DRAFT MINUTES FOR IGATE GOVERNING BOARD (DEVCORP) 09-‐-‐-‐24-‐-‐-‐2015 At 5:51 pm Chair Sblend Sblendorio convened the meeting with the following Board Members present: Buck Koonce, Rameet Kohli, Art Pontau, Mayor Jerry Thorne, Councilman N. Arnerich, Mayor John Marchand, Councilman Don Biddle, and Secretary Marshall Kamena. A quorum was therefore designated by the Chair as being present. Executive Director Brandon Cardwell and Livermore City Manager Marc Roberts were also present. No public comments were made. The Chair announced that Board Members Jeff Wolfe and Dr Woodrow Clark have resigned their memberships on this Board. In a motion by Mayor Marchand with a second by Mayor Thorne, the Board unanimously accepted the minutes of May 7, 2015 as submitted. Chair Sblendorio offered a motion to approve a retroactive amendment to the May 7, 2015 minutes where he appointed staff to meet with the Founders & Funders Group for advice on and evaluation of DevCorp’s direction. Upon the unanimous consensus of the board, the board approved and ratified the committee make–up and meeting recommendation. Mention was made by Secretary Kamena that the June 25, 2015 board meeting was one person short of a quorum. As a result no official meeting was held after waiting 31 minutes for a quorum. The Financial Report was unanimously accepted after a motion by CM Arnerich and a 2nd by Mayor Marchand. An extensive in-‐depth Report and Operational Update was presented by E.D. Cardwell. An electronic copy is attached. During the course of the Update a few related sub topics were discussed. Buck Koonce mentioned the partnership with Oak Ridge. It was also disclosed that in a partnership with Sandia Labs, LLNL, & Lawrence Berkeley labs an energy related “gift card” has been created with values from $50,000.00 to $300,000.00 as incentives. The last item in E.D. Cardwell’s report was also good news. Ed Silva has been hired to assist the executive director in both management and in the development of a concrete membership program of participants. Livermore City Manager Marc Roberts asked semi-‐-‐-‐rhetorically what exactly is iGATE doing; whether or not the move from Longard Ave to downtown Livermore on 2nd Street has facilitated a positive cash flow; and does the organization have any “customers”? E.D. Cardwell responded with the following: 1) at the time of the move DevCorp had $1,000.00 in cash; 2) there were $12,000.00 in obligations; 3) the progress of the build-‐-‐-‐out of the membership model is indeed promising; 4) income has risen from zero to $7,000.00 per month; 60-‐70% of operating costs are now being recovered exclusive of the Executive Director’s salary; and 5) there are more start-‐ ups than ever and >50% of them are bringing in capital as non-‐government groups.
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