Quick Meeting
By PJ Martin
Editor
The Herald-News
The Edmonton/Metcalfe Industrial Development Authority held its regular monthly meeting on Monday, November 18th with only Donna Caffee and Judge/Executive Larry Wilson absent.
Chairperson Lisa Boswell declared a quorum present and asked if there were any changes, errors, or omissions in the minutes of the October 21 meeting. Matt Gallagher made the motion to accept the minutes as they were and the motion was seconded by Terry Garrett. The motion passed.
The Secretary-Treasurer Alley Bragg stated, “On the fiscal year 23 annual audit update, Jeff has actually finished with that and talked to us at the end of last week. He just has to get the paperwork together in the binders for us and get us the documents upload to DLG. He has not got that to us yet, but he said it’d be the first of this week, and as soon as he gets it to me, I’ll upload it to that portal.”
Bragg added that as yet no invoice had been received. Once the audit information is loaded to the DLG portal the fiscal court can schedule the Resolution for the TVA RDDAP funds. This must be done every year.
Bragg agreed to let them know as soon as she uploaded the audit. She then presented the monthly financial report. The account interest earned was $2.52. Pennington Stave Company has made its monthly payment on the ESB loan. The ending account balance is $26,423.51.
In other business, Boswell stated, “I’m hesitant to go forward with any of the information from the presentation last meeting, until we, I feel like we don’t have enough information about him, nor where He is getting his financing.”
Matt Gallagher added, “He don’t have a business plan.”
Jerry Garmon said, “I did the research … Some of his backing from that Black Pearl Capital, which is a very legit, very legit source. There’s stock model New York Stock chains, all nine yards, and they’re out of Switzerland. I think he mentioned out of United Kingdom is one of their base offices. So, they’re really legit backing, as far as being a real company….”
“… he was going to tie the land up for four years before he got around to doing anything, because I was getting 18 months out of that once … but I’m just, I think we just need more information before we go forth on anything yay or nay. I just don’t think we have enough to make a well, it was his, his presentation,” said Boswell.
Boswell then pointed out that the presentation material was all copied straight off the Internet without him citing or mentioning the source which made everyone think it was his report he presented, but it was not.
With no other business, the meeting was adjourned. The December meeting is scheduled for Monday, December 16th at 2 p.m. at City Hall.
