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Ethanol Technology <br /> Ethanol Technology is bankrupt and therefore has defaulted on its microloan. The bank has written off <br /> this loan and EDD staff has contacted the attorney to write a formal Notice as per the microloan policy. <br /> Once the notice has been sent, EDD staff will take the matter to the Finance Committee for review then <br /> to the EDA for final action. Ethanol Technology was loaned$74,000 and the unpaid balance is <br /> $66,729.66. The EDA would have to make formal approval to write off the loan as uncollectible. <br /> Financial Impact <br /> N/A <br /> Attachments <br /> • N/A <br /> N:\Departments\Community Development\Economic Development\EDA\Adminstrative\Agenda\EDA Agenda\year2013\10-21-2013\7.1 sr <br /> Project Updates.docx <br />