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EDA Finance Committee Minutes <br />June 14, 2006 <br />Page 4 <br />McNair added that the Incubator fund balance should be used toward a program of <br />the same nature and that an "Incubator without walls" may be a good idea, where a <br />discounted rent can be provided for a short period of time at various locations <br />within the City. <br />Chris Carlson stated his concern that companies will not utilize an energy <br />improvement incentive pxogxam. <br />Catherine Mehelich stated hex concern that a program such as this would become an <br />"automatic" request by companies in addition to other incentive programs such as <br />Tax Abatement and the Industrial Incentive Program Micro Loan. <br />It was the consensus of the Committee that the Energy City Commission explore <br />creating their own incentive pxogxam. <br />5. Other <br />Catherine Mehelich mentioned that she appreciates the Committee fox their <br />assistance in helping to market the Micro Loan Program. <br />Cliff Lundberg inquired about the Badger Ventures line item on the Micro Loan <br />portfolio report Catherine Mehelich stated that unlike the other Micro Loans which <br />have monthly payment schedules, this particular loan is structured as asemi-annual <br />Micro Loan payment, which is tied to the company's Tax Abatement payment <br />schedule. <br />6. Closing <br />The EDA Finance Committee meeting ended at 7:45 a.m. <br />Respectfully submitted by, <br />~~~ <br />Heidi Steinmetz <br />Assistant Director of Economic Development <br />