After much discussion the Italy Economic Development Corporation voted to table further action on funding a Community Center project until the next meeting.

During the meeting members took a recess to go take a look at the community center as it stands now. There were some concerns such as:

• Water damage to the building
• Black mold in bath room
• Costing more to repair than to tear down and build brand new.
• Replacing the roof
• Mrs. McConnell’s building and community center sharing common roof

It was decided that Mark Styles and Darrell Rosemond would talk to Mrs. McConnell to see if she would like to donate her building to the city to build both new buildings, or pay half of the repairs to her building.

Mark Souder Sr. asked the question, could we purchase the Wayne Boze building and could someone get a price for it? Mayor Frank Jackson said he last heard the asking price was around $200,000.00.

It was then voted to table the decision on funding a community center project so more research could be done until next meeting.

On other business the board voted to pay half of the Italy, Texas advertisement in the Waxahachie Daily Light. The full amount for the add is $425.00 and the EDC would pay $212.50.

Joyce Hobbs gave her report on attending the TEDC Seminar, “Essentials of Small Business Financing for Economic Developers” which she attended on February 19, 2010. Hobbs said the program objectives were:

• The practical requirements of business
• To gain knowledge to ask the right questions
• Analyze business credit needs by interpreting financial information
• Understanding the way loans are repaid
• Learn about the five c’s of credit
• Distinguish between poor and quality credit
• Reasons for business borrowing
• How businesses repay loans
• Small business owners

Joyce went on to say, “We also talked about the characteristics of successful small businesses, small business challenges and what economic developers need to know about small businesses, asking the right questions and attaining information. It was for one day in Austin and it was very worthwhile.”

Financially, Terri Murdock, city secretary/administrator, said sales tax for March was $1060.33, the account balance after the deposit was $159,273.06.

In other business the minutes for January 25, 2010 were approved and the bills and checks issued for February and March were also approved.

The meeting adjourned at 8:25 pm.