TEDC Board Meeting Minutes

The Meeting was called to order by President Mark Herbison at the conference room at the Tennessee Chamber of Commerce & Industry offices in Nashville.  Members participating included Mark Herbison, Kyle Spurgeon, Doug Lawyer, Walt Wood, Daryl Brady, Marco Oliveri, Paul LaGrange, David Hamilton, and Lizabeth Theiss.  Suzie Lusk and Kayla Taylor also participated.  Director Holly Holt was absent.

Business Items included the following:

Minutes

The Minutes of the July 21, 2006 Meeting were distributed and reviewed.  A Motion was made by Daryl Brady to approve the Minuets.  The Motion was seconded by Doug Lawyer.  The Motion passed unanimously.

Financials

The Financial Statements were distributed and reviewed by Suzie Lusk.  It was noted that the Spring Conference showed excess revenue of $700 over expenses and the total revenue/expenditures were normal for conference activities.  A Motion to approve the Financial Report was made by Daryl Brady.  The Motion was seconded by Kyle Spurgeon.  The Motion passed unanimously.

There was other discussion of financial matters including the costs allocated to Younger Associates for their contract with TEDC.  Their costs are apportioned among several categories of expenses based on the services provided.  Also, the current bank account fees and CD yields should be reviewed for the best advantage for our funds.  With the approval of the Board, President Herbison will contact AmSouth about checking account costs and CD rates.

Sponsorship Committee.

President Herbison reported progress on the Sponsorship Committee to be chaired by a Past President with each regional director appointing one member each.  Levels of sponsorship will include Red, White, and Blue.

Awards Committee

President Herbison reported that by the end of the year a revised awards process will be in place.  Board members were requested to suggest ideas as soon as possible.  Plans are underway for the TEDC Award Nominees to recommended by an independent group and presented for approval to the Board of Directors.  This new process should be in place for the Fall 2007 Conference.  TEDC Awards presented annually include the Volunteer of the Year and Economic Development Professional of the Year.  Other Awards named after Fred Harris and Jim Spradley are presented when special recognition opportunity occurs.  It was recommended that additional information about the Harris and Spradley Awards be provided so members may make nominations accordingly.

Past President’s Dinner.

The date for the Past President’s Dinner will be December 7, 2006 in Nashville either Valentinos or Maggianos.  Suzie Lusk will take care of the arrangements.

Fall 2006 Conference.

Doug Lawyer gave an update on the Fall Conference which will be held in Knoxville on October 18-19-20, 2006 at the Hilton Downtown.  The Program is set and golf arrangements are underway.  The Conference Banquet will be at Calhouns.  The mini commercials for sponsors will continue.

New Business.

Under New Business a scholarship application was received from Jana Hellums to attend EDI.  David Hamilton made a Motion to approve the Application.  Paul LaGrange seconded the Motion which passed unanimously.

There being no further Business to come before the Board, the Meeting was adjoined.

Respectfully Submitted,

Walt Wood, CEcD
Secretary/Treasurer
September 22, 2006