Macoupin County Economic Development Committee met May 8.
Here is the minutes provided by the committee:
I. CALL TO ORDER
PRESENT: Armour, Lewis, Reiher, Rull, Schmidt, Vojas, Dragovich, Duncan
ABSENT: Starr
II. AGENDA ITEMS
1. Macoupin Valley Bike Trail Presentation
Representatives from the Macoupin Valley Bike Trail were present to discuss their bike trail project. They are hoping have trail connecting Virden to Girard. They have already done significant fundraising towards the project, but would be applying for a new grant at the end of the year that requires a government sponsor. Dragovich suggested having them reach out the Public Health Department to discuss working with them on the grant and having the County serve as their sponsor.
2. Revolving Loan Fund Application
Adam Tallman of Gillespie presented on his application for a revolving loan. He owns three business, Farmers Insurance, Dingers of Gillespie which is a indoor batting cage business and On the Fringe an indoor golf simulator. He had recently purchased the old Drew Ford building and renovated it for these three businesses. He was seeking $57,000 loan. He would use the loan for these improvements:
- Opening 'Dugout' off the south part of Dingers for parents to sit and watch practice and allow for equipment storage.
- Paint the building and gutters to cover the stained logo - Pay for the labor of new sidewalks
- Solor panels
- A/C unit in Dingers to suck humidity out
- New signage
- Working capital
Tallman has existing debt in loans for the building and batting cages, but he believes the profit from the insurance company covers the expenses for the businesses and the other two businesses are in addition to. He said he would have no problem with a second option lien being put on the building for collateral.
Motion by Schmidt, seconded by Vojas to approve granting a 5 year loan of $57,000 with 5% interest being given to the Adam Tallman.
RESULT: MOTION TO RECOMMEND [UNANIMOUS]
MOVER: Larry Schmidt, Member
SECONDER: Roberta "Sissy" Vojas, Member
AYES: Armour, Lewis, Reiher, Rull, Schmidt, Vojas
ABSENT: Starr
3. ITS Bike Trail Presentation
No one from the ITS Bike Trail was present.
4. Enterprise Zone Renewal Application
Dragovich discussed that the current enterprise zone will expire next year. Due to the changing requirements since our zone was approved in the early 1990s, it is nearly impossible for us to apply on our own successfully. This contract would bring along a company who has done many successful applications for other areas. Should we agree to it, we would pay $4,000 a month for the next year and a half for a total of $60,000. If our application is successful, we would pay an additional $30,000. The city of Carlinville has already pledged $25,000 towards that cost. The goal would be to get the other cities and villages to pledge $1 per person towards the application cost.
http://macoupincountyil.iqm2.com/Citizens/FileOpen.aspx?Type=15&ID=3502&Inline=True
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