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HomeMy WebLinkAbout1991.01.09_OEDA MinutesOWASSO ECONOMIC DEVELOPMENT AUTHORITY 0 MINUTES OF REGULAR MEETING WEDNESDAY, JANUARY 9, 1991, 12:00 NOON OWASSO CITY HALL CONFERENCE ROOM, 207 S. CEDAR 1. Call to order Brenda Lawrence called the meeting to order at 12:22 p.m. 2. Roll Call Present: Alan Anderson Frank Enzbrenner Tom Kimball Brenda Lawrence Absent: Mark Thompson Patricia Marlar Bill Retherford Staff Present: Richard Hall Sherry Lambert Rodney Ray 3. Consideration to approve the Minutes of the December 19, 1990 Special Meeting. Motion was made by Alan Anderson and seconded by Frank Enzbrenner to approve the Minutes of the Special December 19, 1990 meeting with the correction that the phrase "Tom Kimball expressed a reservation about voting for future business without having sufficient time to review the item" should be inserted under minutes item 7 instead of item 8. A vote on the motion was Aye 4, Nay 0, the motion carried 4 -0. 4.. Consideration to approve the Warrants. The Authority discussed the claim of the Chamber of Commerce for $525.00 in accordance with the contract approved at the last meeting to provide services to the Authority. Tom Authority discussed the upgrade of the Chamber of Commerce computer that had been approved in contract discussions. Motion was made by Alan Anderson and seconded by Tom Kimball to approve warrants in the amount of $525.00. The vote on the motion was Aye 4, Nay 0, the motion carried 4 -0. 5.. Discussion of the Financial Statement Sherry Lambert distributed and explained the Financial Report to the Authority. The Authority discussed and received the Report. Owasso Economic Development Authority Minutes of January 9, 1991 Page 2 6. consideration of a release of employment contract between Richard Hall and the Owasso Economic Development Authority Rodney Ray and the Authority discussed the item. Motion was made by Alan Anderson and seconded by Tom Kimball to approve the item. A vote on the motion was Aye 4, Nay 0, the motion carried 4 -0. 7., Director's Report Richard Hall and Rodney Ray discussed economic development in the area. 8.. Attorney's Report There was no Attorney's Report. 9,, Unfinished Business There was no Unfinished Business. 10. New Business There was no New Business. 11. Adjourn Motion was made by Alan Anderson and seconded by Tom Kimball to adjourn the meeting. A vote on the motion was Aye 4, Nay 0, the motion carried 4 -0. The meeting was adjourned at 1:00. Cha rrman ( Secretary Date Approved MEMORANDUM TO: Owasso Economic Development Authority FROM: Richard Hall, Economic Development Director SUBJECT: Director's Report DATE: January 9, 1991 STATUS OF THE WOODS PRECISION PRODUCTS DEAL We have received verbal approval of the SBA financing portion of the loan package for the machine shop. Verd- Ark -Ca, the Small Business Administration and the Oklahoma Department of Commerce continue to work on the details of the financing. We should hear of the final commitment of the institutions by the end of this week. I understand that in the future the SBA will require 30% equity on start -up businesses. Existing businesses will be required to provide 10 % down for loans. The equity requirements and ODOC's repayment position in loan repayments had been the sticking points for the Woods deal. John Mays is contemplating a closing date of the end of this month for the financial package RESULTS OF THE PRINTER, COPIER, SCANNER AND FURNITURE AUCTION The auction was held January 8th at 10:00 a.m.. Jim Ablett, Kim Phelps and Leonard Pirtle of the Owasso Free Will Baptist Church were present to bid on the equipment. Others present for the proceedings were Janice Fields, Terri Houdyshell, Vickie Nance, Judy Pruitt, and me. I presided of the auction and bidding began promptly at 10:00 and was completed by 10:09. The successful bids were submitted as follows: Hewlett Packard LaserJet II laser printer, SN 2818J53482 BIDDER: Jim Ablett for the Owasso Chamber of Commerce PRICE: $100.00 Hewlett Packard ScanJet scanner, SN 2709J13202 BIDDER: Jim Ablett for the Owasso Chamber of Commerce PRICE: $50.00 Conference table and 10 conference chairs BIDDER: Jim Ablett for the Owasso Chamber of Commerce PRICE: $150.00 Canon NP -2015s Copier with stand, SN CGU12711 BIDDER: Jim Ablett for the Owasso Chamber of Commerce PRICE: $225.00 . w E Iq O.E.D.A. Director's Report January 9, 1991 Page 2 Mr. Ablett submitted a check for 10% of the bids as was required by the terms of the auction. The remainder of the cost must be submitted within ten days.