HomeMy WebLinkAboutCity Council Committees - Economic Development Corporation - 09/27/1993 City of Kent ,
AS, Economic Development Corporation
September 27 , 1993
The annual meeting of the Kent Economic Development Corporation was called
to order at 6: 00 p.m. by Chairman White. Present: Boardmembers Johnson,
Banister and Llewellyn, General Counsel Lubovich, May Miller and A1ana
McIalwain.
Approval of Minutes. Llewellyn moved to approve the minutes of November
16, 1992 and December 21, 1992 . Johnson seconded and the motion carried.
Election of Officers . Johnson moved that the current officers serve until
the end of the year and that new officers be elected at the beginning of
1994. Lubovich pointed out that the bylaws state that officers are to be
elected at the annual meeting in September of each year, but that the by-
laws could be changed. White noted that the officers could be appointed
to serve for another year and any vacancies could be filled later. John-
son withdrew his motion. Llewellyn then moved to appoint the same officers
as last year and to make adjustments later if necessary. Banister seconded
and the motion carried.
1994 Financial Report. May Miller distributed updated copies of the
financial report and explained the revenues and expenditures involved.
She noted that $50,000 was budgeted for the Kent Chamber International
Trade Program in 1993. She stated that the budget for 1994 is the same,
but that the Chamber has asked for permanent funding in the amount of
$25, 000 a year for the trade fair. White stated that there is no reason
not to use that $25, 000 a year and Miller agreed that the trade fair is
a good use of funds . Lubovich noted that funds should be transferred to
the city as surplus retained earnings . Miller clarified that $44, 489
would remain after $25,000 is allocated for the trade fair. Johnson then
moved to adopt the budget forecast, including $25,000 for the International
Trade Program in 1994. Banister seconded and the motion carried.
It was noted that the trade fair was successful, that vendors were enthusi-
astic, and that a large contract resulted. After discussion, it was sug-
gested that the Chamber be approached to solicit some form of _ repayment
to EDC from companies who benefit from the trade fair. White stated that
he will suggest to the promoters that EDC receive a copy of their reports.
Mclalwain noted that the delegation from Yangzhou was unable to attend the
trade fair and will be in Kent on September 28.
Adi,ournment. The meeting adjourned at 6: 20 p.m.
Gai ce�e�.�ne�
Brenda J o er
Secretar