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Revitalization Commission <br />Minutes <br />October 12, 2015 <br />Page 2 of 6 <br />Approval of Agenda <br />Approved <br />Approval of September 15, 2015 Minutes: <br />Chair Becker and Commissioner Fisher's names were misspelled on pages 4 <br />and 5. With those corrections, the minutes were approved. <br />Public Comments on Items Not on the Agenda <br />None <br />Reports of Commission <br />Chair Becker said there is a Board and Commission Open House on October <br />28th 6:30 — 8:00 pm for the public to learn about Boards and Commissions. He <br />will attend. <br />Commissioner Menaker reported October 28th there will be a dedication of the <br />Louisville Officers Memorial at Helburg Park at 3:00 pm. All are welcome to <br />attend. <br />Commissioner Gorsevski said Spruce Street and Main Street may be a good <br />place for a 4 way stop. City Manager Fleming said studies have been done on <br />the intersection — does not warrant a 4 way stop. <br />Business Matters of Commission <br />a. DELO Update <br />Project is moving forward quickly. Subdivision agreement has been <br />approved. No action needed for issuance of 2nd bond; amount left is $3.75 <br />million. Delo is working with Great Western Bank for business banking and <br />lending. They have an interest to become the escrow and paying agent. <br />Currently, the LRC is paying US Bank $6000 per year for escrow <br />management. Great Western would have to be competitive. Rick Brew <br />discussed Great Western and second bond purchase. <br />City Attorney Light reported if the paying agent is changed, the LRC will <br />have to have bond counsel involved. Light will research and advise the <br />LRC if LRC needs to be involved. Special Meeting may have to be called <br />if LRC needs to be involved in change of bond agent and RMCS is looking <br />to make change within two weeks. Commissioner Menaker would like <br />someone from LRC and/or City to take a close look. <br />There was a motion to authorize Economic Development Director Aaron <br />DeJong, City Manager Malcolm Fleming, City Attorney Light, and bond <br />counsel to move forward with change of paying agent. Motion seconded. <br />Light advised to have bond counsel review the request. Perhaps the <br />3 <br />