TOWN OF ENFIELD

LOAN REVIEW COMMITTEE

MINUTES OF DECEMBER 16, 2008

VILLAGE CENTER / CONFERENCE ROOM

APPROVED / 03-03-2009

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ADMINISTRATIVE ITEMS 

Members Present:

Charles Duren, Chairman

Paul Coffee

Mary Lavorgna

Red Edgar, Council Liaison

Jason Jones, Council Liaision

Jennifer Casalone

Staff Members:

Peter Bryanton, CD Director

Richard Metcalf, Housing Code Inspector

Call to Order:

Chairman Duren opened the meeting at 5:30 p.m.

Enter Executive Session:

A motion to enter into executive session to discuss the financial and personal issues of the applicant was made by Mr. Jones and seconded by Mr. Coffee. Motion passed unanimously. There were no decisions made and no votes taken during the session.

Exit Executive Session:

A motion to exit executive session was made by Mr. Coffee and seconded by Mr. Jones. Motion passed unanimously.

OLD BUSINESS:

Review of Small Business Development Fund Application:

27 North Main Street / Textures Barbershop & Salon

The applicant, Mr. Wilson was not present for the meeting. Mr. Bryanton did indicate that he told Mr. Wilson to come to the meeting at 6:00 p.m. Chairman Duren asked if there was a motion to approve the loan application. Mr. Coffee made a motion to approve the loan in the amount of $5,000 at a 10 year term, with 40% eligible for forgiveness after 5 years. He also added that Mr. Wilson would be eligible to reapply for more loan funding after the one year trial period. Mr. Jones seconded the motion with the stipulation that 1. an insurance policy be maintained for the business throughout the life of the loan, 2. copies of all the current “Contractor Agreements” be forwarded to the Committee for the loan file, and 3. any proposed expansion of the business must get Planning and Zoning approval, and those approved plans be provide to the Committee. Mr. Duren asked if there was any further discussion. Mr. Edgar stated that he is not comfortable with the application as submitted. Mr. Duren proceeded with the vote. The motion passed with 4 for approval, and 1 for denial.

Approval of Minutes:

Chairman Duren asked for a motion to approve the minutes of October 14, 2008. A motion was made by Mr. Coffee, seconded by Mr. Edgar and passes unanimously.

Chairman Duren asked for a motion to approve the minutes of December 2, 2008. A motion was made by Mr. Jones, seconded by Ms Lavorgna and passes unanimously.

Adjournment:

A motion to adjourn the meeting was made by Mr. Jones and seconded by Mr. Edgar. Motion passed unanimously. Meeting adjourned at 5:55 p.m.

Submitted by:

Peter Bryanton, Director of Community Development

Approved By:

Charles Duren, LRC Chairman

Signature: _______________________________________ Date: __________________