Tremont West Development Corporationnn

Tremont West Development Corporation
Board of Directors Meeting
24 August 2006

Present: Lynn McLaughlin Murray, Marcia Leslie, Scott Nagy, Chris Krosel, Rosemary Vinci, Sammy Catania, Bill Blough, Sandy Smith, Jon Boylan, Becca Rikker, Phil Pavarini

Excused: Karen Moss, Megan Hundt

Staff: Colleen Gilson

President Vinci called the meeting to order at 6:07 p.m.

I. Minutes of July Meeting:

Phil Pavarini proposed the following correction: Regarding the Village Capital Corporation resolution, a sentence should be added to the summary stating that the Board did vote in favor of this resolution-all voted in favor with the exception of Karen Moss who abstained.

Director Gilson pointed out that Directors Bill Blough and Megan Hundt were excused.

With those amendments, Scott Nagy moved to accept the minutes. Marcia Leslie seconded. All voted in favor.

II. Economic Development/Housing

Director Gilson had distributed representative partnership agreements to board members to assist in the understanding of the proposed partnership for the development of Valleyview Homes. Sutton Builders has organized Valleyview Tremont, Incorporated, LLC, for the construction of Valleyview Homes. Board members questioned who would be liable for the debt if the project falters. That liability would fall to Sutton Builders, Keith Sutton, and David Territo. Lynn Murray pointed out, however, that should Sutton Builders, Inc, Sutton or Territo default, ultimate loan responsibility falls with TWDC. In response regarding the assets of VTI, Sutton, et al, Director Gilson stated she had reviewed the financials statements for the guarantors and affirmed, in her opinion, that their assets would cover the liability. Further, Jon Boylan added VCC would not have accepted guarantees from each party had they not been satisfied with the assets of each.

After discussion, Scott Nagy moved that the Tremont West Development Corporation Board authorize its executive director, Colleen Gilson to execute a new partnership agreement with Valleyview Tremont, Inc., a project specific LLC set up by Sutton Builders for this projects, the development of Valleyview Homes. Marcia Leslie seconded. The vote was called and all voted in favor of the measure except Phil Pavarini who abstained.

There was some discussion re: the $900,000 second mortgage money which is now open to the entire Tremont statistical planning area.

III. Finance:

Jon Boylan reported 2406 Professor, is now making money. Three of the four units are rented.

A question came up re: the use of House Tour funds. The House Tour organizing committee contributes the funds for sustainable neighborhood projects. Last year's moneys went for the banners. There was some discussion re: need for sprinklers in Lincoln Park (which the city cannot afford). Additional funds needs need to be raised. Another proposal is for the purchase of closed circuit cameras and a base station to monitor the park area.

Preparations have begun for our yearly audit.

B. Riker moved to accept the monthly finance report and Lynn McLaughlin Murray moved to accept it. All voted in favor.

IV. Long Range Planning:

Our next Strategic Planning public meeting is set for September 12th at 5:30 p.m. (dinner) at St. Augustine Mylott Hall. TWDC and Paul Volpe's staff are seeking additional input from the residents re: points of the plan and suggested priorities.

V. Fund-Raising:

A September or October meeting will be set to discuss additional events.

VI. Community Organizing:

Groundworks and Verb Ballet had successful community performances at Lincoln Park in August. PTVV will hold their end of summer block club party and model blocks event on September 16th.

VII. Property Management:

TWDC has terminated its property management services to Ohio City Near West Development Corporation as of August 31st. Tenant and property files are being returned.

New Business:

I. Crime/ Public Safety:

Web e-mail is being utilized to inform community re: issues

One block club is investigating the installation of closed circuit cameras and setting up a base for monitoring.

Enforcement of curfews and park closings to prevent loitering

City work grants to provide period lighting

Attending Second District Meetings on the second Tuesday of the month

Civility program at Merrick House is being proposed for implementation

Other: Mutt Bowl - September 30th _- Becca and Sandy have tickets

II. Personnel:

C. Gilson has not posted position currently open at TWDC. She is continuing assessment of job duties.

Proposed end of summer get together for Board and staff possible.

There being no further business, Sandy Smith proposed to adjourn the meeting. M. Leslie seconded.

All voted in favor. Board adjourned at 7:50 p.m.