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EDA Finance Committee Minutes Page 3 <br /> November,4,2010 <br /> Page 3 of 3 <br /> • 3% FIXED INTEREST RATE FOR 7 YEARS WITH A 5 YEAR BALLOON <br /> • MOTION SENSORS SHALL BE INSTALLED FOR LIGHTING <br /> • EDA TO USE COMMERCIALLY REASONABLE EFFORTS TO OBTAIN A CLEAN <br /> SECURITY POSITION LIEN POSITION <br /> • EDA TO OBTAIN A PERSONAL AND CORPORATE GUARANTY <br /> THE MOTION CARRIED 5-0. <br /> 3. Executive Director's Update <br /> Ms. Deckert reviewed the staff report which outlined the status of the outstanding Microloans and <br /> Microloan fund balance. <br /> Ms. Deckert informed the group that Chris Carlson resigned from his position on the EDA Finance <br /> Committee and requested that committee members inform her of anybody they would consider a <br /> potential candidate to fill Mr. Carlson's vacant position. <br /> 4. Closing <br /> The EDA Finance Committee meeting ended at 8:28 a.m. <br /> Respectfully submitted by, <br /> Clay Wilfahrt <br /> Assistant Director of Economic Development <br /> N:\Departments\Community Development\Economic Development\Micro Loan Fund\Finance Committee\2012\8.1.2012.doc <br />