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BEAR POINT MITIGATION BANK MANAGEMENT COMMITTEE
MINUTES
DECEMBER 7, 2016 MEETING
Members Present: Glenn Henderson, Leslie Olson, Mark Satterlee, and Heather Young.
Others Present: Freda Posin appeared by telephone.
The meeting was called to order at 4:33 p.m. by Mr. Henderson in the County Attorney’s Small
Conference Room, St. Lucie County Administration Annex Building, 2300 Virginia Avenue, Fort Pierce,
Florida. Following roll call, it was determined a quorum was present.
Mr. Henderson called for nomination for Chair for 2017. Mr. Satterlee nominated Mr.
Henderson. Mr. Henderson was re-elected as Chairman by a vote of 4-0. Mr. Henderson called for
nomination for Vice Chair. Ms. Olson nominated Mr. Satterlee. Mr. Satterlee was elected Vice Chair by a
vote of 4-0.
Mr. Henderson asked for a motion regarding the minutes of the August 31, 2016 meeting. Ms.
Olson made a motion to approve the minutes as presented. Mr. Satterlee seconded the motion. The
motion was approved by a vote of 4-0.
Mr. Henderson gave the following reports:
1. Annual Appraisal – Following the request of quotes to perform the Annual Appraisal, the
contract was awarded to Fuller-Armfield-Wagner Appraisal & Research, Inc. on November 16, 2016. The
Work Authorization for the project is being routed and the Notice to Proceed has been issued. The total
cost of the appraisal will be $2,300.00.
2. Credit Sales, Reservations and Ledger Debits
A. Gus Wong purchased .20 Dual Credits
B. All Aboard Florida - .12 State Credits have been debited from the State Ledger
C. Moorings Yacht Club - .20 State Credits have been debited from the State
Ledger
3. Available Credits
A. Federal Credits – 7.20
B. State Credits – 8.30
4. Bear Point Budget
A. Pooled Cash - $637,487.19
B. Reallocation to FY 17 Budget - $31,964.00
C. September 2016 Interest Allocation - $2,648.33
There being no further business, the meeting was adjourned at 4:38 p.m.