Members reviewed current financials. Motion to approve financials & pay current bills, Donnie Pitts, 2^nd, Alvin Engelke. Motion approved. It was noted that the previous meeting, in February, did not have a quorum and therefore no minutes were presented for approval.

The LKADC’s yearly application for LED grant funds from the State Development Office is due in Charleston by April 30^th. A resolution was presented to the board, authorizing President Dan McDonald to sign all documents and contracts necessary to receive these funds. Motion: Robert Lowe, 2^nd, Donnie Pitts. Motion approved. We are applying for $50,150.00 this year.

There was extensive discussion regarding the possible purchase of a tract of property, currently owned by the Forestland Group, that is located at the intersection of Rt. 5 and Bonnette Rd. in Wirt County. There is approximately 176 acres in the parcel, and the price is $150,000. That price is subject to reduction however, when a $30,000 timber contract is executed. So the final asking price is $120,000. Senators Boley & Helmick have secured tentative grant funding of $75,000 for the LKADC, and the county commission will act as applicant for the funds. There is low-interest loan money available through MOVRC that can cover the rest of the purchase price and legal costs associated with the purchase. Diane Ludwig has spoken to MOVRC Director Jim Mylott and it will be possible for the LKADC to borrow funds and not have to make a payment till the upper part of the land, which is not suitable for business development, can be sold. Motion to proceed with property purchase and loan application, Alan Rollins, 2^nd, Donnie Pitts. Motion approved.

Meeting adjourned. Next meeting will be scheduled when more is known about how the property purchase is coming along.