10-10-23 EDA CC Special Mtg Agenda Packet
ECONOMIC DEVELOPMENT AUTHORITY MEETING 5755 COUNTRY CLUB ROAD
CITY COUNCIL SPECIAL MEETING COUNCIL CHAMBERS
TUESDAY OCTOBER 10, 2023 6:00 P.M.
AGENDA
1. CONVENE ECONOMIC DEVELOPMENT AUTHORITY MEETING
A. Roll Call
President Labadie _____
Callies _____
Maddy _____
Sanschagrin _____
Zerby _____
B. Review and Approval of the Agenda
2. APPROVAL OF MINUTES
A. EDA minutes of October 24, 2022 meeting Minutes
3. NEW BUSINESS
A. Appoint 2023 Officers Executive Director Memo
4. ADJOURN
2A
CITY OF SHOREWOOD 5755 COUNTRY CLUB ROAD
ECONOMIC DEVELOPMENT AUTHORITY COUNCIL CHAMBERS
MONDAY, OCTOBER 24, 2022 6:15 P.M.
MINUTES
1. CONVENE ECONOMIC DEVELOPMENT AUTHORITY MEETING
President Labadie called the meeting to order at 6:35 P.M.
A. Roll Call
Present. President Labadie; Commissioners Gorham, and Callies; City Attorney Shepherd;
Interim City Administrator Shukle; City Clerk/HR Director Thone; Assistant
Treasure/Finance Director Rigdon; Planning Director Darling; Director of Public
Works Brown; and, City Engineer Budde
Absent: Commissioners Johnson and Siakel
B. Agenda
Callies moved, Gorham seconded, to Approve the Agenda, as presented. All in favor,
motion passed.
2. APPROVAL OF MINUTES
A. EDA Minutes of June 13, 2022
Gorham moved, Callies seconded, to Approve the EDA Minutes from June 13, 2022, as
presented. All in favor, motion passed.
3. NEW BUSINESS
A. Resolution Authorizing the EDA to Exercise the Full Call Option on the 2017A
Lease Revenue Refunding Bonds
Assistant Treasurer/Finance Director Rigdon stated that opportunities to reduce the tax levy have
been discussed previously and explained that this particular idea would pay off the 2017 building
bonds, that were originally issued by the EDA in 2008. He explained that the proposal is to pay
off the bonds by using General Fund Reserves. He stated that if the City takes this action, they
will be able to reduce the annual levy.
Councilmember Gorham asked what this would amount to for levy percentages.
Assistant Treasurer/Finance Director Rigdon stated that it should get the levy down to 5.5% which
began at 8.9%.
Councilmember Gorham explained that his goal was to get the levy as low as possible, so he
feels this is the right thing to do. He stated that he also thinks this is a good idea because he
expects the City will begin seeing material costs increases.
CITY OF SHOREWOOD ECONOMIC DEVELOPMENT MEETING MINUTES
OCTOBER 24, 2022
Page 2 of 2
Callies moved, Labadie seconded, Adopting RESOLUTION NO. 22-2, “A Resolution
Providing for the Redemption and Prepayment of the Shorewood Economic Development
Authority Public Project Lease Revenue Refunding Bonds, Series 2017A.” All in favor,
motion passed.
4. ADJOURN
Gorham moved, Callies seconded, Adjourning the Economic Development Authority
Meeting of October 24, 2022, at 6:42 P.M. Motion passed 3/0.
ATTEST:
Jennifer Labadie, President
Sandie Thone, City Clerk
Item
3A
Economic Development Authority Meeting Item
Title/Subject: Election of Officers – 2023
Meeting Date: October 10, 2024
Prepared by: Marc Nevinski, Executive Director
Attachments: Bylaws of the Shorewood Economic Development Authority
Background
The Economic Development Authority is required to meet annually, if for no other reason, to
appoint officers for the year. The bylaws identify certain positions from Council and staff to
serve as EDA officers. Other officers are elected from among the board.
The current slate of officers is proposed:
President Mayor
Vice President ______________________
President Pro-Tem _____________
Treasurer ____________________
Executive Director/Secretary City Administrator
Assistant Treasurer Finance Director
Assistant Executive Director Planning Director
The EDA should elect from among the board the positions of Vice President, President Pro-tem
(optional), and Treasurer. The officers will serve until the fourth Monday of July 2024 when the
EDA will elect the next slate of officers.
Financial Considerations
None
Action Requested
Motion to approve the slate of officers for 2023 as elected by the board.
A majority vote by the Board is required.
Mission Statement: The City of Shorewood is committed to providing residents quality public
services, a healthy environment, a variety of attractive amenities, a sustainable tax base, and
sound financial management through effective, efficient, and visionary leadership. Page 1