NEWVILLE BOROUGH ECONOMIC DEVELOPMENT AUTHORITY REGULAR MONTHLY: MEETING MINUTES WIDNESDAYAUGUSTIS: 2023 The regular monthly meeting ofthel Newville Borough Economic Development Authority was held on Wednesday, August 16, 2023, in the Newville Borough Office at 4 West Street, Newville, Pennsylvania. The meeting was called to order at 7:05P.M. by Chairman Andrea Green. The invocation was offered by Treasurer Kenneth Tuckey, followed by the Pledge of Allegiance. On roll call, the following members were present: Andrea Green, Chairman; Vince Mellott; Kenneth Tuckey; Richard Gobin; Jeff Bouder; Liz Knouse and Robert Kanc. Also present: Solicitor Marcus A. McKnight, II, Esquire, and Jack Ericksen, the Newville Borough Council Liaison. Minutes: The minutes ofthe. June 21, 2023, meeting oft the Newville Borough Economic Treasurer's Report: Ken Tuckey presented the Treasurer's Report for June and July Approval to Pay Bills: The following bills were approved for payment by the Treasurer Development Authority were discussed. The minutes were approved. 2023. Both reports were approved unanimously by the EDA Board members. ofthel EDA Board: Irwin & McKnight, P.C. $217.50 $268.00 Carlisle Chamber of Commerce Annual Fee The EDA Board members unanimously approved the payment oft these bills. Budget: The remaining budgeted amount for 2023 is $9,000.00. Staff/Board Reports: NONE. Legal: Solicitor Marcus McKnight gave a report on the status of the Borough of Newville's finances. The Borough officials received a report from their consultants which indicated that the projections for the 2023 cash flow determined that by the end of August 2023 thel Borough would be out of funds to pay even its essential payroll and insurance invoices. After extensive discussion, the recommendation was to proceed pursuant to Act 47 and request assistance from the Commonwealth of Pennsylvania. 1 Application was made by the Borough of Newville and a hearing was held by DCED officials on Tuesday, August 2, 2023, at' 7:00 p.m. in the Newville Borough Hall. On August 9, 2023, the Secretary of DCED approved the finding that the Borough of Newville was a municipality in: financial distress. This action permits the Borough ofNewville to qualify for loans at zero percent interest to provide cash flow and the payment of accumulated bills and debts. It also qualifies the Borough ofl Newville for preference for grants available from Federal, County and State agencies. The investigation by the District Attorney's Office as well as the forensic accounting audit remain ongoing. Old Business: NONE. Project Update: The Trailhead Project: Jack Erikson announced the approval of the two (2) grants, which were combined in order toj proceed with the completion ofThe' Trailhead Project. There was no public comment. Adiournment: The meeting adjourned at 8:25 p.m. The next meeting is set for Wednesday, September 20, 2023, at' 7:00 p.m. in the Newville Borough Hall. Minutes recorded by: Marcus A. McKnight, II, Recording Secretary 2