05/07/2019-4A-Minutes-Regular
MINUTES: 4A Sanger Industrial Development Corporation
May 7th, 2019
MEMBERS
PRESENT: Don Gillum, Elizabeth Springer, Fred Yeatts, Dennis Dillon, and Victor Gann
MEMBERS
ABSENT:
OTHERS
PRESENT: Director of Economic and Community Development Shani Bradshaw
1. Call Meeting to Order.
1:02 PM
2. Approval of the 4A Minutes for the April 4, 2019 Meeting.
Elizabeth Springer made a motion to approve minutes.
Seconded by Dennis Dillon. Motion passes unanimously.
3. Discuss, Consider and Act on Amending the FY 2018-2019 4A Industrial Development
Corporation Budget for Expenditures up to $277,826 to Pay-Off Debt Service issued for the
Warehouse at 103 Bolivar Street.
Shani explains that we do need to amend the budget before it can be paid off. So she is
presenting it to the board for the amendment. She said there is zero penalty to pay it off.
This will be on the Council agenda on June 3rd for approval.
Current balance is $287,095.00. If the loan is paid off on June 5th the payment would be
approximately $277,000.00. Early payoff will save approximately $33,000.00.
Elizabeth Springer makes a motion to amend budget. Seconded by Victor Gann. Motion passes
unanimously.
4. Input From Citizens.
No Citizens
5. Adjourn.
1:12 PM