Little Kanawha Area Development Corporation
August 18, 2008
Meeting Minutes
The Board of Directors of the Little Kanawha Area Development Corporation (LKADC) held its regular meeting on Monday, August 18, 2008 at 7 p.m. in Elizabeth, WV. A quorum of members were present or represented by proxies. Members present: Donnie Pitts, Garland Martin, Robert Lowe Jr, Alvin Engelke, Joyce Sellers. Proxies: Jim Sullivan, John Rose, Gary Knight, Bryan Sims. Diane Ludwig, staff, was present.
Members reviewed June 2008 minutes. Motion to approve: Alvin Engelke, 2nd, Garland Martin. Motion approved. Members reviewed current financials. Motion to approve financials & pay current bills, Joyce Sellers, 2nd, Robert Lowe Jr.. Motion approved.
A report was given regarding current activity by staff, including business assistance, training, and grant applications. We’re still waiting on Hupp Surveying to finish the Industrial Park survey. Doyle has been contacted repeatedly about this matter.
Action items:
Microloan fund: At this point in time, $20,442.44 in interest that belongs to the LKADC has accumulated in the Microloan Fund account. Originally, board members chose to leave the money we were allowed (by SBDC regulations) to keep, in place in the fund account. That helped us build up the balance during a time when several loans were being made. Now, there is currently no loan activity, and the SBDC is debating what to do with the microloan funds set up around the state. Due to the fact that the LKADC has incurred considerable costs in managing this fund (legal costs, staff time, etc), staff recommended that this interest be drawn down and deposited in the main LKADC account. Kevin Twohig, SBDC staff member, has been made aware of the plan and didn’t see any problem with it, since the organization was legally entitled to the funds all along. Motion: transfer $20,442.44 from LKADC Microloan Fund account to LKADC LED account; Alvin Engelke, 2nd Donnie Pitts. Motion was approved.
Robert Lowe Jr., gave an update on the technology grant (security cameras) that Wirt County applied for.
Alvin Engelke gave an update on the various oil & gas issues being dealt with in the area. Increased leasing, Marcellus Shale, changes in lease wording and other topics were covered.
The board, by group consensus, agreed to help sponsor an oil & gas informational meeting in the area if one was needed. Also, staff is to add oil & gas information to the LKADC website, through creation of a special webpage devoted to the topic. Materials to be utilized on the site will be drawn from Penn State’s oil & gas information, with additional material added as we find it.
There being no further business, the meeting was adjourned.
Next meeting October 20, 2008, 7:00 p.m., at the Calhoun County Senior Citizens Center in Grantsville.