The Economic Development Corporation of San Saba, Texas convened into an open meeting on Thursday, October 18th, 2007 at 1:30 p.m., in the City Hall Council Chambers located at 303 S. Clear Street.
Members in attendance were:
Owen Parks - President
Dora Miller – Vice President
Cindy Stafford – Sec/Treasurer
Mike Thomas – Director
Otis Judkins – Director
Leigh Ann Glaze – Director
David Parker – Director
Owen Parks called the meeting to order and offered the invocation.
On a motion by Otis Judkins, seconded by David Parker, the Board unanimously approved the minutes for the September 27th, 2007 board meeting.
On a motion by David Parker, seconded by Otis Judkins, the Board unanimously approved the submitted financial information.
J.T. Grumbles and Rusty Glover presented their project with their new business venture San Saba Ag Supply. They explained to the board it would mainly be a wholesale business and they plan to go nationwide with their products. Their plan is to provide an additional 10-12 jobs when they open their new facility.
They will be producing quality leather goods, among other animal care products. They answered several other questions from the board about their business plan. San Saba Ag Supply is requesting a low interest loan from the EDC.
On a motion by David Parker, seconded by Dora Miller, the board unanimously approved the Small Business Loan Program that carries a maximum loan amount of $50,000.
On a motion by Cindy Stafford, seconded by David Parker, the board unanimously approved the Small Business Loan to San Saba Ag Supply in the amount of $50,000. Cindy Stafford told Mr. Grumbles and Mr. Glover that it would be 60 days before the loan could be dispersed due to EDC guidelines. The loan documents will be signed at the same time their other loan for the balance of the project will be closed.
The board then listened to the business owners and their requests for grants. On a motion by David Parker, seconded by Dora Miller the board unanimously approved the following grants. They were awarded as presented with the exception of Hamrick’s Automotive. The applicants are eligible for one business per fiscal year. Hamrick’s application included Hamrick’s Automotive and Car Quest. All improvements were approved on Hamrick’s Automotive.
1. Beckwith Properties – Building Construction - $3,000
2. Boney & Clauds – Roof Repair - $2,058.75
3. San Saba Printing – Building Addition - $3,000
4. Six Pak – Building/Window Repairs - $3,000
5. San Saba Garden Club – Building Repairs - $3,037.50
6. Commie’s Tacos – Roof Replacement - $3,000
7. San Saba Golf Course – Painting/Rock Work - $3,000
8. North Side Tire – Paint Building/Signage - $3,000
9. Hamrick’s Automotive – Rock Work - $3,000
10. Del A. Sears – Roof Replacement - $3,000
Cindy Stafford told the board that depending on the actual bills turned in, this would deplete the grant program for this fiscal year. A total will be turned in after everything is received and paid and Cindy will inform them if there will be any funds remaining.
Being no further business, the meeting was adjourned.