City of Silvis Economic Development Group and Finance Committee met June 19.
Here is the minutes as provided by the committee:
Chairwoman Hall called the meeting to order at 5:01pm and it was noted a quorum for the finance and Economic Development Committee were present.
The first topic of discussion was the development agreement with Emilee Swanson. Alderwoman Hall explained that the developer Emilee Swanson has made a contingent purchase of the former Diane's Beauty Salon at 1009 First Avenue. She intends to relocate her hair salon to this location and to bring along to additional businesses as well. The total employment would be 15-17 employees. This would bring about 150 customers per week to the downtown. The terms of the development agreement would be a $25k forgivable loan over a five year period. This type of agreement has been used with other projects and has proven to be successful. It was noted that the new business would also apply for the commercial façade program to help promote and advertise the other businesses. There will be a small patio and a separate entrance for the other business. Emilee hopes to have the building renovated and open for business by the fall of 2017. Committee was in agreement with the proposed development agreement and the item would be placed on the June 20" 2017 COW agenda.
Next item for committee consideration was the request from Bron Holdings for a change in ownership. This is the business known as Pillar in the former Blockbuster building west of HyVee. The original agreement was approved October 2014 and was for a term of 10 years. Bron would receive% of one percent of the sales tax collected for a maximum of $15k per year or $150k for the term of the agreement. Committee was in agreement with the ownership change request and to Continue the original terms as spelled out in the original agreement. The item would be placed on the June 20 COW agenda.
The finance committee has two items for consideration. The first item was for the 2017 Moonlight Parade donation request in the amount of $4,000. This is a budgeted item and would be paid from the Tourism Fund. Clerk Nelson noted that last year the donation was not followed through on so this year the parade will actually receive two years' worth of donation. Committee was in agreement and the item would be placed on the June 20" 2017 COW agenda.
The last item for consideration was a request from Main Street for the annual support. The requested amount is in amount of $14,000. Clerk Nelson explained that one third of Main Street budget typically comes from the city, one third fundraising and the remaining third would come from membership. Alderwoman Hall explained that the budget this year is slightly higher ($58,000) due to a new fundraiser. An increase in funding would be considered next year. The funds would come from Economic Development fund. Committee was in agreement and the item would be placed on the June 20" 2017 COW agenda.
There were no other agenda items and the meeting was adjourned at 5:19pm.
http://www.silvisil.org/committee-meeting-minutes.html?fd=%25E2F%2515%2505R%258B%25A3%257C%2502%2505%25EC%2505wUR%259F%259CD-L%2504%25D2%25B4J%257D%25A3%25D9%2508%2595%2501%25DC%25C2%25C7%25F7q%25F1%2506%2581.%2593%25F2%25837x%2513Q%25E6%257FD5%2588%25A4%25A9%25E2%2514%255B%259A%25C2%25DA%259D
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