MINUTES OF THE REGULAR MEETING OF THE INDUSTRIAL DEVELOPMENT AUTHORITY OF THE CITY OF CASA GRANDE HELD NOVEMBER 18, 2009 IN THE CITY HALL COUNCIL CHAMBERS, 510 E. FLORENCE BLVD., CASA GRANDE, ARIZONA, AT THE HOUR OF 4:00 P.M.
MEMBERS PRESENT: David Fitzgibbons Vice President/Acting President
Tommy Caywood Secretary/Treasurer
Kate Kenyon Member
Kirk McCarville Member
David Brett Benedict Member
MEMBERS ABSENT: Richard O’Neil Assistant Secretary/Treasurer
Dennis Jenkins Member
Terry Strain Member
OTHERS PRESENT: Margaret Pieper, Recording Secretary
Call to Order
Acting President Fitzgibbons called the meeting to order at 4:06 p.m.
Roll Call
Roll call established a quorum was present.
Welcome New Member – Brett Benedict
Acting President Fitzgibbons extended a warm welcome to new member, Brett Benedict, and expressed his appreciation to Brett for serving on the Board.
Ratification of Donovan Kramer Sr. Memorial to the U of A School of Journalism
The Board recognized the late Donovan Kramer Sr. for his 30 plus years of service to the IDA Board. Acting President Fitzgibgbons and Member Caywood made a joint decision to send a memorial contribution to the University of Arizona School of Journalism in memory of Donovan Kramer Sr. Both the letter sent with the check and the thank you letter received were shared with the Board. Member Caywood moved to ratify the gift of $300 to the University of Arizona School of Journalism. Motion was seconded by Member Benedict and carried unanimously.
Approval of Minutes – August 26, 2009
Member Caywood moved to approve the minutes of the August 26, 2009 meeting as mailed to the members with they correction of the spelling of Bianco Road under Discussion Item #1. Motion was seconded by Member Kenyon and carried unanimously.
Approval of Treasurer’s Report
Treasurer Caywood summarized the Treasurer’s Report. One of the Certificates of Deposit renewed at 2.45% for four years with a clause the IDA can take the money at any time during those four years without a penalty. The property insurance with State Farm was cancelled after checking around and finding a better rate for all three buildings with Farm Bureau Mutual Insurance Company. Member Kenyon moved to approve the Treasurer’s Report as presented and the new Certificate of Deposit at Compass Bank for four years with the option to change it with no penalty. Motion was seconded by Member McCarville and carried unanimously.
IDA Board Member Vacancy Discussion/Recommendation
Acting President Fitzgibbons stated there is a Board member vacancy with the passing of Donovan Kramer Sr. who was also President of the Board. The Bylaws state the Vice President shall perform the duties of the President in this situation. The current vacancy was advertised by the City Clerk’s Office with a November 16, 2009 deadline to apply. One application was received from Kara Cooper. The Bylaws state the IDA Board shall recommend to the City Council persons to fill the vacancy. Member Caywood moved to recommend Kara Cooper to the City Council for appointment to the IDA Board. Motion was seconded by Member Kenyon and carried unanimously.
Officer Vacancy/Election
Member Caywood moved to nominate Member McCarville to serve as Vice President until the annual meeting in January. Motion was seconded by Member Kenyon and carried unanimously.
Nominating Committee Appointment/Annual Meeting Date
Acting President Fitzgibbons appointed Member McCarville, Member Jenkins and Member Kenyon (Chairperson) to serve on the Nominating Committee. The committee will meet and present a slate of officers at the annual meeting which will be held on January 20, 2010.
Discussion without Voting
Member McCarville suggested checking into safe investments with a better yield, such as bonds, to generate a better rate of return on the IDA’s money. Member Caywood will check into bonds and compare the yield to the current interest received on Certificates of Deposit.
Call to the Public
Acting President Fitzgibbons invited the City Manager to speak. City Manager Thompson had nothing further to add to the meeting.
Adjournment
Member Caywood moved to adjourn the meeting. Motion was seconded by Member Benedict and carried unanimously. The meeting adjourned at 4:39 p.m.
Submitted by Margaret Pieper, Recording Secretary of the Industrial Development Authority of the City of Casa Grande, to the City Council, subject to the Authority’s approval.
Approved this _______ day of _________________________, 2010 by the
Industrial Development Authority of the City of Casa Grande.
ATTEST:
Secretary of the Industrial Development
Authority of the City of Casa Grande
