resolution Authorizing and Approving a Loan from the Office of the Governor Economic Development and Tourism Division, Authorizing the
Execution and Delivery of the Loan Agreement and Related Documents, Authorizing the Pledge of Sales and Use Tax Receipts, and Other Matters in Connection Therewith. (Texas Leverage
Fund Program)
City Manager, City Manager stated he had received construction bid for Phase 1. It will take $1,557,000.00 to construct Phase 1 of Slayter Creek Park. The City has current funds of 1.2
million for Phase 1. Roughly $338,000.00 is needed to complete the funding. If staff does not want to deplete funds to work on other park projects they may suggest taking out a higher
loan amount. Mr. Sanders went over the Texas Leverage Fund Loan Application and explained the different loan amounts that that CDC would qualify for. Mr. Sanders answered questions
from members. Jon Hendricks made the motion to approve borrowing $629,299.03 for 10 years, the max allowed, with $175,000 allocated for the restrooms. Any amount left over from the
restrooms goes back into the park fund for use on other park projects. Joe Murphy seconded the motion. Motion passes.
5. Adjourn.
Joe Murphy made the motion to adjourn at 5:30 pm. J W Finley seconded the motion. Motion passes.
ATTEST: APPROVED:
____________________________ ____________________________
Natha Wilkison, City Secretary David Crim, President