HomeMy WebLinkAboutLaurel Development Corporation Minutes 11.04.2004LAUREL DEVELOPMENT CORPORATION
MEETING MINUTES OF NOVEMBER 4, 2004
Board members present: Kate Stevenson, Ken Olson, Gay Easton, Larry McCann, Cal Cumin,
Linda Beck, and Bud Johnson. Also present: Rocky Smith and Christa McClure.
Meeting called to order by Kate. Cal moved to approve the minutes as presented with second by
Linda; motion carried.
Rocky presented financial status of RSHH funds.
Rocky updated the Board on the Solid Foundations Project. A construction trailer, loaned at half
price by Pierce Homes of Billings, will be moved to the north part of the site next Thursday as
will a large conex eventually. Bill Wallace will also be moving his fifth wheel to the same area.
The construction trailer is being moved to the site and set up by Pierce at no cost. It contains
three offices, a common area, as well as lavatory provisions and full electrical--including
Internet hookup. We will have to get electricity from the north side of 4`" Street.
We are putting all the development costs, including miscellaneous fees, into one major loan, and
RCAC has promised to close this loan on or before December l01h, which is also the last day the
sellers are going to wait for us to buy the land.
Two partially filled barrels contain a toxic substance are being removed by an environmental
company.
Our offer to sell the south portion of the property to John Becker for $60,000 was counter offered
by Becker by $20,000, so our offer is dead.
Tammi Hoines has moved to Red Lodge, and we will be receiving a letter of resignation from
her. Board members will consider other knowledgeable, supporting, and cooperative local
bankers for possible membership on our Board. If none are found, there are a couple of
aggressive bankers in Billings that would be ideal-including one private banker and former
corporate leader who sounds very promising. We also may try and appoint more than one
banker.
Rocky presented and explained the Mutual Self-Help Housing Membership and Labor
Agreement which had been emailed to all Board members for prior consideration. After
discussion, Linda moved and Bud seconded to approve; motion carried.
Meeting adjourned.