Minutes of the Board of Directors Meeting

Quad Cities Regional Economic Development
Authority Wednesday, August 11, 2021

Moline, Illinois

Members Present
Kurt Brunner, Carroll County
Appointment Salvador Garza, DCEO Designee
J. P. Jacobs, Governor Appointment
Emily Legel, JoDaviess County
Christopher Lemon, Rock Island
County Kevin Marx, Lee County
Appointment Ken Springer, Knox County
Betty Steinert, Whiteside County
Appointment Scott Verschoore, Governor Appointment
Jan Weber, Henry County
Mark Williams, Stephenson County
Members Absent
Robert Anderson, Governor Appointmen
Steve Moreland, Mercer County Appointment

Others Present:
Warren Ribley, Executive Director
Andrew Hamilton, Assistant Executive
Director Ronni Norton, Strategic Alliance
George Jennings, Intern
Kippy Breeden, Henry County Board Chair

The meeting was called to order at 10:43 a. m. by Chairman Scott Verschoore.

The agenda was presented for approval. It was moved by Member Springer and seconded by Member Steinert to approve the agenda. Following discussion, the motion carried. It was moved by Member Springer and seconded by Member Marx to approve the January 13, 2021 meeting minutes and the minutes of all previous meetings. Following discussion, the motion carried. The Treasurer’s Report was presented for approval. It was moved by Member Springer and seconded by Member Steinert to approve the Treasurer’s Report. Following discussion, the motion carried. New Board members were introduced and welcomed to the Board.

Resolution 21-002- A Final Bond Resolution in an amount up to $16,000,000 on behalf of Galesburg Towers Associates 4 LLC – Staff presented the Resolution.
Following discussion, it was moved by Member Springer and seconded by Member Legel to approve the Resolution. After discussion thereof, Chairman Verschoore directed that the roll be called for a vote upon the motion to adopt the Resolution. Upon the roll being called, the following members voted AYE: Kurt Brunner, Salvador Garza, J. P. Jacobs, Emily Legel, Christopher Lemon, Kevin Marx, Ken Springer, Betty Steinert, Scott Verschoore, Jan Weber and Mark Williams. The following members voted NAY: none. The following members abstained: none. The following members were absent: Robert Anderson and Steve Moreland. The motion carried.

The FY 2021 budget was presented for approval. Three options were presented for consideration. Following discussion, a motion was made by Member Springer and seconded by Member Jacobs to approve Option B for FY 2021 and until a successive budget is approved. Option B provides for expenditures in the following categories and amounts:

Accounting Services-$5,000, Executive Director-$24,000, Insurance- $1,450, Marketing- $7,000, Meeting Expense- $1,500, Support Services- $15,000, Travel and Lodging- $3,500, and Other- $1000. Revenues are budgeted at 120,000. Upon the roll being called, the following members voted AYE: Kurt Brunner, Salvador Garza, J. P. Jacobs, Emily Legel, Christopher Lemon, Kevin Marx, Ken Springer, Betty Steinert, Scott Verschoore, Jan Weber and Mark Williams. The following members voted NAY: none. The following members abstained: none. The following members were absent: Robert Anderson and Steve Moreland. The motion carried.

With no further business, a motion was made by Member Williams and seconded by Member Bruner to adjourn the meeting. The motion carried.

The meeting was adjourned at 11:50 a.m.

Respectfully submitted by
Betty Steinert,
Secretary