STATE ECONOMIC RECOVERY BOARD FOR CAMDEN

October 25, 2002

MINUTES OF THE MEETING

Members of the Board present: State Treasurer, John E. McCormac, Chairman; Tonio Burgos representing the EDA Chair; Chief Operating Officer Randy Primas; Mayor Gwendolyn Faison; City Council President Angel Fuentes; Commissioner Susan Bass Levin and Freeholder Director Jeffrey Nash; Public Members; Daniel Dalton, William Hosey, Robert Milner, Reverend J.C. Jones, Rosa Ramirez and Rodney Sadler.

Also Present: Caren S. Franzini, Executive Director of the New Jersey Economic Development Authority; Paul Josephson, Director, Governor's Authorities Unit; Bette Renaud, Deputy Attorney General.

Absent from the meeting: Anthony Coscia and Kathleen Naymola.

Chairman John McCormac called the meeting to order at 4:00 p.m.

In accordance with the Open Public Meetings Act, Ms. Franzini announced that notice of this meeting has been sent to the Star Ledger, the Times, the Courier Post and the Philadelphia Inquirer at least 48 hours prior to the meeting, and that a meeting notice has been duly posted on the Secretary of State's bulletin board at the State House.

MINUTES OF BOARD MEETING

The first item of business was the approval of By Laws.
MOTION TO APPROVE: Mr. Primas SECOND: Mr. Burgos AYES: 12
RESOLUTION ATTACHED AND MARKED EXHIBIT 1

The next item presented was the approval of Rodney Sadler as a representative to the EDA Board.
MOTION TO APPROVE: Ms. Levin SECOND: Mr. Burgos AYES: 12
RESOLUTION ATTACHED AND MARKED EXHIBIT 2

The next item presented was the approval of the Code of Ethics.
MOTION TO APPROVE: Mr. Sadler SECOND: Mr. Burgos AYES: 12
RESOLUTION ATTACHED AND MARKED EXHIBIT 3

The next item presented was the Annual Meeting Schedule.
MOTION TO APPROVE: Mr. Burgos SECOND: Mr. Primas AYES: 12
RESOLUTION ATTACHED AND MARKED EXHIBIT 4

The next item presented was the approval of a MOU with EDA.
MOTION TO APPROVE: Mr. Burgos SECOND: Mr. Fuentes AYES: 12
RESOLUTION ATTACHED AND MARKED EXHIBIT 5

The next item presented was the approval of the salary of the Chief Operating Officer.
MOTION TO APPROVE: Mr. Burgos SECOND: Mr. Fuentes AYES: 11
ABSTAINED: Mr. Primas
RESOLUTION ATTACHED AND MARKED EXHIBIT 6

Remarks were then given by Commissioner Levin, Mr. Primas, Mayor Faison, City Council President Fuentes and Senator Bryant.

Ms. Franzini gave an update on the Request for Proposal process for the selection of a professional planning/engineering firm to prepare the Strategic Revitalization and Capital Improvement/Infrastructure plan.

Public Comment: Several members of the public then made remarks.

There being no further business on a motion by Mr. Burgos, and seconded by Mr. Fuentes, the meeting was adjourned at 4:55 p.m.

Certification: The foregoing and attachments represent a true and complete summary of the actions taken by the New Jersey Economic Development Authority at its meeting.

Caren S. Franzini, Executive Director