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Member Ovall did state that Hytech Motorsports was still in business. <br /> Member Toth-asked if there were any personal guarantees. <br /> Mr. Montange stated that yes there were personal guarantees from the borrower and-Hytech <br /> Motorsports. <br /> Members discussed that they owed it to the tax payers to pursue collections. <br /> Motion by Member Motin to recommend the EDA proceed with the collection of the <br /> debt. Motion was seconded by Member Toth.-Motion carried 4-0. <br /> 5. Announcements <br /> Verbal update on Sweet Peas Microloan <br /> Ms. Othoudt contacted the bank (Klein Bank) and that a collection letter will be sent out this <br /> week and will be sent to the applicant's home and place of business. <br /> • Ms. Othoudt also discussed there are several projects coming.down the pipeline. She has <br /> projected a busy spring and discussed a need to acquire more land to accommodate <br /> upcoming industrial projects. • <br /> 6. . Adjournment <br /> There being nolurther business Member Tveite moved to adjourn the meeting. <br /> The meeting adjourned at 8:03 a.m. <br /> Minutes prepared by Colleen Eddy. <br /> OF <br /> ina A►'ard, City Clerk <br /> 16.. <br /> Amanda Othoudt, Economic Development Director <br /> • <br /> ,. I <br />