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AR-DEN HILLS EDA MEETING—July 24, 2017 3 <br /> EDA Secretary Joynes asked for clarification as to any lawful expenditure versus any lawful <br /> expenditure given the EDA's purpose. <br /> Senior Planner Bachler stated he believed the funds could be used for any expenditure and do <br /> not need to be exclusive to the EDA. <br /> A discussion ensued about the revolving loan and potential use for these funds. <br /> Commissioner Holmes stated she would like to pursue the option of retaining 80% and <br /> returning 20%to the State. <br /> EDA Secretary Joynes commented that he and Senior Planner Bachler were going to be <br /> meeting with representatives from a company interested in leasing space at the former Smiths <br /> Medical building. <br /> Commissioner McClung asked Senior Planner Bachler to provide the language from the bill. <br /> Discussion continued regarding the investment loan fund. <br /> 4. EDA COMMISSIONER COMMENTS <br /> Commissioner Scott commented about a joint EDA meeting with the Economic Development <br /> Commission (EDC). <br /> 5. ADJOURN <br /> MOTION: EDA President Grant and EDA Commissioner Holmes seconded a motion to <br /> adiourn the Economic Development Authority meeting. The motion carried <br /> unanimously (4-0). <br /> EDA President Grant adjourned the Economic Development Authority meeting at 6:20 p.m. <br /> t <br /> lie Hanson David Grant <br /> ity Clerk EDA President <br />