Rockford Sun

City of Rockford Planning & Development Committee met Oct. 28.

Here are the minutes provided by the committee:

I. CALL TO ORDER 

Attendee Name	Organization	Title	Status	Arrived
Tim Durkee	City of Rockford	Alderman	Present
Karen Hoffman	City of Rockford	Alderman	Present
Bill Rose	City of Rockford	Alderman	Present
Janessa Wilkins	City of Rockford	Alderman	Absent
Gina Meeks	City of Rockford	Alderman	Present

The Vice Chair, Alderman Durkee, called the meeting to order at 6:11 p.m. 

II. COMMITTEE REPORTS 

1. Approval of the proposed Funding Agreement (Long-Term Loan) in the amount of $500,000.00 annually for two years for the continued capitalization and advancement of a Community Development Financial Institution (CDFI) in partnership with Northern Illinois Community Development Corporation (NICDC), Rockford Local Development Corporation (RLDC) and Local Financial Institutions. The funding source is the Casino Tax Revenue Plan. 

Alderwoman Hoffman made a motion to approve. Alderman Rose seconded. After discussion, MOTION PREVAILED 4 TO 0.

RESULT: APPROVED BY COMMITTEE [UNANIMOUS]  AYES: Tim Durkee, Karen Hoffman, Bill Rose, Gina Meeks ABSENT: Janessa Wilkins

2. Approval of the proposed Funding Agreement in the amount of $100,000.00 with Discovery Center Museum Park for HVAC Replacement Project for the multi-tenant building located at 711 North Main Street. The funding source is the Budget Surplus Plan. 

Alderwoman Hoffman made a motion to approve. Alderman Rose seconded. There was no discussion, MOTION PREVAILED 4 TO 0.

RESULT: APPROVED BY COMMITTEE [UNANIMOUS]  AYES: Tim Durkee, Karen Hoffman, Bill Rose, Gina Meeks ABSENT: Janessa Wilkins

III. ADJOURNMENT 

Alderman Rose made a motion to adjourn. Alderwoman Hoffman seconded the motion. MOTION PREVAILED by unanimous voice vote. The meeting adjourned at 6:23 p.m.

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