MANCHESTER DEVELOPMENT CORPORATION

BOARD OF DIRECTORS
MEETING MINUTES
Friday, March 14th, 2014
WEDU, 20 Market St
The following Directors were present: Joe Wichert (Chairman), Sean Owen (via telephone), Joshua
Wright, Adam Schmidt, Lori Chandonnais, Dave Eaton, Newton Kershaw III., Greg Telge, Alderman
Long, Alderman Corriveau
Others in attendance included: Mayor Ted Gatsas, Jack Brady, Chuck Hungler, Skip Ashooh, Gary
Chabot – DRED, Steve Heavener – CRDC, Will Craig - MEDO, Melanie Sanuth – MEDO, Sharon
Wickens, Maureen Cail, Kim LeBlanc -Manchester Finance Department
Call to Order: Chairman Wichert convened the meeting at 7:34 am.
Acceptance of Minutes: A motion was made by Newton Kershaw III., seconded by Adam Schmidt, to
accept Minutes of the February 21st, 2014 meeting. The motion was unanimously approved.
Investment & Loan Committee: Dave Eaton provided an update on the MDC Revolving Loan Fund,
including that:


XMA is current.
Mark Davison is seeking bank financing at this time.
The Board reviewed the current MDC Revolving Loan Fund portfolio provided by City Finance staff.
David Eaton suggested that the RLF remain active as it is an important gap financing option. With the
proper process and updated guidelines in place and being followed he recommended that MDC continue
the program.
Chairman Wichert mentioned that two potential MDC members could serve on the reconstituted City
RLF committee.
Mayor Gatsas stated that he would formally request that the Committee on Accounts review guidelines
and process for the City’s RLF program.
David Eaton informed the Board that the next I&L Committee meeting is April 6th, 2014.
Chairman Wichert reminded all sub-committees to notify the Manchester Economic Development
Department of each sub-committee meeting to ensure that MDC is compliance with the state’s right-toknow law.
Mayor Gatsas provided Board with an update on City of Manchester commercial properties to include:
 the former Lowe’s building
 the former Anthem building
 900 Elm Street.
 Jefferson Mill
 Millwest
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351 Chestnut St.
Chuck Hungler asked if the State is presently subsidizing the Logan Express and, if so, does this action
have a negative impact on passenger travel to the Manchester Airport. Mayor Gatsas confirmed that the
state does subsidize the bus and that it does harm the Manchester Airport.
Strategic Initiatives Report: Joshua Wright will advise MEDO of the next meeting.
Marketing & Communications: Adam Schmidt provided an update on the status of the MDC Annual
Meeting. The invitations have been sent. CRDC will sponsor breakfast. The committee will work to
refine presentations.
MEDO Report: The MEDO BMA report is attached to the meeting packet.
Financial Review: Maureen Cail – Manchester Finance Department reviews the financial report given to
the Board in the meeting packet.
CRDC: Stephen Heavener noted that he promoted MDC on a recent radio interview on the Jack Heath
show.
New Business: Chairman Wichert reported that the nomination for Mr. Muller to become a member of
MDC will be voted on by the Board of Mayor and Aldermen on Tuesday, March 18, 2014.
Chairman Wichert reminded the Board that this meeting serves as Sean Owen’s last official meeting and
thanked him for his service.
Motion: A motion was made by Lori Chandonnais., seconded by Adam Schmidt to enter into nonpublic session, pursuant to RSA 91-A:3, II, (j) for the consideration of confidential, commercial, or
financial information that is exempt from public disclosure under RSA 91-A:5, IV. Motion carried
unanimously.
Motion: A motion was made to exit non-public session by Adam Schmidt, seconded by Lori
Chandonnais. Motion carried unanimously.
Motion: A motion was made to seal non-public meeting minutes by Lori Chandonnais, seconded by
Joshua Wright. Motion carried unanimously.
The MDC Board approved a motion to make an offer on the Elm and Salmon property and retain
outside legal counsel as needed.
Motion to adjourn: On a motion unanimously approved by the Board.
The meeting was adjourned at 8:44am.
Respectfully submitted,
Melanie Sanuth
Economic Development
Meeting Minutes unanimously adopted May 9, 2014
Manchester Development Corp. Meeting Minutes
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