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BEAR POINT MITIGATION BANK MANAGEMENT COMMITTEE
MINUTES
AUGUST 31, 2016 MEETING
Members Present: Glenn Henderson, Leslie Olson, Mark Satterlee, and Heather Young
Others Present: None
The meeting was called to order at 4:32 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 May 25, 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 reported that Larry Winter had purchased 0.10 Dual Credits.
Mr. Henderson advised the members that the Semi-Annual Status Report (January – June 2016) had
been received and it was favorable. The District is in the process of seeking an outside water qualify analyst to
perform water quality testing.
Mr. Henderson reported that the Bank currently has the following credits available:
1. Federal Credits – 7.40
2. State Credits – 8.50
Mr. Henderson informed the Committee that the Bear Point budget currently has $666,201.94 in pooled
cash. This represents an increase of approximately $2,325.29 from the previous balance due to interest income.
There being no further business, the meeting was adjourned at 4.41 p.m.