HomeMy WebLinkAboutBPM 052017 Minutes
BEAR POINT MITIGATION BANK MANAGEMENT COMMITTEE
MINUTES
MAY 15, 2017 MEETING
Members Present: Glenn Henderson, Leslie Olson, and Heather Young
Others Present: Freda Posin appeared by telephone
The meeting was called to order at 4:35 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 asked for a motion regarding the minutes of the February 15. 2017 meeting. Ms. Olson
made a motion to approve the minutes as presented. Ms. Young seconded the motion. The motion was
approved by a vote of 3-0.
Mr. Henderson presented an estimate from Sign Edge Graphics to replace the Bear Point Mitigation
Bank sign in the amount of $672.63. Ms. Young made a motion to accept the estimate and approve a contract
with Sign Edge Graphics for the new sign. Ms. Olson seconded the motion. The motion was approved by a vote
of 3-0.
A discussion of the Bi-Annual Status Report was postponed to the next meeting.
Mr. Henderson reported that the semi-annual exotic removal/maintenance work had been completed in
April 2017.
Mr. Henderson reported that KT 5000 LLC had purchased .10 Dual Credits for Harbor Point
Condominiums. Those credits have been debited from the State Ledger.
Mr. Henderson reported that the Bank currently has the following credits available:
1. Federal Credits – 7.10
2. State Credits – 8.20
Mr. Henderson informed the Committee that the Bear Point budget currently has $639,888.77 in pooled
cash which includes the following interest allocations:
1. January 2017 - $1,010.63.
2. February 2017 - $387.86
3. March 2017 - $220.67
There being no further business, the meeting was adjourned at 5:00 p.m.