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Citizen Advisory Aug Agenda June Min.City of Greencastle, Indiana CITIZENS ADVISORY COMMISSION FOR INDUSTRIAL DEVELOPMENT AGENDA I. Call to Order II. Approval of Minutes - June 6, 2012 III. Financial Report IV. Old Business SVM:lah A. BES Center Funding Options B. Best Practice Symposium Wednesday, August 1, 2012 8:00 a.m. City Hall V. New Business A. Ivy Tech Community College Match/Banner Graphic Donation VI. Development Center Update VII. Other Business to Come before the Commission cacfid \cacfidag080112.1ah City of Greencastle, Indiana CITIZENS ADVISORY COMMISSION FOR INDUSTRIAL DEVELOPMENT June 6, 2012 MINUTES The meeting was called to order by Chairman Bob Hutchings with members: Ken Eitel, Bill Marley, Mayor Sue Murray, Dr. Carol Steele and Dave Wells. Ex Officio member Alan Stanley was present. Bill Dory of the Greencastle/Putnam County Development Center was in attendance. Elaine Peck, Executive Director of the Putnam County Community Foundation was the guest. Approval of Minutes Minutes of the May 2, 2012 meeting were presented. Mr. Marley moved to approve the minutes. Mr. Wells seconded and the motion carried. Putnam County Community Foundation Check Presentation Ms. Peck was present to provide a check from the Putnam County Community Foundation. She began by distributing "At a Glance" providing general fmancial history for the Foundation and a copy of the Industrial Development Fund Activity Report for the first quarter of 2012. She further explained the Foundation has 225 funds, most of them restricted. They have only two economic development funds, one being the Citizens Advisory Commission for Industrial Development (CACFID) fund and one for the Greencastle/Putnam County Development Center. The Foundation has been around for 26 years and has received $19- million dollars, giving away $8.3- million with $20- million remaining. The CACFID Industrial Development Fund was established in 1996, Ms. Peck continued. CACFID has received $700,000 over time. Originally, there were two funds that were combined in 2002 or 2003. This year's payment is $54,252, which is being paid in two installments, therefore Ms. Peck presented Mr. Hutchings with a check for $27,126. She explained the second half would be distributed in August. Originally, CACFID and the city provided $650,000 of the industrial development funds to the Foundation which the Lilly Endowment matched, Mr. Marley noted. He asked if Lilly had given a dollar- for - dollar match or a one - dollar- for -two match, to which Mr. Hutchings replied the Foundation received $325,000 from the Lilly Endowment. Ms. Peck announced that each one of their funds and entitlements has its own web page. A photograph was taken of the Commission with Ms. Peck, who then thanked members and left the meeting. Financial Report Mayor Murray explained there had been little activity since the last report. Concerning cash flow, as Ms. Peck just reported, CACFID will receive $54,000 from the Foundation, and the city's Parks CACFID MEETING Page 2 June 6, 2012 and Recreation Department has five annual $7,000 loan payments remaining The only known obligation of CACFID funds is to match Crown Equipment's two remaining annual donations to Ivy Tech totaling $23,000. Old Business Ivy Tech Community College Match/BES Center At the May meeting, Becky Miller of Ivy Tech said the city has $206,553.20 of the $300,000 it could match, the Mayor stated. Ms. Miller suggested CACFID could match what was donated prior to establishing the city's match; match the Ivy Tech Family donations or match what the Community Foundation still has outstanding. Mayor Murray was not enthusiastic about just giving Ivy Tech the remaining matching funds, but would like to make certain the Business Entrepreneurship program becomes reality. The nursing program was their bread and butter on this campus, but Putnam County Hospital and Clay County Hospital cannot provide the acute care level of training required for the registered nurse program in sufficient numbers, Mayor Murray noted. Ivy Tech in Terre Haute has voted to support the BES director and someone to handle phones. Chain uian Hutchings asked Mr. Eitel what his confidence level was that Ivy Tech would pull off the entrepreneurship program. More community involvement and a board with local representatives would be important, Mr. Eitel believed. He would like certificate programs, office administration and a two -year entrepreneurship program. Mr. Eitel commented that a speaker series with presenters from within and outside the community is being planned. In response to an inquiry from Mr. Hutchings, Mayor Murray advised Ivy Tech will support an advisory board if it is a smaller group that meets eight times a year. Dr. Steele reported attending Ivy Tech's meeting and that she was very impressed with their progress. The BES Director position is to be 60 percent funded with full benefits, Mr. Eitel reported. It is a newl2 -month position, reporting to the Wabash Valley Chancellor. The original intent of CACFID's match has not been met, Mr. Marley commented. He asked if there were programs not being funded. The Mayor advised the nursing program has been cut back, but not due to financial constraints. Chairman Hutchings expressed concern with supporting the entrepreneurship program if it is being guided by part-time staff. Mr. Dory asked if there is a way for CACFID and the city to underwrite the program. CACFID MEETING Page 4 June 6, 2012 A great opportunity has come along, Mr. Hutchings stated. Mr. Marley reminded the Commission that they have always erred on the side of caution. Mr. Eitel believed it was a great opportunity for both colleges and the community. Although, Dr. Gary Lemon has a wonderful management fellows program, DePauw does not have business management classes or does not teach people how to make a business plan or the nuts and bolts of business. New Business CACFID Cash Flow Asking for the industrial development funds from the Putnam County Community Foundation might be a start in determining if the Foundation remembers the original agreement when CACFID placed the original $650,000 with the Foundation, Mr. Hutchings commented. Although Mayor Murray was on City Council at that time, Mr. Hutchings pointed out he, Mr. Marley and Mr. Stanley are the only members still on the Commission that were present during that time period. Mayor Murray reminded the group they could not ask for an amount that would take the fund below the original $650,000. With the current balance at $1- million, the city has certainly reaped the benefits, Chairman Hutchings commented. The request will have to go to the Foundation Board, Mayor Murray reported. They have agreed to specific requests in the past, and she suggested presenting the proposal to Ms. Peck first. The Foundation has only two economic development funds and they promote economic development as one of their objectives. Dr. Steele suggested going to Lilly Endowment to request funds for the entrepreneurship program. Stellar could be connected to it, with the Lilly funds to be used for another project. Mr. Dory suggested contacting DePauw about writing a five -year plan through the Management Fellows program, making it part of a larger project. With the success of economic development in Greencastle over the last 25 years, including the Tax Increment Financing district, the city has some negotiating room it did not have 25 years ago, the Mayor noted. She agreed to talk with the Foundation's Executive Director. Development Center Request Mr. Dory distributed a request for funding for 2012 and an Overview of the Greencastle/Putnam County Development Center. He requested $35,000 to maintain the operation of the Center and noted it is less than requested in recent years. He will also receive $20,000 a year over five years