The regular meeting of the LKADC was held April 19,2004 at 7:00 p.m. at the Wirt County Development Authority Office in Elizabeth. Diane Ludwig called the meeting to order. Those attending included Members: Dan McDonald, Alvin Engelke, Larry McCallister (proxy), Keith Wilson (proxy), Robert Lowe, Dan Metz, Lew Full, Dick Ullum (proxy), Donnie Pitts (proxy). Staff: Diane Ludwig.

Financial records, expenditures and current bills were presented for approval. Motion to approve financials, Dan Metz, 2^nd, Alvin Engelke. Motion approved.

Minutes from December 2003 meeting were approved. Motion, Alvin Engelke, 2^nd, Dan Metz. Motion approved.

Resolution was presented authorizing Dan McDonald to act as representative of LKADC in order to sign LED grant contract. Motion, Lew Full, 2^nd, Robert Lowe. Motion approved.

There was discussion regarding possible application for a HUD RHED grant such as the one applied for unsuccessfully last year. Board consensus okayed trying this process again.

The board was updated on the fact that despite being approved for more microloan funds none have been forthcoming from the state. We are still awaiting word from the Development Office as to whether any money will be given out this year or not. Application was made in September 2003.

Staff requested permission to make an offer to the Wirt County Development Authority for property they own that is situated next to the former Ravens Metal plant in Elizabeth. This offer would be contingent upon the LKADC being a successful applicant for USDA RBEG (Rural Business Enterprise Grant) funds. The WCDA needs to sell this property and has it on the market, because they owe USDA money. The property does not have a lien on it but the WCDA made a verbal commitment to USDA to try and sell this property in order to be able to pay them back for a mis-handled grant from 1997. USDA is in favor of the LKADC purchasing this property and will work on the grant application process with us if the offer is approved.

Motion: Staff is authorized to make an offer of $80,000 for the property located between the Ravens Metal plant and the EMS building (excluding the SWA building which is on a separate lease); the offer is contingent upon successful application by the LKADC for USDA RBEG grant funds. The LKADC will spend a maximum of $1,000 from its existing funds for legal and closing costs if the deal is approved. The deal cannot be finalized until an MOU (Memorandum of Understanding) between the Calhoun Commission and the Wirt Commission is agreed upon, regarding disposition of this asset should the LKADC ever cease to exist. (USDA does not require this MOU; they feel the language contained in the LKADC charter offers sufficient protection. The commissioners have requested it). Motion, Robert Lowe; 2^nd, Dan Metz. Motion approved. (Note: Lew Full abstained from voting since this transaction will have to be approved by the WCDA board and he is a member of that board as well as the LKADC board.)

Staff gave an update on activities of the past several weeks. There was discussion regarding the Wells Lock project and the Palestine Hatchery. If Senator Boley wishes to get a letter of support from the LKADC regarding a study of supplemental utilization options for the Hatchery, motion was made to provide one. Motion, Alvin Engelke, 2^nd, Dan Metz. Motion approved.

There being no further business, the meeting was adjourned. The next meeting will be Monday, August 16, 2004, in Elizabeth.