06-03-1993
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CITY OF EDGEW A TER
INDUSTRIAL DEVELOPMENT BOARD
REGULAR MEETING
JUNE 3, 1993
6:30 P.M.
Chairman Martin called to order a regular meeting of the Industrial Development Board at
6:33 p.m., Thursday, June 3;1993, in the Conference Room of City Hall.
ROLL CALL:
Members present were Mr. Porta, Mr. Byrd (newly appointed member), Ms. Rymsza, Mr.
Fong, and Chairman Martin. Ms. Swiney was recorded absent. Also present was Sondra M.
Pengov, Secretary.
APPROVAL OF MINUTES:
The March 22, 1993 and April 1, 1993 minutes were presented for approval. Ms. Rymsza
moved to approve the minutes of March 22, 1993 as corrected, seconded by Mr. Fong.
Motion CARRIED 4-0.
Mr. Fong moved to approve the minutes of April 1, 1993 as corrected, seconded by Mr.
Porta. Motion CARRIED 3-0. (Ms. Rymsza was unable to vote as she was absent from the
April meeting)
The minutes of May 6, 1993 were presented, but there were not enough members present at
the meeting to vote. The Chairman asked that the May 6, 1993 minutes be held until the next
scheduled meeting.
Chairman Martin introduced the new board member, Mr. Charles Byrd, who briefly reviewed
his background. The Chairman expressed his pleasure in having Mr. Byrd with his expertise
in banking and finance on the Board and also brought Mr. Byrd up to date as to what the
Board has been discussing as of late.
Chairman Martin asked if someone would attend the June 7, 1993 City Council meeting
because he would be unable to attend. Ms. Rymsza agreed to attend in the Chairman's
absence.
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CONTINUED BUSINESS:
Economic Development Line Item in City Budget
Economic Development Trust Fund
Chairman Martin informed the Board that the changes had been made to the memos addressed
to the Mayor and City Council. The Board agreed that the changes where correct. Ms.
Rymsza then moved to have the and memo sent to the Mayor and Council after the
mentioned corrections are made, seconded by Mr. Fong. Motion CARRIED 5-0. Ms.
Rymsza also moved to have the memo (Suggested membership/composition requirements for
members of the proposed Economic Development Board) sent to the Mayor and Council as
corrected, seconded by Mr. Fong. Motion CARRIED 5-0.
Chairman Martin and the Board discussed in length the various possibilities involved in
acquiring low interest loans, possibly from the government. Mr. Byrd suggested having
someone from the banking industry investigate low cost programs and report their findings to
the Board. Mr. Byrd also mentioned the possibility of having seminars to educate the public
on funding of small loans.
Chairman Martin explained to the Board how an Economic Development Trust Fund worked.
Expenditure Control - Board Budget
Chairman Martin reviewed budgets from past years and said a recommended budget is needed
for the coming fiscal year. After considerable discussion the Board recommended a figure of
$3,500 for the new budget.
The Chairman also requested anyone wishing to attend a seminar/workshop to please notify
the him so that he is able to keep track of the out going funds from the budget.
NEW BUSINESS:
Review of By-Laws
Chairman Martin stated at a previous Council meeting the Council suggested that the Board
review their by-laws to change wording from industrial development to economic
development. Chairman Martin also said the Council would like the Board to make
recommendations to them as to what the makeup of the proposed Economic Development
Board should be.
Industrial Development Board
Regular Meeting
June 3, 1993
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Volunteer to Attend Disaster Preparedness Conference at the Ocean Center
Chairman Martin asked the members to make an attempt to attend this seminar.
CHAIRMAN AND BOARD MEMBER REPORTS:
Chairman Martin said twenty-five of the "Engine To Drive Edgewater's Future Economic
Growth" brochure have been received and distributed. He also said the remaining seventy-
five brochures will be distributed as soon as they are received.
ADJOURNMENT:
There being no additional business to come before the Board a motion was made and
approved to adjourn. The meeting adjourned at 8:40 p.m.
Minutes respectfully submitted by:
Sondra M. Pengov, Secretary
Industrial Development Board
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Industrial Development Board
Regular Meeting
June 3, 1993
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