October 28, 2024 DRAFT Minutes
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D R A F T
MINUTES
INDUSTRIAL DEVELOPMENT AUTHORITY
OF THE CITY OF GLENDALE, ARIZONA
GLENDALE CIVIC CENTER ANNEX - VAULT BOARDROOM
5752 W GLENN DRIVE
GLENDALE, ARIZONA 85301
OCTOBER 28, 2024
4:00 P.M.
Present:
Robert Holmes, President
John Catledge, Vice President
Miles Charles, Secretary/Treasurer
Darryl Jaquess, Member
Howard McKenna, Member
Absent:
Lisa Maestas, Member
Also Present: Jessi Pederson, City of Glendale Economic Development
Attendees:
Brigitte Finley Green, Legal Counsel to the Authority
Chris Coffman, Executive Director of Helping Hands for Single Moms
Notice is hereby given that a Special Meeting of the Board of Directors of the Industrial
Development Authority of the City of Glendale, Arizona (the “Authority”) will be held at 4:00 p.m. on
October 28, 2024, in Conference Room 2A (or such other room as may be assigned by the City of
Glendale), Glendale City Hall, 5850 West Glendale Avenue, 5752 W. Glenn Dr., Vault
Room, Glendale, Arizona, to consider and take action as appropriate with regard to the following
matters:
1.
CALL TO ORDER AND ROLL CALL
2.
APPROVAL OF THE MINUTES
The minutes of the Special Meeting of the Board of Directors of the Authority held on
April 10, 2024, were presented to the meeting and reviewed and discussed. Mr. Catlege
recused himself from consideration of the matter because he did not attend the April 10,
2024 meeting. Upon a motion made by Mr. McKenna and seconded by Mr. Charles, the
minutes were approved and adopted by unanimous vote (excluding Mr. Catlege).
AYE: President Robert Holmes
Vice President John Catledge
Secretary/Treasurer Miles Charles
Member Darryl Jaquess
Member Howard McKenna
Passed
a.
Industrial Development Authority Minutes of April 10, 2024.
3.
PRESENTATION BY HELPING HANDS FOR SINGLE MOMS
Mr. Holmes advised that the next item on the Agenda was a presentation by Helping
Hands for Single Moms. Mr. Holmes called upon Mr. Coffman to review for the Board
the scholarship program and the way the past year’s funding had been applied and
expended. Mr. Coffman discussed the Helping Hands program and distributed to the
Board information regarding the recipients of the Glendale IDA scholarships and general
information regarding the Helping Hands program (copies of these materials to be
included in the permanent records of the Authority).
4.
FINANCIAL REPORT
Next, Mr. Charles, as Treasurer of the Authority, gave a financial report as of October
28, 2024, which noted that the Authority had aggregate funds of $219,170.68. A copy of
the financial report is included in the records of the Authority. Mr. Catledge requested a
list of outstanding bond deals, including annual administration fees and maturity dates,
to better understand the amount and timing of future revenues of the Authority. Ms.
Finley Green agreed to provide the list at the next Authority meeting.
5.
CONSIDERATION OF GRANTS AND DONATIONS
a.
Scholarship Grant to Helping Hands for Single Moms
After further discussion regarding the Helping Hands program and the financial condition
of the Authority, Mr. Holmes suggested that the annual scholarship grant to Helping
Hands be increased from $20,000 to $25,000. Because the Authority sponsors six
Helping Hands scholarships a year, Mr. Catledge suggested the grant amount be
increased to $24,000 ($4,000 for each of the six recipients). Upon a motion made by
Mr. Charles and seconded by Mr. Catledge, the Board unanimously voted to award a
$24,000 grant to Helping Hands for Single Moms to fund scholarships to single moms
either residing in or attending school in Glendale.
AYE: President Robert Holmes
Vice President John Catledge
Secretary/Treasurer Miles Charles
Member Darryl Jaquess
Member Howard McKenna
Passed
b.
Donation to Arizona Human Society
After discussion regarding the Arizona Humane Society and the financial condition of the
Authority, and upon a motion made by Mr. Charles and seconded by Mr. Catlege, the
Board unanimously voted to award a grant to the Arizona Humane Society in the
amount of $5,000.
AYE: President Robert Holmes
Vice President John Catledge
Secretary/Treasurer Miles Charles
Member Darryl Jaquess
Member Howard McKenna
Passed
6.
PAYMENT OF INVOICES, AND ACTIONS AS DETERMINED
Mr. Holmes noted there was an invoice from Squire Patton Boggs in the amount of
$1,441.64. Upon a motion made by Mr. McKenna and seconded by Mr. Charles, the
Board unanimously approved payment of this invoice.
AYE: President Robert Holmes
Vice President John Catledge
Secretary/Treasurer Miles Charles
Member Darryl Jaquess
Member Howard McKenna
Passed
7.
ELECTION OF OFFICERS
Charles Mr. Holmes advised that the next item on the Agenda was election of officers of
the Authority and requested Ms. Finley Green lead the discussion. Ms. Finley Green
reported that the last officer election had occurred on August 28, 2019, and that the
bylaws provide that officers should be chosen annually. Mr. McKenna suggested the
existing officers be reelected to the offices they are currently serving. Following
discussion and a motion made by Mr. McKenna and seconded by Mr. Charles, the
Board unanimously approved the following slate of officers: President – Robert Holmes;
Vice President – John Catledge; Secretary – Miles Charles; Treasurer – Miles Charles.
AYE: President Robert Holmes
Vice President John Catledge
Secretary/Treasurer Miles Charles
Member Darryl Jaquess
Member Howard McKenna
Passed
8.
LEGAL COUNSEL REPORT
Next, Mr. Holmes requested that Ms. Finley Green give the legal counsel report. Ms.
Finley Green stated that the Authority’s annual report was due to be filed with the
Arizona Corporation Commission on October 17, 2024, but that she did not want to file it
until after the officer election at this meeting. She will file it now that the slate has been
approved. Ms. Finley Green also advised that Lesa Maestas had moved out of the City
of Glendale and, therefore, was no longer qualified to be a member of the Authority
board. Ms. Pederson has advised the City of the vacancy.
9.
FUTURE AGENDA ITEMS
Next there was a discussion about future agenda items. Ms. Finley Green advised that
Midwestern University was expecting to request an allocation of the State of Arizona’s
private activity volume cap on January 2, 2025, for its student loan transaction, and she
expects the matter to come to the Authority for final approval during the first quarter of
2025. Additional discussion was had regarding reaching out to investment bankers who
have previously worked with the Authority to determine possible future deal flow.
10.
CALL TO THE PUBLIC
A call to the public was made. No members of the public were present.
11.
ADJOURNMENT
There being no further business, the meeting was adjourned at 4:45 p.m.
The Industrial Development Authority meeting minutes of _______, 2024 were submitted and approved
this ___ day of ________, 2025.
____________________________________
Recording Secretary