WYANDOT DEVELOPMENT CORPORATION
(WYANDOTTE COUNTY ECONOMIC DEVELOPMENT COUNCIL)
JANUARY 17, 2001, 11:00 A.M.
EDWARDSVILLE FIRE STATION, 698 S. 4TH

Board Members Present: Mayor Ted Stolfus-Chairperson, Commissioner Tom Cooley, Mayor Luther Pickell, and Mary Ryan

Board Member Absent: Mayor Carol Marinovich

Others Present: Marcia Ashford, Weldon Padgett, George Powell, Doug Spangler, and Jim Thompson

Mayor Stolfus called the meeting to order at 11:07 a.m. Ms. Ryan joined the meeting at approximately 11:20 a.m.

APPROVAL OF MINUTES
The minutes of the November 15, 2000, meeting were unanimously approved by a motion from Commissioner Cooley and second by Mayor Pickell.

ELECTION OF OFFICERS
The bylaws state than an election of officers shall be held annually. The current officers are: Mayor Pickell made a motion to continue with the same officers for 2001. Commissioner Cooley seconded the motion and it was unanimously approved.

AMENDMENT TO BYLAWS REGARDING MEETINGS BY CONFERENCE CALL
The bylaws were provided for the board to review with the proposed amendment under Article II, Section D, Meetings. This amendment was proposed at the November 15, 2000, due to the WCEDC only meeting every other month and that urgent matters may arise in between time. If this should occur, a quorum of the board of directors could confer by conference call so that decisions could be made quickly.

Commissioner Cooley made a motion to approve the proposed amendment to the bylaws. Mayor Pickell seconded the motion and it was unanimously approved.

TREASURER'S REPORT
Commissioner Cooley provided a treasurer's report for the Wyandot Development Corporation. A cash report for the corporation, check register, a breakdown of the three funds that are included in the corporation account and the New Century Partnership account were provided for the board's review and consideration for approval. The account balance as of December 31, 2000 was $59,989.09. Commissioner Cooley reported on the deposits, interest, payments and three cash accounts for the corporation.

Ms. Ryan inquired about the interest rate for the money market account. Commissioner Cooley stated that he thought it was currently 5.8%. He also stated that there are two interest bearing accounts - New Century Partnership and the money market.

Ms. Ryan inquired as to how the money was being spent for the New Century Partnership.

Mr. Thompson stated that there are four major areas on how the money is expended:

  1. Business Education Task Force - This program was started five years ago where the schools and businesses work in cooperation enforcing what jobs are available in Wyandotte County and what skills and education are needed. The first class this was started with will be graduating this year. The task force works with the Kaufman Foundation, which gave $175,000 for this program. The federal government awarded a grant for over $400,000.
  2. Business Retention and Attraction - Industrial retention calls are made in Wyandotte County. The staff attends four trade shows per year and promotional materials are developed to attract businesses to Wyandotte County
  3. Study on Residential Housing - This is a county-wide study. They will be seeking input from bankers, builders, realtors and homeowners. The study will help determine how to market and attract builders and developers to Wyandotte County. A retail study was also conducted.
  4. General Marketing - Have worked with Bonner Springs and Edwardsville to place ads in 6 issues of an area development magazine.

Mayor Pickell made a motion to approve the treasurer's report as submitted. Commissioner Cooley seconded the motion, and it was unanimously approved.

A. Director and Officer Liability Insurance - Commissioner Cooley reported that he talked with Bob Charlesworth, the insurance consultant for the City of Bonner Springs. Mr. Charlesworth said that this type of insurance would cost between $1,800 to $2,500 for $1,000,000 worth of coverage and a $5,000 deductible. He said that it has four elements to it: (1) director and officer liability insurance, (2) errors and omissions, (3) crime and (4) fiduciary. Ms. Ryan suggested that three quotes be obtained from the insurance agents for Bonner Springs, Edwardsville and BPU. Mr. Cooley said he will follow through with this and get quotes.

B. Corporate Legal Attorney - Commissioner Cooley stated that he had not yet contacted Mark Conklin, a Unified Government attorney assigned to BPU, to see if he would be interested in serving as the corporate legal attorney for the Wyandot Development Corporation. If Mr. Conklin agrees, Mr. Cooley stated that he would serve only on an as-needed basis. Ms. Ryan stated that she would not be in favor of him serving in this capacity.

OTHER BUSINESS
A. Future Agenda Items - None were mentioned.

B. Resolution Allowing Donation of Stock to New Century Partnership - Mr. Cooley reported that a separate resolution was not needed for the donation of stock to the New Century Partnership. United Missouri Bank accepted Resolution 2000-2 to allow a brokerage account to be opened for this purpose.

C. Next Meeting Date - The Unified Government will host the March 21, 2001 meeting.

Ms. Ryan made a motion to adjourn the meeting at 11:42 a.m. Mr. Cooley seconded the motion and it was unanimously approved.

Respectfully submitted,

Marcia Ashford
Asst. to the City Manager/Deputy City Clerk City of Bonner Springs

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