Tremont West Development Corporationnn

TREMONT WEST DEVELOPMENT CORPORATION BOARD OF DIRECTORS MEETING

May 18, 2006

Present: B. Bergen, M. Hundt, L. McLaughlin Murray, J. Boylan, S. Smith, B. Rikker, C. Krosel, B. Blough, S. Nagy, P. Pavarini, R. Vinci, K. Moss

Excused: S. Catania, N. Swerdlow, M. Leslie

Staff: C. Gilson

The meeting began at 6 p.m. with approval of April Minutes: B. Rikker moved to approve. L. McLaughlin Murrary moved to second the motion. All voted in favor.

Projects/Programs/Committees:
Economic Development:
S. Nagy reported that the SWOT survey is still being distributed. Colleen, Phil Pavarini, and Scott Nagy went door to door in a special outreach to residents.

Model Blocks Program: A $50,000 grant targeting curb appeal and items such as signage, lamp posts, trash receptacles will focus on the area of West 5th/ Professor/Jefferson as part of the Valley View revitalization.

Brevier/APL development: Lincoln Heights Block Club has met with the developer regarding some issues.

Scranton Village: City has granted a contract extension for HTF second mortgage funds for five remaining unites. Corning house sold.

Clover Townhomes: Developer has upcoming meeting with BOZA.

Valley View: Site preparation under way for rental units for Phase I --
141 units to completed by 12-31-2007.

Gospel Press: Management has moved to former TWDC offices.

Bergen Village: three models completed; three units pre-sold.

West 7th/McCreary Development: Developer met with block clubs re: alley access to Thurman. Consensus needed re: "street view" of property.

Paint Program and Home Loan program: Applications being received.

Finance:
J. Boylan reviewed accounts receivable issues. CBDG payments are not timely. Accounts are being re-structured to reflect cost method as opposed to an equity reporting format. Information regarding 2406 Professor's finances was discussed.

L. McLaughlin Murrary moved that TWDC advance $10,000 (as a repayable sum) to 2406 LLC for bill assistance. S. Smith seconded. All voted in favor.

L. McLaughlin Murray moved to accept April financial statements with the understanding that item 1105 restricted savings will be properly defined. P. Pavrini moved to second. All voted in favor.

2006-2007 Budget:
Additional CBDG funds from Ward 14 include funding for a code enforcement officer. Because of increased medical insurance costs, there has been a 35% increase in benefit costs for staff.

C. Krosel moved to accept the proposed 2006-2007 budget. L. McLaughlin Murray moved to second this motion. All voted in favor.

The Finance Committee is working on a fiscal sponsorship agreement. Draft copies will be sent to the board and organizations whose funds TWDC holds.

Fund-Raising:
Reverse raffle and dinner tickets are still available. Silent auction items are needed. Theme/colors: white and black.

Community Organizing:
Tri-C meeting was held regarding GEM explosion in Flats and environmental impact.
Tour of Mittal Steel set for May 24th. Forty-five people have signed up.
McCormack Baron staff will meet with PTV and others on 2nd Tuesday in June.
Arts in August: Another Dance group is being recruited because of uncertain future of Ohio Ballet. Shakespeare Festival is on schedule.
Tremont Gardeners Flower Sale - May 20th - Lincoln Park

Property Management:
CHN vacancy rate and delinquency rates have decreased. Drug and crime issues have forced eviction at West Virginia apartments.

New Business:
Innerbelt Bridge design public meeting - June 7th at 4 p.m. - 8 p.m. at Annunciation Greek Orthodox Church. Presentations at 5 p.m. and 6:30 p.m.

Meeting adjourned at 7:45 p.m.