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City of <br /> Elk - Request for Action <br /> River O. <br /> To Item Number <br /> Mayor and City Council 8.2 <br /> Agenda Section Meeting Date Prepared by <br /> General Business November 18, 2013 Brian Beeman,Director of Economic <br /> Development <br /> Item Description Reviewed by <br /> Amend Economic Development NEcroloan Fund Jeremy Barnhart,Deputy Director CODD <br /> Policy Reviewed by <br /> Cal Portner, City Administrator <br /> Action Requested <br /> Adopt by motion the amended Economic Development Microloan Policy. <br /> Background/Discussion <br /> Microloan Fund applications are reviewed, acted upon, and administered by the EDA Finance <br /> Committee and EDA Commission. <br /> The EDA Finance Committee is proposing amendments to the Microloan Policy as attached. <br /> The EDA will consider the amendment at their November 18, 2013, meeting,which precedes the <br /> Council meeting. If approved, the EDA will recommend the City Council to amend Microloan Fund <br /> Policy by motion. <br /> The Attached policy includes the amendments noted from the EDA Finance Committee meeting held <br /> November 5, 2013. <br /> Financial Impact <br /> N/A <br /> Attachments <br /> ■ EDA Microloan Policy-Tracked changes, Staff Report,&Supporting Material <br /> P a w E A E U s r <br /> NaA f RE] <br />