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Home My WebLink AboutMN-IURAED-2010-02-24Ithaca Urban Renewal Agency 108 East Green Street Ithaca, New York 14850 (607) 274-6559 (607) 274-6558 (fax) NOTES Economic Development Committee Ithaca Urban Renewal Agency Wednesday, February 24, 2010 3:30 PM Present: Doug Dylla, Martha Armstrong Staff: Nels Bohn, Alice Vargo Guest: Suzanne Lonergan from the Finger Lakes Wine Center I. Call to order The meeting was called to order by Chair Dylla at 3:39 P.M. II. Additions to or deletions from the agenda - None III. Public comment (3 minute maximum per person) IV. Review of meeting notes of January 12, 2009 meeting V. Finger Lakes Wine Center, Inc., review of project progress to satisfy loan conditions - resolution. Lonergan went over their financials in great detail. Their capital campaign is well under way, they have an aggressive plan to get the $75,000 needed to meet the contract agreement to the IURA. Their plan is to have the money by mid-march, and anticipate opening by the end of May 2010. They have been asked for updated information for the liquor license. Bohn will report to the IURA on their progress. The business focus is on wine, but night events could include tasting of malts, etc., the liquor license will cover this. The idea is to taste not to sell. VI. Strategic Planning/Goal Setting Session A. Discussion of ED strategy questions  Lending products to leverage investment – trend of financing restaurants  Geographic targeting  Business type targeting  Non-lending business support services B. Performance measures in 2010 and beyond VII. Staff Report A. Loan Repayment & Lease Receivable report Bohn stated the Bookery has had growing success, they have made more money than last year. Bohn met with e2e, they may need more space in Cherry Street. B. Committee membership - possible executive session to discuss matters involving the medical, financial, credit, or employment history of a particular person C. Recent funding submissions, NYSERDA, etc. Bohn explained the summary handed out for NYSERDA D. Other VIII. Old and Other Business IX. Next meeting date: There will not be a meeting in March, next meeting date is April 13, 2010. X. Adjournment If you have a disability and require accommodations in order to fully participate please contact the Ithaca Urban Renewal Agency at 274-6559, at least 48 hours prior to the meeting.