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Consider Propert?' Tax Abatement for Badger Ventures, [,LC <br />ED?~/Ciw. Council Mecting ApriI 12, 2004 <br />Page 3 of 3 <br /> <br />There 2re several issues that remain unresolved, including: <br /> · Identification of a bank lender and proposed project £mancing terms <br /> · The possibih~T ora CiD' Micro Loan request of up to $100,000 <br /> Identification of the amount and source of ehgible equiD~ <br /> Completion and review of a b~t(/'or analysis <br /> <br />Recommendation <br />At this me there is not enough information for staff to provide a recommendation to the EDA <br />regarding the tax abatement request for the project. <br /> <br />The City Council may continue to hold a public hearing and receive comment on the tax <br />abatement request. Staff recommends postpone any action regarding the abatement request until <br />staff and the company to finalize the project details and resolve the remaimng issues. Staff will <br />report at a future regular meeting of the City Council for f'mal acdon. <br /> <br /> <br />