Committee Minutes
MINUTES
Growth Fund Committee Meeting
Office of Urban Development Conference Room
1405 First Avenue North
Grand Forks, ND 58203
May 18, 2010
1. Roll Call
Present: Eliot Glassheim, Dwight Thompson and Doug Christensen. Also present: Greg Hoover, Hal Gershman, Keith Lund, Rachel Gornowicz, and Melanie Richardson. Absent: Mike McNamara and Terry Smith.
2. Approval of Minutes – April 20, 2010: Motion by Dwight Thompson, second by Eliot Glassheim to approve minutes from the previous meeting on April 20, 2010. All present voted aye. MOTION CARRIED.
3. Other Business:
PACE Loan Request from Countrywide Sanitation Co.:
Keith introduced Rachel Gornowicz from Countrywide Sanitation who gave a brief history on the company along with information regarding the future business expansion plans. The company is requesting a PACE loan in the amount of $22,000 for real estate, and a second PACE loan in the amount of $4815 for equipment. The repayment terms of both loans are consistent with current PACE loan policy.
Motion by Dwight Thompson, second by Eliot Glassheim to approve both PACE loans for Countrywide Sanitation Co. All present voted aye. MOTION CARRIED.
4. Project Update:
None.
5. Adjournment:
Meeting adjourned at approximately 4:38 p.m.
_____________________________ _____________________________
Melanie R. Richardson Doug Christensen